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

Equities research analysts at StockNews.com initiated coverage on shares of Oncternal Therapeutics (NASDAQ:ONCT) in a research note issued to investors on Saturday. The firm set a “hold” rating on the stock.

Separately, HC Wainwright dropped their target price on shares of Oncternal Therapeutics from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Monday, August 12th.

Oncternal Therapeutics Stock Performance

ONCT opened at $4.11 on Friday. The firm’s fifty day moving average is $6.13 and its 200 day moving average is $7.83. Oncternal Therapeutics has a fifty-two week low of $3.25 and a fifty-two week high of $13.14. The stock has a market cap of $12.17 million, a price-to-earnings ratio of -0.33 and a beta of 1.36.

Oncternal Therapeutics (NASDAQ:ONCT) last released its earnings results on Thursday, August 8th. The company reported ($2.89) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.03) by $0.14. Oncternal Therapeutics had a negative return on equity of 136.10% and a negative net margin of 1,948.70%. The firm had revenue of $0.80 million during the quarter, compared to analysts’ expectations of $0.24 million. During the same quarter last year, the business posted ($3.00) earnings per share. On average, equities research analysts predict that Oncternal Therapeutics will post -11.4 earnings per share for the current year.

Institutional Trading of Oncternal Therapeutics

A hedge fund recently bought a new stake in Oncternal Therapeutics stock. Pasadena Private Wealth LLC purchased a new position in Oncternal Therapeutics, Inc. (NASDAQ:ONCT) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 25,000 shares of the company’s stock, valued at approximately $190,000. Pasadena Private Wealth LLC owned about 0.84% of Oncternal Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC). 16.05% of the stock is owned by institutional investors.

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.