Short Interest in Onconova Therapeutics, Inc. (NASDAQ:ONTX) Rises By 26.6%

Onconova Therapeutics, Inc. (NASDAQ:ONTX) was the recipient of a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 26,200 shares, an increase of 26.6% from the March 15th total of 20,700 shares. Based on an average daily volume of 41,700 shares, the short-interest ratio is presently 0.6 days.

Onconova Therapeutics Price Performance

Shares of ONTX traded down $0.00 during mid-day trading on Monday, reaching $1.00. The stock had a trading volume of 1,281,800 shares, compared to its average volume of 96,681. The business’s fifty day moving average is $0.81 and its 200 day moving average is $0.74. Onconova Therapeutics has a 52-week low of $0.55 and a 52-week high of $1.45. The firm has a market cap of $20.90 million, a price-to-earnings ratio of -1.09 and a beta of 1.38.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of Onconova Therapeutics in a report on Monday, April 8th. They issued a “sell” rating for the company.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ONTX. Beacon Pointe Advisors LLC lifted its position in shares of Onconova Therapeutics by 116.4% during the second quarter. Beacon Pointe Advisors LLC now owns 28,417 shares of the biopharmaceutical company’s stock worth $34,000 after purchasing an additional 15,286 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Onconova Therapeutics by 62.1% during the second quarter. Renaissance Technologies LLC now owns 234,674 shares of the biopharmaceutical company’s stock worth $277,000 after purchasing an additional 89,880 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Onconova Therapeutics by 21.7% during the third quarter. Vanguard Group Inc. now owns 622,958 shares of the biopharmaceutical company’s stock worth $549,000 after purchasing an additional 110,965 shares in the last quarter. Finally, Millennium Management LLC lifted its position in shares of Onconova Therapeutics by 154.6% during the second quarter. Millennium Management LLC now owns 61,390 shares of the biopharmaceutical company’s stock worth $81,000 after purchasing an additional 37,275 shares in the last quarter. Institutional investors and hedge funds own 7.95% of the company’s stock.

Onconova Therapeutics Company Profile

Onconova Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing novel products to treat cancer in the United States. It has two clinical-stage programs, including narazaciclib, a multi-targeted kinase inhibitor that is in Phase I study for solid tumors, as well as hematological malignancies as a single agent or in combination with other anti-cancer therapies; and oral rigosertib alone or in combination with PD-1 inhibitor, which is in Phase I/IIa study for the treatment of progressive K-Ras mutated non-small cell lung cancer.