Onconova Therapeutics (NASDAQ:ONTX) Shares Gap Down to $1.80
Onconova Therapeutics Inc (NASDAQ:ONTX) gapped down prior to trading on Wednesday . The stock had previously closed at $1.86, but opened at $1.80. Onconova Therapeutics shares last traded at $1.76, with a volume of 4,655,080 shares trading hands.
Several brokerages have recently issued reports on ONTX. Noble Financial began coverage on shares of Onconova Therapeutics in a research note on Thursday, July 25th. They issued an “outperform” rating and a $12.00 target price on the stock. Zacks Investment Research raised shares of Onconova Therapeutics from a “hold” rating to a “strong-buy” rating and set a $2.50 target price on the stock in a research note on Tuesday, August 20th. Maxim Group set a $8.00 target price on shares of Onconova Therapeutics and gave the company a “buy” rating in a research note on Monday, September 9th. Finally, ValuEngine raised shares of Onconova Therapeutics from a “hold” rating to a “buy” rating in a research note on Wednesday, September 4th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $11.88.
The company has a market cap of $10.56 million, a P/E ratio of -0.35 and a beta of 2.63. The firm’s 50 day moving average price is $2.38 and its 200-day moving average price is $3.19.
In related news, major shareholder Tyndall Capital Partners L. P sold 10,927 shares of Onconova Therapeutics stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $2.83, for a total transaction of $30,923.41. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 15,812 shares of company stock worth $46,283 in the last three months. 9.70% of the stock is owned by insiders.
An institutional investor recently raised its position in Onconova Therapeutics stock. Vanguard Group Inc. increased its position in shares of Onconova Therapeutics Inc (NASDAQ:ONTX) by 61.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 66,168 shares of the biopharmaceutical company’s stock after acquiring an additional 25,305 shares during the quarter. Vanguard Group Inc. owned about 1.10% of Onconova Therapeutics worth $189,000 as of its most recent SEC filing. 39.47% of the stock is owned by institutional investors and hedge funds.
Onconova Therapeutics Company Profile (NASDAQ:ONTX)
Onconova Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing small molecule product candidates to treat cancer. Its product candidates include Rigosertib IV, which is in Phase III clinical trial for patients with higher risk myelodysplastic syndromes (MDS); Rigosertib oral in combination with azacitidine that is in Phase II clinical trial for patients with higher-risk MDS; and Rigosertib oral, which is in Phase II clinical trial for patients with lower risk MDS.
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