Shares of Onconova Therapeutics, Inc. (NASDAQ:ONTX) shot up 0.9% during mid-day trading on Tuesday . The company traded as high as $2.72 and last traded at $2.26. 414,289 shares were traded during trading, an increase of 286% from the average session volume of 107,422 shares. The stock had previously closed at $2.28.
A number of research firms recently issued reports on ONTX. HC Wainwright began coverage on Onconova Therapeutics in a research note on Monday. They set a “buy” rating and a $6.00 target price for the company. ValuEngine raised Onconova Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st. Maxim Group set a $6.00 target price on Onconova Therapeutics and gave the stock a “buy” rating in a research note on Tuesday, August 15th. Finally, Dawson James reissued a “buy” rating on shares of Onconova Therapeutics in a research note on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Onconova Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $7.33.
The firm has a 50-day moving average price of $1.73 and a 200-day moving average price of $2.06. The stock’s market capitalization is $25.60 million.
Onconova Therapeutics (NASDAQ:ONTX) last issued its earnings results on Monday, August 14th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.72) by $0.43. The business had revenue of $0.32 million during the quarter, compared to the consensus estimate of $0.25 million. Onconova Therapeutics had a negative return on equity of 558.97% and a negative net margin of 762.13%. On average, analysts expect that Onconova Therapeutics, Inc. will post ($2.92) earnings per share for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ONTX. Vanguard Group Inc. increased its holdings in shares of Onconova Therapeutics by 58.4% during the second quarter. Vanguard Group Inc. now owns 87,940 shares of the biopharmaceutical company’s stock valued at $190,000 after acquiring an additional 32,418 shares in the last quarter. Tyndall Capital Partners L P increased its holdings in shares of Onconova Therapeutics by 91.4% during the second quarter. Tyndall Capital Partners L P now owns 997,022 shares of the biopharmaceutical company’s stock valued at $2,154,000 after acquiring an additional 476,190 shares in the last quarter. Finally, Sabby Management LLC increased its holdings in shares of Onconova Therapeutics by 104.0% during the second quarter. Sabby Management LLC now owns 784,000 shares of the biopharmaceutical company’s stock valued at $1,693,000 after acquiring an additional 399,640 shares in the last quarter. Hedge funds and other institutional investors own 26.83% of the company’s stock.
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Onconova Therapeutics Company Profile
Onconova Therapeutics, Inc is a clinical-stage biopharmaceutical company. The Company operates through the identification and development of oncology therapeutics segment. It is focused on discovering and developing small molecule drug candidates to treat cancer. The Company has created a targeted anti-cancer agents designed to work against specific cellular pathways that are important to cancer cells.
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