Onconova Therapeutics Inc. (NASDAQ:ONTX)’s share price reached a new 52-week high and low during trading on Friday . The company traded as low as $0.78 and last traded at $0.80, with a volume of 304118 shares traded. The stock had previously closed at $0.80.
A number of research firms have recently commented on ONTX. Maxim Group downgraded Onconova Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, January 17th. HC Wainwright restated a “buy” rating and issued a $6.00 price objective on shares of Onconova Therapeutics in a report on Thursday, January 18th. Zacks Investment Research upgraded Onconova Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, January 10th. Finally, ValuEngine upgraded Onconova Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, March 14th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $8.00.
The company has a market cap of $16.67, a PE ratio of -0.30 and a beta of 0.34.
In related news, major shareholder 683 Capital Management, Llc bought 200,000 shares of the stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is accessible through this link. 13.30% of the stock is currently owned by company insiders.
An institutional investor recently raised its position in Onconova Therapeutics stock. 683 Capital Management LLC increased its stake in Onconova Therapeutics Inc. (NASDAQ:ONTX) by 24.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 464,934 shares of the biopharmaceutical company’s stock after buying an additional 89,934 shares during the quarter. 683 Capital Management LLC owned about 4.32% of Onconova Therapeutics worth $697,000 as of its most recent filing with the SEC. Institutional investors own 12.44% of the company’s stock.
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Onconova Therapeutics Company Profile
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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