StockNews.com Initiates Coverage on Oncternal Therapeutics (NASDAQ:ONCT)

StockNews.com started coverage on shares of Oncternal Therapeutics (NASDAQ:ONCT) in a report published on Wednesday morning. The firm issued a hold rating on the stock.

Separately, HC Wainwright reduced their target price on shares of Oncternal Therapeutics from $30.00 to $28.00 and set a buy rating for the company in a report on Monday, April 15th.

Oncternal Therapeutics Stock Up 6.4 %

Oncternal Therapeutics stock opened at $9.15 on Wednesday. Oncternal Therapeutics has a twelve month low of $5.57 and a twelve month high of $13.14. The company has a 50 day moving average of $8.89 and a 200-day moving average of $8.13. The stock has a market capitalization of $24.61 million, a PE ratio of -0.68 and a beta of 1.26.

Oncternal Therapeutics (NASDAQ:ONCT) last announced its earnings results on Thursday, March 7th. The company reported ($3.11) 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 analyst estimates of $0.17 million. During the same quarter in the previous year, the company posted ($4.00) EPS. Equities analysts anticipate that Oncternal Therapeutics will post -11.97 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Robert James Wills purchased 6,914 shares of the business’s stock in a transaction on Thursday, March 28th. The stock was purchased at an average price of $8.48 per share, for a total transaction of $58,630.72. Following the completion of the purchase, the director now directly owns 6,914 shares in the company, valued at approximately $58,630.72. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders acquired 10,714 shares of company stock worth $92,736. 8.00% of the stock is owned by insiders.

Institutional Trading of Oncternal Therapeutics

Large investors have recently added to or reduced their stakes in the company. Two Sigma Investments LP lifted its stake in Oncternal Therapeutics by 136.0% in the third quarter. Two Sigma Investments LP now owns 356,244 shares of the company’s stock valued at $318,000 after acquiring an additional 205,312 shares during the last quarter. Vanguard Group Inc. lifted its stake in Oncternal Therapeutics by 34.1% in the third quarter. Vanguard Group Inc. now owns 2,863,217 shares of the company’s stock valued at $2,553,000 after acquiring an additional 728,200 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Oncternal Therapeutics by 52.2% in the third quarter. Renaissance Technologies LLC now owns 979,800 shares of the company’s stock valued at $874,000 after acquiring an additional 336,066 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Oncternal Therapeutics by 13.0% in the second quarter. Goldman Sachs Group Inc. now owns 189,634 shares of the company’s stock valued at $211,000 after acquiring an additional 21,785 shares during the last quarter. Finally, Prudential Financial Inc. acquired a new stake in Oncternal Therapeutics in the second quarter valued at $32,000. Institutional investors and hedge funds 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.