Stock Traders Purchase Large Volume of Call Options on Onconova Therapeutics (NASDAQ:ONTX)

Onconova Therapeutics, Inc. (NASDAQ:ONTX) saw some unusual options trading on Wednesday. Traders acquired 6,127 call options on the company. This is an increase of approximately 7,755% compared to the typical volume of 78 call options.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Marshall Wace LLP bought a new stake in shares of Onconova Therapeutics in the second quarter worth $169,000. State Street Corp lifted its position in Onconova Therapeutics by 23.9% during the second quarter. State Street Corp now owns 115,090 shares of the biopharmaceutical company’s stock valued at $798,000 after purchasing an additional 22,190 shares in the last quarter. Jump Financial LLC purchased a new position in Onconova Therapeutics during the second quarter valued at $128,000. Dimensional Fund Advisors LP purchased a new position in Onconova Therapeutics during the second quarter valued at $509,000. Finally, Deutsche Bank AG purchased a new position in Onconova Therapeutics during the second quarter valued at $113,000. 15.45% of the stock is owned by institutional investors.

Shares of Onconova Therapeutics stock traded up $1.14 on Wednesday, reaching $6.04. The company’s stock had a trading volume of 950,321 shares, compared to its average volume of 1,762,690. The company has a market capitalization of $95.32 million, a price-to-earnings ratio of -4.07 and a beta of 1.74. The firm’s fifty day simple moving average is $5.09 and its two-hundred day simple moving average is $8.33. Onconova Therapeutics has a 52 week low of $3.60 and a 52 week high of $28.95.

Onconova Therapeutics (NASDAQ:ONTX) last issued its quarterly earnings data on Thursday, August 12th. The biopharmaceutical company reported ($0.27) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.28) by $0.01. Onconova Therapeutics had a negative return on equity of 97.66% and a negative net margin of 9,159.32%. As a group, analysts expect that Onconova Therapeutics will post -1.16 EPS for the current fiscal year.

A number of research firms recently weighed in on ONTX. Noble Financial reaffirmed a “buy” rating and set a $11.00 price objective on shares of Onconova Therapeutics in a research report on Tuesday, June 29th. Zacks Investment Research lowered Onconova Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, September 7th.

About Onconova Therapeutics

Onconova Therapeutics, Inc is a clinical-stage biopharmaceutical company, which engages in the identification and development of oncology therapeutics. It focuses on discovering and developing small molecule drug candidates to treat cancer. The company was founded by Ramesh Kumar and E. Premkumar Reddy on December 22, 1998 and is headquartered in Newtown, PA.

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