Oncternal Therapeutics (NASDAQ:ONCT) PT Lowered to $28.00 at HC Wainwright

Oncternal Therapeutics (NASDAQ:ONCT) had its target price decreased by HC Wainwright from $30.00 to $28.00 in a report released on Monday morning, Benzinga reports. HC Wainwright currently has a buy rating on the stock. HC Wainwright also issued estimates for Oncternal Therapeutics’ Q1 2024 earnings at ($3.30) EPS, Q2 2024 earnings at ($3.42) EPS, Q3 2024 earnings at ($3.63) EPS, Q4 2024 earnings at ($3.68) EPS and FY2024 earnings at ($14.04) EPS.

Separately, StockNews.com upgraded shares of Oncternal Therapeutics from a sell rating to a hold rating in a research report on Friday, March 8th.

Oncternal Therapeutics Stock Performance

Shares of ONCT stock opened at $8.60 on Monday. The stock has a fifty day simple moving average of $8.90 and a two-hundred day simple moving average of $8.11. Oncternal Therapeutics has a 52-week low of $5.57 and a 52-week high of $13.14. The firm has a market capitalization of $23.13 million, a PE ratio of -0.64 and a beta of 1.26.

Oncternal Therapeutics (NASDAQ:ONCT) last released its earnings results on Thursday, March 7th. The company reported ($3.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($3.09) by ($0.02). Oncternal Therapeutics had a negative return on equity of 95.87% and a negative net margin of 5,029.17%. The business had revenue of $0.30 million for the quarter, compared to analysts’ expectations of $0.17 million. During the same quarter in the prior year, the business posted ($4.00) EPS. On average, sell-side analysts forecast that Oncternal Therapeutics will post -12.03 EPS for the current fiscal year.

Insider Activity at Oncternal Therapeutics

In other news, Director Robert James Wills acquired 6,914 shares of Oncternal Therapeutics stock in a transaction on Thursday, March 28th. The shares were acquired at an average price of $8.48 per share, with a total value of $58,630.72. Following the purchase, the director now directly owns 6,914 shares in the company, valued at approximately $58,630.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last three months, insiders bought 10,714 shares of company stock valued at $92,736. Insiders own 8.00% of the company’s stock.

Hedge Funds Weigh In On Oncternal Therapeutics

Several institutional investors have recently bought and sold shares of ONCT. Mirabella Financial Services LLP bought a new stake in shares of Oncternal Therapeutics in the 1st quarter worth about $38,000. Prudential Financial Inc. purchased a new position in Oncternal Therapeutics in the second quarter worth about $32,000. Virtu Financial LLC bought a new stake in Oncternal Therapeutics during the second quarter worth approximately $48,000. Citadel Advisors LLC bought a new stake in Oncternal Therapeutics during the fourth quarter worth approximately $29,000. Finally, Susquehanna International Group LLP purchased a new stake in Oncternal Therapeutics during the first quarter valued at approximately $99,000. Institutional investors own 16.05% of the company’s stock.

About Oncternal Therapeutics

Oncternal Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development of oncology therapies for cancers with critical unmet medical needs. The company's clinical pipeline includes zilovertamab, a humanized monoclonal antibody that binds to receptor-tyrosine kinase-like Orphan Receptor 1 (ROR1); and ONCT-216, a small molecule inhibiting the biological activity of ETS-family transcription factor oncoproteins, which is in Phase 1/2 clinical trial.