Oncternal Therapeutics (NASDAQ:ONCT) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Oncternal Therapeutics (NASDAQ:ONCT) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning, Zacks.com reports.

According to Zacks, “Oncternal Therapeutics Inc. is a clinical-stage oncology company. It is engaged in developing treatments for cancers with critical unmet medical need. The company’s pipeline includes cirmtuzumab, TK-216 and CAR-T therapy that targets ROR1 which are in clinical stage. Oncternal Therapeutics Inc., formerly known as GTx Inc., is based in San Diego, California. “

Separately, HC Wainwright reiterated a buy rating and issued a $9.00 price target on shares of Oncternal Therapeutics in a research note on Tuesday, September 21st. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Oncternal Therapeutics presently has an average rating of Buy and an average price target of $14.33.

NASDAQ ONCT opened at $2.03 on Tuesday. The business has a fifty day moving average price of $2.83 and a two-hundred day moving average price of $3.65. Oncternal Therapeutics has a fifty-two week low of $1.95 and a fifty-two week high of $10.56. The stock has a market capitalization of $100.34 million, a PE ratio of -3.62 and a beta of 1.64.

Oncternal Therapeutics (NASDAQ:ONCT) last released its earnings results on Thursday, November 4th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.03). Oncternal Therapeutics had a negative return on equity of 24.69% and a negative net margin of 482.85%. The business had revenue of $2.13 million for the quarter, compared to the consensus estimate of $1.30 million. During the same quarter in the previous year, the company earned ($0.22) earnings per share. On average, equities research analysts expect that Oncternal Therapeutics will post -0.72 earnings per share for the current year.

Large investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA raised its position in Oncternal Therapeutics by 129.4% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 10,692 shares of the company’s stock worth $45,000 after purchasing an additional 6,032 shares during the last quarter. ProShare Advisors LLC acquired a new stake in Oncternal Therapeutics during the 2nd quarter worth about $55,000. Resources Investment Advisors LLC. acquired a new stake in Oncternal Therapeutics during the 3rd quarter worth about $59,000. SG Americas Securities LLC acquired a new stake in Oncternal Therapeutics during the 2nd quarter worth about $73,000. Finally, Occudo Quantitative Strategies LP grew its holdings in Oncternal Therapeutics by 38.2% during the 2nd quarter. Occudo Quantitative Strategies LP now owns 15,996 shares of the company’s stock worth $76,000 after acquiring an additional 4,423 shares during the period. 27.22% of the stock is owned by institutional investors and hedge funds.

About Oncternal Therapeutics

Oncternal Therapeutics, Inc engages in the development of novel oncology therapies for the treatment of cancers with critical unmet medical need. Its product pipeline include Cirmtuzumab, TK216, and ROR1 CAR-T. The company was founded by David F. Hale and James B. Breitmeyer in 1997 and is headquartered in San Diego, CA.

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