Oncternal Therapeutics (NASDAQ:ONCT) Downgraded to “Hold” at Maxim Group

Posted by Defense World Staff on Apr 5th, 2023

Maxim Group downgraded shares of Oncternal Therapeutics (NASDAQ:ONCT – Get Rating) from a buy rating to a hold rating in a report issued on Tuesday, The Fly reports.

ONCT has been the subject of a number of other reports. StockNews.com began coverage on Oncternal Therapeutics in a report on Thursday, March 16th. They issued a sell rating for the company. Oppenheimer lowered Oncternal Therapeutics from an outperform rating to a market perform rating in a report on Tuesday. Cantor Fitzgerald cut their price target on Oncternal Therapeutics from $4.00 to $1.30 and set an overweight rating for the company in a report on Tuesday. HC Wainwright lowered Oncternal Therapeutics from a buy rating to a neutral rating in a report on Tuesday. Finally, Brookline Capital Management reaffirmed a buy rating on shares of Oncternal Therapeutics in a report on Thursday, March 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $5.77.

Oncternal Therapeutics Trading Down 56.9 %

Shares of ONCT opened at $0.34 on Tuesday. The stock has a 50 day moving average of $0.92 and a 200 day moving average of $0.98. Oncternal Therapeutics has a 12 month low of $0.28 and a 12 month high of $1.87. The company has a market capitalization of $19.98 million, a price-to-earnings ratio of -0.41 and a beta of 1.57.

Institutional Investors Weigh In On Oncternal Therapeutics

Several hedge funds have recently added to or reduced their stakes in ONCT. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Oncternal Therapeutics during the first quarter worth about $585,000. Vanguard Group Inc. lifted its stake in Oncternal Therapeutics by 9.0% during the first quarter. Vanguard Group Inc. now owns 2,325,515 shares of the company’s stock worth $3,232,000 after purchasing an additional 192,189 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Oncternal Therapeutics by 44.4% in the first quarter. Renaissance Technologies LLC now owns 543,800 shares of the company’s stock worth $756,000 after buying an additional 167,268 shares during the period. Mirabella Financial Services LLP purchased a new position in shares of Oncternal Therapeutics in the first quarter worth about $38,000. Finally, UBS Group AG increased its holdings in shares of Oncternal Therapeutics by 1,373.8% in the second quarter. UBS Group AG now owns 166,298 shares of the company’s stock worth $184,000 after buying an additional 155,014 shares during the period. Institutional investors own 16.66% of the company’s stock.

Oncternal Therapeutics Company Profile

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Oncternal Therapeutics, Inc engages in the development of novel oncology therapies for the treatment of cancers with critical unmet medical need. Its product pipeline include Zilovertamab, ONCT-216, ONCT-808 and ONCT-534. The company was founded by David F. Hale and James B. Breitmeyer in September 1997 and is headquartered in San Diego, CA.