According to Zacks, “Oncolytics Biotech, Inc. focuses on the discovery and development of pharmaceutical products for the treatment of a wide variety of human and companion pet cancers. The Company was formed to explore the oncolytic capability of the reovirus, a virus that preferentially replicates in cells with an activated Ras pathway, one of the most common family of genetic defects leading to cancer. “
A number of other analysts have also commented on the stock. ValuEngine lowered shares of Oncolytics Biotech from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Roth Capital initiated coverage on shares of Oncolytics Biotech in a research note on Wednesday, September 4th. They issued a “buy” rating and a $7.00 price target for the company.
Oncolytics Biotech (NASDAQ:ONCY) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.19) EPS for the quarter. Research analysts predict that Oncolytics Biotech will post -0.91 earnings per share for the current fiscal year.
A hedge fund recently bought a new stake in Oncolytics Biotech stock. Verition Fund Management LLC purchased a new position in Oncolytics Biotech, Inc. (NASDAQ:ONCY) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 408,838 shares of the company’s stock, valued at approximately $695,000. Verition Fund Management LLC owned 2.01% of Oncolytics Biotech as of its most recent SEC filing. Hedge funds and other institutional investors own 2.31% of the company’s stock.
About Oncolytics Biotech
Oncolytics Biotech Inc, a development stage biopharmaceutical company, focuses on the discovery and development of pharmaceutical products for the treatment of cancer. The company is developing REOLYSIN, an immuno-oncology viral-agent that comprises three programs: chemotherapy combinations to trigger selective tumor lysis; immune modulator combinations to facilitate innate immune responses; and immuno-therapy combinations to produce adaptive immune responses.
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