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

Research analysts at StockNews.com began coverage on shares of Oncternal Therapeutics (NASDAQ:ONCT) in a note issued to investors on Thursday. The firm set a “hold” rating on the stock.

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

Oncternal Therapeutics Stock Performance

ONCT opened at $8.61 on Thursday. The stock has a market cap of $23.16 million, a price-to-earnings ratio of -0.64 and a beta of 1.26. The stock’s 50 day moving average price is $8.85 and its 200-day moving average price is $8.20. Oncternal Therapeutics has a one year low of $5.57 and a one year high of $13.14.

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

Insider Buying and Selling

In other news, Director Robert James Wills acquired 3,086 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The shares were bought at an average price of $8.96 per share, with a total value of $27,650.56. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at $89,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have bought a total of 10,714 shares of company stock valued at $92,736 over the last quarter. 8.00% of the stock is owned by corporate insiders.

Institutional Trading of Oncternal Therapeutics

An institutional investor recently raised its position in Oncternal Therapeutics stock. Richmond Brothers Inc. boosted its stake in shares of Oncternal Therapeutics, Inc. (NASDAQ:ONCT) by 69.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 494,042 shares of the company’s stock after buying an additional 203,010 shares during the period. Oncternal Therapeutics accounts for about 0.3% of Richmond Brothers Inc.’s investment portfolio, making the stock its 22nd biggest holding. Richmond Brothers Inc. owned approximately 0.84% of Oncternal Therapeutics worth $148,000 as of its most recent filing with the Securities & Exchange Commission. 16.05% of the stock is owned by institutional investors and hedge funds.

Oncternal Therapeutics Company Profile

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.