Onconova Therapeutics Inc. (NASDAQ:ONTX) hit a new 52-week high and low during mid-day trading on Friday . The stock traded as low as $0.54 and last traded at $0.57, with a volume of 326877 shares traded. The stock had previously closed at $0.58.
Several brokerages have recently issued reports on ONTX. Zacks Investment Research raised Onconova Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, January 10th. HC Wainwright reiterated a “buy” rating and issued a $8.00 price target on shares of Onconova Therapeutics in a research report on Friday, March 9th. Maxim Group lowered Onconova Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, January 17th. Finally, ValuEngine upgraded Onconova Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, March 14th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $6.25.
The stock has a market capitalization of $11.66, a P/E ratio of -0.21 and a beta of 0.34.
Onconova Therapeutics (NASDAQ:ONTX) last released its quarterly earnings results on Thursday, March 8th. The biopharmaceutical company reported ($0.59) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.69) by $0.10. The company had revenue of $0.14 million during the quarter, compared to analysts’ expectations of $0.31 million. equities analysts predict that Onconova Therapeutics Inc. will post -1.41 earnings per share for the current year.
In other Onconova Therapeutics news, major shareholder 683 Capital Management, Llc bought 200,000 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was acquired at an average price of $1.04 per share, for a total transaction of $208,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 13.30% of the stock is owned by insiders.
A hedge fund recently raised its stake in Onconova Therapeutics stock. 683 Capital Management LLC raised its holdings in shares of Onconova Therapeutics Inc. (NASDAQ:ONTX) by 24.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 464,934 shares of the biopharmaceutical company’s stock after buying an additional 89,934 shares during the period. 683 Capital Management LLC owned about 4.32% of Onconova Therapeutics worth $697,000 at the end of the most recent reporting period. Institutional investors own 12.44% of the company’s stock.
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About Onconova Therapeutics
Onconova Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing small molecule drug candidates to treat cancer. The company's clinical-stage product candidates include Rigosertib IV, which is in Phase III clinical trials for patients with higher risk myelodysplastic syndromes (MDS); Rigosertib oral in combination with azacitidine that is in Phase II clinical trials for patients with MDS and acute myelogenous leukemia; and Rigosertib oral, which is in Phase II clinical trials for patients with lower risk MDS.
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