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

Oncolytics Biotech (NASDAQ:ONCY) had its target price reduced by equities research analysts at Royal Bank of Canada from $6.00 to $5.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock.

ONCY has been the topic of several other research reports. Raymond James raised shares of Oncolytics Biotech to a “moderate buy” rating in a report on Thursday, November 14th. HC Wainwright reiterated a “buy” rating and issued a $5.00 price target on shares of Oncolytics Biotech in a research note on Monday, February 3rd. Finally, Leede Financial lowered Oncolytics Biotech from a “strong-buy” rating to a “moderate buy” rating in a research report on Wednesday, November 13th.

Oncolytics Biotech Trading Down 5.1 %

ONCY traded down $0.03 on Monday, hitting $0.65. 158,423 shares of the company’s stock traded hands, compared to its average volume of 1,374,312. 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 one year low of $0.60 and a one year high of $1.53. The firm has a market cap of $55.92 million, a price-to-earnings ratio of -2.44 and a beta of 1.18.

Institutional Investors Weigh In On Oncolytics Biotech

Several large investors have recently bought and sold shares of ONCY. International Assets Investment Management LLC lifted its position in Oncolytics Biotech by 15.0% during the fourth quarter. International Assets Investment Management LLC now owns 200,400 shares of the company’s stock valued at $186,000 after purchasing an additional 26,069 shares during the last quarter. Vantage Point Financial LLC purchased a new stake in shares of Oncolytics Biotech during the 4th quarter valued at about $27,000. Virtu Financial LLC bought a new position in shares of Oncolytics Biotech in the 4th quarter valued at about $90,000. National Bank of Canada FI grew its position in Oncolytics Biotech by 199.6% in the fourth quarter. National Bank of Canada FI now owns 64,479 shares of the company’s stock worth $60,000 after acquiring an additional 42,955 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in 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 acquiring an additional 24,997 shares during the last quarter. 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.