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

StockNews.com assumed coverage on shares of Oncternal Therapeutics (NASDAQ:ONCT) in a report released on Wednesday. The firm set a “hold” rating on the stock.

Separately, HC Wainwright decreased their target price on Oncternal Therapeutics from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Monday.

Oncternal Therapeutics Stock Down 3.9 %

Shares of ONCT stock opened at $8.60 on Wednesday. The stock has a 50-day moving average price of $8.90 and a 200 day moving average price of $8.11. The firm has a market cap of $23.13 million, a price-to-earnings ratio of -0.64 and a beta of 1.26. Oncternal Therapeutics has a 12 month low of $5.57 and a 12 month high of $13.14.

Oncternal Therapeutics (NASDAQ:ONCT) last announced its quarterly earnings data on Thursday, March 7th. The company reported ($3.11) EPS for the quarter, missing analysts’ consensus estimates of ($3.09) by ($0.02). The firm had revenue of $0.30 million during the quarter, compared to analyst estimates of $0.17 million. Oncternal Therapeutics had a negative return on equity of 95.87% and a negative net margin of 5,029.17%. During the same quarter in the previous year, the business earned ($4.00) earnings per share. Sell-side analysts predict that Oncternal Therapeutics will post -12.03 earnings per share for the current fiscal year.

Insider Transactions at Oncternal Therapeutics

In related news, Director Robert James Wills bought 3,086 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was bought at an average cost of $8.96 per share, for a total transaction of $27,650.56. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at $89,600. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last ninety days, insiders purchased 10,714 shares of company stock worth $92,736. 8.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Oncternal Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of ONCT. Millennium Management LLC grew its position in shares of Oncternal Therapeutics by 187.9% in the 2nd quarter. Millennium Management LLC now owns 1,296,115 shares of the company’s stock valued at $1,439,000 after purchasing an additional 845,991 shares during the period. Vanguard Group Inc. grew its position in shares of Oncternal Therapeutics by 34.1% in the 3rd quarter. Vanguard Group Inc. now owns 2,863,217 shares of the company’s stock valued at $2,553,000 after purchasing an additional 728,200 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Oncternal Therapeutics in the 1st quarter valued at approximately $585,000. Renaissance Technologies LLC grew its position in shares of Oncternal Therapeutics by 52.2% in the 3rd quarter. Renaissance Technologies LLC now owns 979,800 shares of the company’s stock valued at $874,000 after purchasing an additional 336,066 shares during the period. Finally, Pasadena Private Wealth LLC grew its position in shares of Oncternal Therapeutics by 79.4% in the 4th quarter. Pasadena Private Wealth LLC now owns 500,000 shares of the company’s stock valued at $268,000 after purchasing an additional 221,250 shares during the period. 16.05% of the stock is currently owned by institutional investors and hedge funds.

Oncternal Therapeutics Company Profile

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.