Onconova Therapeutics (NASDAQ:ONTX) Receives New Coverage from Analysts at StockNews.com

Posted by on Apr 27th, 2023

Stock analysts at StockNews.com initiated coverage on shares of Onconova Therapeutics (NASDAQ:ONTX – Get Rating) in a research report issued to clients and investors on Thursday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

Separately, HC Wainwright raised shares of Onconova Therapeutics from a “neutral” rating to a “buy” rating and set a $11.00 price target on the stock in a research note on Friday, April 21st.

Onconova Therapeutics Stock Down 11.0 %

ONTX stock opened at $1.05 on Thursday. The company’s 50-day simple moving average is $0.79 and its 200-day simple moving average is $0.80. Onconova Therapeutics has a 52-week low of $0.62 and a 52-week high of $1.52. The firm has a market cap of $22.02 million, a P/E ratio of -1.15 and a beta of 1.78.

Institutional Trading of Onconova Therapeutics

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Onconova Therapeutics by 21.7% in the third quarter. Vanguard Group Inc. now owns 622,958 shares of the biopharmaceutical company’s stock valued at $549,000 after purchasing an additional 110,965 shares during the period. Renaissance Technologies LLC raised its position in Onconova Therapeutics by 3.6% in the second quarter. Renaissance Technologies LLC now owns 333,323 shares of the biopharmaceutical company’s stock valued at $440,000 after purchasing an additional 11,580 shares during the period. Millennium Management LLC raised its position in Onconova Therapeutics by 154.6% in the second quarter. Millennium Management LLC now owns 61,390 shares of the biopharmaceutical company’s stock valued at $81,000 after purchasing an additional 37,275 shares during the period. Finally, Beacon Pointe Advisors LLC raised its position in Onconova Therapeutics by 147.0% in the first quarter. Beacon Pointe Advisors LLC now owns 46,027 shares of the biopharmaceutical company’s stock valued at $85,000 after purchasing an additional 27,396 shares during the period. Hedge funds and other institutional investors own 8.30% of the company’s stock.

Onconova Therapeutics Company Profile

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Onconova Therapeutics, Inc is a clinical-stage biopharmaceutical company, which engages in the identification and development of oncology therapeutics. It focuses on discovering and developing small molecule drug candidates to treat cancer. The company was founded by Ramesh Kumar and E. Premkumar Reddy on December 22, 1998 and is headquartered in Newtown, PA.

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