StockNews.com Begins Coverage on Onconova Therapeutics (NASDAQ:ONTX)

Equities researchers at StockNews.com assumed coverage on shares of Onconova Therapeutics (NASDAQ:ONTX) in a research report issued on Tuesday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

Onconova Therapeutics Price Performance

The stock has a market capitalization of $20.90 million, a PE ratio of -1.09 and a beta of 1.38. Onconova Therapeutics has a twelve month low of $0.55 and a twelve month high of $1.45. The business has a 50-day moving average price of $0.82 and a 200-day moving average price of $0.74.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ONTX. Renaissance Technologies LLC raised its holdings in shares of Onconova Therapeutics by 3.6% during the second quarter. Renaissance Technologies LLC now owns 333,323 shares of the biopharmaceutical company’s stock valued at $440,000 after purchasing an additional 11,580 shares during the last quarter. Beacon Pointe Advisors LLC raised its holdings 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 valued at $34,000 after purchasing an additional 15,286 shares during the last quarter. Millennium Management LLC increased its holdings in Onconova Therapeutics by 154.6% during the second quarter. Millennium Management LLC now owns 61,390 shares of the biopharmaceutical company’s stock valued at $81,000 after buying an additional 37,275 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in Onconova Therapeutics by 21.7% during the third quarter. Vanguard Group Inc. now owns 622,958 shares of the biopharmaceutical company’s stock valued at $549,000 after buying an additional 110,965 shares during the last quarter. 7.95% of the stock is owned by hedge funds and other institutional investors.

About Onconova Therapeutics

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.