Royal Bank of Canada Cuts Oncolytics Biotech (NASDAQ:ONCY) Price Target to $5.00

Oncolytics Biotech (NASDAQ:ONCY) had its target price cut by Royal Bank of Canada from $6.00 to $5.00 in a research report released on Monday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other research firms have also recently weighed in on ONCY. HC Wainwright reaffirmed a “buy” rating and set a $5.00 target price on shares of Oncolytics Biotech in a research note on Monday, February 3rd. Raymond James upgraded shares of Oncolytics Biotech to a “moderate buy” rating in a report on Thursday, November 14th. Finally, Leede Financial lowered shares of Oncolytics Biotech from a “strong-buy” rating to a “moderate buy” rating in a research note on Wednesday, November 13th. Three equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Oncolytics Biotech presently has a consensus rating of “Buy” and a consensus target price of $4.00.

Oncolytics Biotech Stock Performance

Oncolytics Biotech stock opened at $0.63 on Monday. Oncolytics Biotech has a 52 week low of $0.58 and a 52 week high of $1.53. The firm has a market capitalization of $53.87 million, a price-to-earnings ratio of -2.33 and a beta of 1.18. The company has a 50 day moving average price of $0.77 and a 200 day moving average price of $0.92.

Institutional Trading of Oncolytics Biotech

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vantage Point Financial LLC bought a new position in shares of Oncolytics Biotech in the 4th quarter valued at approximately $27,000. National Bank of Canada FI grew its holdings in Oncolytics Biotech by 199.6% during the fourth quarter. National Bank of Canada FI now owns 64,479 shares of the company’s stock valued at $60,000 after purchasing an additional 42,955 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Oncolytics Biotech by 59.6% in the fourth quarter. Geode Capital Management LLC now owns 66,939 shares of the company’s stock valued at $61,000 after purchasing an additional 24,997 shares during the period. Virtu Financial LLC acquired a new stake in shares of Oncolytics Biotech in the fourth quarter worth $90,000. Finally, International Assets Investment Management LLC lifted its stake in shares of Oncolytics Biotech by 15.0% in the fourth quarter. International Assets Investment Management LLC now owns 200,400 shares of the company’s stock worth $186,000 after buying an additional 26,069 shares during the last quarter. Institutional investors and hedge funds own 6.82% of the company’s stock.

Oncolytics Biotech Company Profile

Oncolytics Biotech Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of pharmaceutical products for the treatment of cancer. The company is developing pelareorep, an intravenously delivered immunotherapeutic agent, which is in phase 3 clinical trial for the treatment of hormone receptor-positive / human epidermal growth factor 2-negative metastatic breast cancer and advanced/metastatic pancreatic ductal adenocarcinoma.