Short Interest in Oncternal Therapeutics, Inc. (NASDAQ:ONCT) Decreases By 46.6%

Posted by Stuart Ham on May 26th, 2023

Oncternal Therapeutics, Inc. (NASDAQ:ONCT – Get Rating) saw a large decline in short interest during the month of May. As of May 15th, there was short interest totalling 257,000 shares, a decline of 46.6% from the April 30th total of 480,900 shares. Based on an average daily volume of 545,200 shares, the short-interest ratio is presently 0.5 days.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Brookline Capital Management downgraded shares of Oncternal Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, April 3rd. Cantor Fitzgerald lowered shares of Oncternal Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Thursday, April 6th. Oppenheimer lowered shares of Oncternal Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, April 4th. Brookline Capital Acquisition reiterated a “hold” rating on shares of Oncternal Therapeutics in a report on Tuesday, April 4th. Finally, StockNews.com began coverage on shares of Oncternal Therapeutics in a report on Tuesday. They set a “sell” rating for the company. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat.com, Oncternal Therapeutics presently has an average rating of “Hold” and a consensus target price of $5.77.

Insider Transactions at Oncternal Therapeutics

In related news, CEO James B. Breitmeyer bought 100,000 shares of Oncternal Therapeutics stock in a transaction that occurred on Thursday, April 13th. The stock was acquired at an average price of $0.29 per share, with a total value of $29,000.00. Following the acquisition, the chief executive officer now owns 146,544 shares of the company’s stock, valued at approximately $42,497.76. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have bought 160,000 shares of company stock worth $46,650 in the last ninety days. Insiders own 8.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Waypoint Capital Advisors LLC bought a new stake in shares of Oncternal Therapeutics in the fourth quarter valued at about $38,000. Renaissance Technologies LLC raised its holdings in Oncternal Therapeutics by 18.4% in the second quarter. Renaissance Technologies LLC now owns 643,734 shares of the company’s stock worth $715,000 after purchasing an additional 99,934 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Oncternal Therapeutics in the first quarter worth about $585,000. Two Sigma Investments LP grew its stake in shares of Oncternal Therapeutics by 136.0% during the third quarter. Two Sigma Investments LP now owns 356,244 shares of the company’s stock worth $318,000 after acquiring an additional 205,312 shares during the last quarter. Finally, Two Sigma Advisers LP grew its stake in shares of Oncternal Therapeutics by 118.5% during the third quarter. Two Sigma Advisers LP now owns 295,200 shares of the company’s stock worth $263,000 after acquiring an additional 160,100 shares during the last quarter. 16.66% of the stock is owned by hedge funds and other institutional investors.

Oncternal Therapeutics Stock Down 7.1 %

Shares of NASDAQ ONCT opened at $0.30 on Friday. The firm’s 50-day moving average price is $0.42 and its 200-day moving average price is $0.80. Oncternal Therapeutics has a 52-week low of $0.26 and a 52-week high of $1.87.

Oncternal Therapeutics (NASDAQ:ONCT – Get Rating) last released its quarterly earnings data on Thursday, March 9th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.02. The firm had revenue of $0.17 million for the quarter, compared to analysts’ expectations of $0.37 million. Oncternal Therapeutics had a negative net margin of 4,831.36% and a negative return on equity of 71.49%. As a group, equities research analysts forecast that Oncternal Therapeutics will post -0.6 EPS for the current year.

Oncternal Therapeutics Company Profile

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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 Zilovertamab, ONCT-216, ONCT-808 and ONCT-534. The company was founded by David F. Hale and James B. Breitmeyer in September 1997 and is headquartered in San Diego, CA.