Onconova Therapeutics (NASDAQ:ONTX) Stock Crosses Above 50-Day Moving Average of $1.97

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Onconova Therapeutics Inc (NASDAQ:ONTX)’s share price crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $1.97 and traded as high as $0.86. Onconova Therapeutics shares last traded at $0.86, with a volume of 1,602 shares changing hands.

Several brokerages have recently issued reports on ONTX. Noble Financial began coverage on Onconova Therapeutics in a report on Thursday, July 25th. They set an “outperform” rating and a $12.00 price target for the company. ValuEngine lowered Onconova Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Maxim Group set a $8.00 price target on Onconova Therapeutics and gave the company a “buy” rating in a report on Monday, September 9th. Finally, Zacks Investment Research lowered Onconova Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, September 25th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $11.88.

The firm has a market capitalization of $4.66 million, a price-to-earnings ratio of -0.16 and a beta of 2.54. The company has a fifty day moving average price of $1.87 and a 200-day moving average price of $2.93.

Onconova Therapeutics (NASDAQ:ONTX) last announced its quarterly earnings results on Wednesday, August 14th. The biopharmaceutical company reported ($0.60) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.98) by $0.38. The business had revenue of $2.02 million during the quarter, compared to analyst estimates of $0.25 million. Onconova Therapeutics had a negative return on equity of 872.01% and a negative net margin of 976.64%. On average, research analysts anticipate that Onconova Therapeutics Inc will post -3.49 EPS for the current fiscal year.

In related news, insider 683 Capital Management, Llc sold 506,877 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $2.03, for a total value of $1,028,960.31. Also, major shareholder Tyndall Capital Partners L. P sold 75,119 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $1.62, for a total value of $121,692.78. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 671,280 shares of company stock valued at $1,307,088. 9.70% of the stock is owned by corporate insiders.

A hedge fund recently bought a new stake in Onconova Therapeutics stock. Citadel Advisors LLC bought a new position in Onconova Therapeutics Inc (NASDAQ:ONTX) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 16,713 shares of the biopharmaceutical company’s stock, valued at approximately $48,000. Citadel Advisors LLC owned about 0.28% of Onconova Therapeutics as of its most recent filing with the Securities and Exchange Commission. 39.47% of the stock is owned by institutional investors.

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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