StockNews.com Initiates Coverage on Oncternal Therapeutics (NASDAQ:ONCT)

Equities research analysts at StockNews.com began coverage on shares of Oncternal Therapeutics (NASDAQ:ONCT) in a research report issued on Friday. The firm set a “hold” rating on the stock.

Separately, HC Wainwright decreased their target price on Oncternal Therapeutics from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, April 15th.

Oncternal Therapeutics Stock Performance

ONCT opened at $8.75 on Friday. The stock has a fifty day moving average of $8.79 and a 200-day moving average of $8.31. The company has a market capitalization of $25.89 million, a P/E ratio of -0.65 and a beta of 1.28. Oncternal Therapeutics has a fifty-two week low of $5.57 and a fifty-two week high of $13.14.

Oncternal Therapeutics (NASDAQ:ONCT) last issued its quarterly earnings results on Thursday, March 7th. The company reported ($3.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($3.09) by ($0.02). The company had revenue of $0.30 million for the quarter, compared to analyst estimates of $0.17 million. Oncternal Therapeutics had a negative return on equity of 95.87% and a negative net margin of 5,029.17%. During the same period in the prior year, the company earned ($4.00) EPS. On average, equities research analysts predict that Oncternal Therapeutics will post -10.67 earnings per share for the current fiscal year.

Insider Activity at Oncternal Therapeutics

In other Oncternal Therapeutics news, Director Robert James Wills purchased 3,086 shares of the business’s stock in a transaction dated Monday, April 8th. The shares were bought at an average price of $8.96 per share, for a total transaction of $27,650.56. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at $89,600. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders acquired a total of 10,714 shares of company stock worth $92,736 in the last quarter. 8.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Oncternal Therapeutics

A hedge fund recently raised its stake in Oncternal Therapeutics stock. Pasadena Private Wealth LLC raised its stake in Oncternal Therapeutics, Inc. (NASDAQ:ONCT) by 79.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 500,000 shares of the company’s stock after purchasing an additional 221,250 shares during the period. Pasadena Private Wealth LLC owned 16.96% of Oncternal Therapeutics worth $268,000 as of its most recent SEC filing. 16.05% of the stock is owned by institutional investors and hedge funds.

About Oncternal Therapeutics

Oncternal Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development of oncology therapies for cancers with critical unmet medical needs. The company's clinical pipeline includes zilovertamab, a humanized monoclonal antibody that binds to receptor-tyrosine kinase-like Orphan Receptor 1 (ROR1); and ONCT-216, a small molecule inhibiting the biological activity of ETS-family transcription factor oncoproteins, which is in Phase 1/2 clinical trial.