Onconova Therapeutics (NASDAQ:ONTX) Sees Strong Trading Volume

Onconova Therapeutics Inc (NASDAQ:ONTX) shares saw an uptick in trading volume on Monday . 2,772,735 shares were traded during trading, an increase of 1,741% from the previous session’s volume of 150,612 shares.The stock last traded at $1.12 and had previously closed at $0.90.

Several research firms recently weighed in on ONTX. Noble Financial began coverage on shares of Onconova Therapeutics in a report on Thursday, July 25th. They set an “outperform” rating and a $12.00 target price on the stock. Maxim Group set a $8.00 price objective on shares of Onconova Therapeutics and gave the stock a “buy” rating in a report on Monday, September 9th. ValuEngine lowered shares of Onconova Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Finally, Zacks Investment Research lowered shares of Onconova Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $11.50.

The stock has a market cap of $5.46 million, a price-to-earnings ratio of -0.22 and a beta of 2.54. The business’s fifty day simple moving average is $1.48 and its 200 day simple moving average is $2.74.

Onconova Therapeutics (NASDAQ:ONTX) last issued its quarterly earnings data on Wednesday, August 14th. The biopharmaceutical company reported ($0.60) EPS for the quarter, topping analysts’ consensus estimates of ($0.98) by $0.38. Onconova Therapeutics had a negative net margin of 976.64% and a negative return on equity of 872.01%. The firm had revenue of $2.02 million for the quarter, compared to analyst estimates of $0.25 million. On average, research analysts anticipate that Onconova Therapeutics Inc will post -3.49 earnings per share for the current fiscal year.

In other news, major shareholder Tyndall Capital Partners L. P sold 49,995 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $2.10, for a total value of $104,989.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider 683 Capital Management, Llc sold 506,877 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $2.03, for a total transaction of $1,028,960.31. Insiders sold a total of 671,280 shares of company stock worth $1,307,088 in the last quarter. 9.70% of the stock is currently owned by company insiders.

An institutional investor recently bought a new position in Onconova Therapeutics stock. Citadel Advisors LLC bought a new stake in Onconova Therapeutics Inc (NASDAQ:ONTX) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 16,713 shares of the biopharmaceutical company’s stock, valued at approximately $48,000. Citadel Advisors LLC owned approximately 0.28% of Onconova Therapeutics as of its most recent filing with the SEC. Institutional investors own 39.47% of the company’s stock.

Onconova Therapeutics Company Profile (NASDAQ:ONTX)

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.

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