Onconova Therapeutics (NASDAQ:ONTX) Coverage Initiated at StockNews.com

Equities researchers at StockNews.com initiated coverage on shares of Onconova Therapeutics (NASDAQ:ONTX) in a research report issued to clients and investors on Monday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

Onconova Therapeutics Stock Performance

The stock has a market capitalization of $20.90 million, a PE ratio of -1.09 and a beta of 1.38. The business has a fifty day moving average price of $0.81 and a two-hundred day moving average price of $0.74. Onconova Therapeutics has a 12 month low of $0.55 and a 12 month high of $1.45.

Institutional Investors Weigh In On Onconova Therapeutics

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Onconova Therapeutics by 21.7% in the third quarter. Vanguard Group Inc. now owns 622,958 shares of the biopharmaceutical company’s stock worth $549,000 after acquiring an additional 110,965 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Onconova Therapeutics by 3.6% in the second quarter. Renaissance Technologies LLC now owns 333,323 shares of the biopharmaceutical company’s stock worth $440,000 after acquiring an additional 11,580 shares during the last quarter. Millennium Management LLC grew its stake in shares of Onconova Therapeutics by 154.6% in the second quarter. Millennium Management LLC now owns 61,390 shares of the biopharmaceutical company’s stock worth $81,000 after acquiring an additional 37,275 shares during the last quarter. Finally, Beacon Pointe Advisors LLC grew its stake in shares of Onconova Therapeutics by 147.0% in the first quarter. Beacon Pointe Advisors LLC now owns 46,027 shares of the biopharmaceutical company’s stock worth $85,000 after acquiring an additional 27,396 shares during the last quarter. 7.95% of the stock is owned by hedge funds and other institutional investors.

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.