HC Wainwright Cuts Earnings Estimates for Oncolytics Biotech

Oncolytics Biotech Inc. (NASDAQ:ONCY) – Investment analysts at HC Wainwright dropped their FY2029 earnings per share (EPS) estimates for Oncolytics Biotech in a research note issued to investors on Monday, March 10th. HC Wainwright analyst P. Trucchio now forecasts that the company will post earnings per share of $0.73 for the year, down from their prior estimate of $0.75. HC Wainwright currently has a “Buy” rating and a $5.00 price objective on the stock. The consensus estimate for Oncolytics Biotech’s current full-year earnings is ($0.28) per share.

A number of other research analysts have also recently issued reports on the company. Raymond James raised Oncolytics Biotech to a “moderate buy” rating in a report on Thursday, November 14th. Leede Financial cut Oncolytics Biotech from a “strong-buy” rating to a “moderate buy” rating in a report on Wednesday, November 13th. Royal Bank of Canada cut their price objective on Oncolytics Biotech from $6.00 to $5.00 and set an “outperform” rating for the company in a report on Monday. Finally, Maxim Group cut their price target on Oncolytics Biotech from $5.00 to $3.00 and set a “buy” rating for the company in a report on Monday. Three research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $4.00.

Oncolytics Biotech Stock Performance

Shares of NASDAQ ONCY opened at $0.61 on Wednesday. The stock has a market cap of $52.38 million, a PE ratio of -2.27 and a beta of 1.18. The business has a fifty day moving average of $0.77 and a two-hundred day moving average of $0.93. Oncolytics Biotech has a 52-week low of $0.58 and a 52-week high of $1.53.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its position in Oncolytics Biotech by 59.6% in the fourth quarter. Geode Capital Management LLC now owns 66,939 shares of the company’s stock worth $61,000 after purchasing an additional 24,997 shares during the period. International Assets Investment Management LLC increased its position 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 worth $186,000 after purchasing an additional 26,069 shares during the period. Vantage Point Financial LLC acquired a new stake in Oncolytics Biotech in the fourth quarter worth about $27,000. National Bank of Canada FI increased 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 purchasing an additional 42,955 shares during the period. Finally, Virtu Financial LLC acquired a new stake in Oncolytics Biotech in the fourth quarter worth about $90,000. 6.82% of the stock is owned by institutional investors.

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.