Onconova Therapeutics (ONTX) Shares Down 5.9%

Onconova Therapeutics Inc. (NASDAQ:ONTX) was down 5.9% during trading on Wednesday . The company traded as low as $0.33 and last traded at $0.36. Approximately 23,900 shares traded hands during trading, a decline of 96% from the average daily volume of 602,771 shares. The stock had previously closed at $0.34.

ONTX has been the topic of a number of recent analyst reports. Maxim Group reissued a “hold” rating on shares of Onconova Therapeutics in a research note on Monday, March 26th. HC Wainwright reissued a “buy” rating and set a $6.00 price target on shares of Onconova Therapeutics in a research note on Thursday, January 18th. ValuEngine raised Onconova Therapeutics from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Finally, Zacks Investment Research raised Onconova Therapeutics from a “hold” rating to a “buy” rating and set a $0.50 price target on the stock in a research note on Wednesday, April 25th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Onconova Therapeutics presently has an average rating of “Buy” and an average price target of $3.17.

The company has a market capitalization of $7.09 million, a price-to-earnings ratio of -0.13 and a beta of 0.41.

Onconova Therapeutics (NASDAQ:ONTX) last issued its quarterly earnings results on Tuesday, May 15th. The biopharmaceutical company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.05. The business had revenue of $0.56 million for the quarter, compared to analysts’ expectations of $0.48 million. sell-side analysts forecast that Onconova Therapeutics Inc. will post -1.41 EPS for the current year.

In other Onconova Therapeutics news, major shareholder 683 Capital Management, Llc purchased 11,838,235 shares of Onconova Therapeutics stock in a transaction on Friday, April 27th. The shares were bought at an average price of $0.43 per share, with a total value of $5,090,441.05. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 13.30% of the company’s stock.

A hedge fund recently raised its stake in Onconova Therapeutics stock. 683 Capital Management LLC increased its position in Onconova Therapeutics Inc. (NASDAQ:ONTX) by 24.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 464,934 shares of the biopharmaceutical company’s stock after buying an additional 89,934 shares during the quarter. 683 Capital Management LLC owned about 4.32% of Onconova Therapeutics worth $697,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 12.13% of the company’s stock.

About Onconova Therapeutics

Onconova Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing small molecule product candidates to treat cancer. Its product candidates include Rigosertib IV, which is in Phase III clinical trial for patients with higher risk myelodysplastic syndromes (MDS); Rigosertib oral in combination with azacitidine that is in Phase II clinical trial for patients with higher-risk MDS; and Rigosertib oral, which is in Phase II clinical trial for patients with lower risk MDS.

Receive News & Ratings for Onconova Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Onconova Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply