Oncolytics Biotech (NASDAQ:ONCY) Price Target Cut to $3.00 by Analysts at Maxim Group

Oncolytics Biotech (NASDAQ:ONCY) had its price objective lowered by stock analysts at Maxim Group from $5.00 to $3.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Maxim Group’s target price would indicate a potential upside of 363.68% from the stock’s previous close.

A number of other research analysts have also recently commented on the company. Royal Bank of Canada reduced their price objective on Oncolytics Biotech from $6.00 to $5.00 and set an “outperform” rating on the stock in a research note on Monday. HC Wainwright reissued a “buy” rating and set a $5.00 price target on shares of Oncolytics Biotech in a research report on Monday. Raymond James upgraded 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 research analysts have rated the stock with a buy rating, According to MarketBeat, Oncolytics Biotech has an average rating of “Buy” and an average price target of $4.00.

Oncolytics Biotech Stock Down 6.1 %

Shares of ONCY stock traded down $0.04 during mid-day trading on Monday, reaching $0.65. The company’s stock had a trading volume of 214,081 shares, compared to its average volume of 1,375,181. The firm has a market capitalization of $55.32 million, a PE ratio of -2.39 and a beta of 1.18. The company’s 50 day simple moving average is $0.78 and its 200-day simple moving average is $0.93. Oncolytics Biotech has a 12-month low of $0.60 and a 12-month high of $1.53.

Institutional Inflows and Outflows

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