Onconova Therapeutics (NASDAQ:ONTX) Now Covered by StockNews.com

Stock analysts at StockNews.com began coverage on shares of Onconova Therapeutics (NASDAQ:ONTX) in a research report issued to clients and investors on Tuesday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

Onconova Therapeutics Price Performance

The company’s 50-day simple moving average is $0.82 and its two-hundred day simple moving average is $0.74. The company has a market capitalization of $20.90 million, a P/E ratio of -1.09 and a beta of 1.38. Onconova Therapeutics has a 52 week low of $0.55 and a 52 week high of $1.45.

Hedge Funds Weigh In On Onconova Therapeutics

Hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC raised its stake in Onconova Therapeutics by 140.8% during the first quarter. Renaissance Technologies LLC now owns 321,743 shares of the biopharmaceutical company’s stock worth $592,000 after buying an additional 188,116 shares during the last quarter. Vanguard Group Inc. raised its stake in 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 buying an additional 110,965 shares during the last quarter. Beacon Pointe Advisors LLC raised its stake in Onconova Therapeutics by 147.0% during the first quarter. Beacon Pointe Advisors LLC now owns 46,027 shares of the biopharmaceutical company’s stock worth $85,000 after buying an additional 27,396 shares during the last quarter. Finally, Millennium Management LLC raised its stake in 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 buying an additional 37,275 shares during the last quarter. Institutional investors own 7.95% of the company’s stock.

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.