Oncternal Therapeutics, Inc. (NASDAQ:ONCT) to Post Q1 2024 Earnings of ($3.30) Per Share, HC Wainwright Forecasts

Oncternal Therapeutics, Inc. (NASDAQ:ONCT) – Investment analysts at HC Wainwright boosted their Q1 2024 earnings per share estimates for Oncternal Therapeutics in a research report issued to clients and investors on Monday, April 15th. HC Wainwright analyst R. Selvaraju now forecasts that the company will post earnings per share of ($3.30) for the quarter, up from their prior forecast of ($3.52). HC Wainwright has a “Buy” rating and a $28.00 price objective on the stock. The consensus estimate for Oncternal Therapeutics’ current full-year earnings is ($11.97) per share. HC Wainwright also issued estimates for Oncternal Therapeutics’ Q2 2024 earnings at ($3.42) EPS, Q3 2024 earnings at ($3.63) EPS, Q4 2024 earnings at ($3.68) EPS and FY2024 earnings at ($14.04) EPS.

Separately, StockNews.com initiated coverage on Oncternal Therapeutics in a research report on Wednesday. They set a “hold” rating on the stock.

Oncternal Therapeutics Stock Performance

ONCT opened at $9.15 on Thursday. The business’s 50-day simple moving average is $8.89 and its 200-day simple moving average is $8.13. Oncternal Therapeutics has a one year low of $5.57 and a one year high of $13.14. The stock has a market capitalization of $24.61 million, a P/E ratio of -0.68 and a beta of 1.26.

Oncternal Therapeutics (NASDAQ:ONCT) last posted its quarterly earnings results on Thursday, March 7th. The company reported ($3.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($3.09) by ($0.02). Oncternal Therapeutics had a negative net margin of 5,029.17% and a negative return on equity of 95.87%. The business had revenue of $0.30 million during the quarter, compared to analyst estimates of $0.17 million. During the same quarter in the prior year, the business earned ($4.00) earnings per share.

Hedge Funds Weigh In On Oncternal Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in ONCT. Citadel Advisors LLC purchased a new position in shares of Oncternal Therapeutics during the fourth quarter worth about $29,000. Prudential Financial Inc. purchased a new position in shares of Oncternal Therapeutics during the second quarter worth about $32,000. Mirabella Financial Services LLP purchased a new position in shares of Oncternal Therapeutics during the first quarter worth about $38,000. Virtu Financial LLC purchased a new stake in Oncternal Therapeutics in the 2nd quarter valued at approximately $48,000. Finally, Susquehanna International Group LLP purchased a new stake in Oncternal Therapeutics in the 1st quarter valued at approximately $99,000. Hedge funds and other institutional investors own 16.05% of the company’s stock.

Insider Transactions at Oncternal Therapeutics

In related news, Director Robert James Wills purchased 3,086 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were purchased at an average price of $8.96 per share, with a total value of $27,650.56. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $89,600. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last 90 days, insiders have bought 10,714 shares of company stock worth $92,736. Corporate insiders own 8.00% of the company’s stock.

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.