Traders Buy High Volume of Call Options on Oncternal Therapeutics (NASDAQ:ONCT)


Share on StockTwits

Oncternal Therapeutics, Inc. (NASDAQ:ONCT) saw some unusual options trading activity on Wednesday. Investors bought 8,279 call options on the stock. This is an increase of 680% compared to the average volume of 1,061 call options.

Several brokerages recently commented on ONCT. Northland Securities began coverage on shares of Oncternal Therapeutics in a research report on Tuesday, February 23rd. They set an “outperform” rating and a $21.00 price objective on the stock. Brookline Capital Acquisition assumed coverage on shares of Oncternal Therapeutics in a report on Tuesday, March 30th. They set a “buy” rating and a $16.00 price target on the stock. Oppenheimer assumed coverage on shares of Oncternal Therapeutics in a report on Tuesday. They set an “outperform” rating and a $14.00 price target on the stock. Zacks Investment Research raised shares of Oncternal Therapeutics from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a report on Tuesday, March 23rd. Finally, Brookline Capital Management reaffirmed a “buy” rating and set a $16.00 price target on shares of Oncternal Therapeutics in a report on Tuesday, March 30th. Six research analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and a consensus target price of $14.33.

Several hedge funds have recently bought and sold shares of ONCT. Morgan Stanley grew its holdings in shares of Oncternal Therapeutics by 25.8% in the third quarter. Morgan Stanley now owns 26,842 shares of the company’s stock valued at $46,000 after purchasing an additional 5,500 shares in the last quarter. Nantahala Capital Management LLC bought a new stake in shares of Oncternal Therapeutics in the third quarter valued at about $2,041,000. Vigilare Wealth Management bought a new stake in shares of Oncternal Therapeutics in the fourth quarter valued at about $110,000. XTX Markets LLC bought a new position in Oncternal Therapeutics in the fourth quarter worth about $53,000. Finally, BlackRock Inc. raised its holdings in Oncternal Therapeutics by 430.0% in the fourth quarter. BlackRock Inc. now owns 343,022 shares of the company’s stock worth $1,682,000 after purchasing an additional 278,306 shares in the last quarter. 10.79% of the stock is owned by hedge funds and other institutional investors.

NASDAQ ONCT traded up $0.73 on Wednesday, reaching $9.39. 9,890,600 shares of the stock were exchanged, compared to its average volume of 1,683,164. Oncternal Therapeutics has a one year low of $1.49 and a one year high of $10.56. The firm has a market capitalization of $462.75 million, a PE ratio of -8.24 and a beta of 1.66. The company’s 50-day simple moving average is $7.45 and its two-hundred day simple moving average is $4.76.

Oncternal Therapeutics (NASDAQ:ONCT) last released its earnings results on Thursday, March 11th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.09. Oncternal Therapeutics had a negative net margin of 746.10% and a negative return on equity of 150.58%. As a group, research analysts predict that Oncternal Therapeutics will post -0.89 earnings per share for the current year.

About Oncternal Therapeutics

Oncternal Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops oncology therapies for the treatment of cancers with critical unmet medical need. The company's product pipeline include cirmtuzumab, a monoclonal antibody designed to inhibit the receptor-tyrosine kinase-like orphan receptor 1 (ROR1) that is in Phase I/II clinical trial in combination with ibrutinib for the treatment of patients with mantle cell lymphoma and chronic lymphocytic leukemia; and is in Phase Ib clinical trial in combination with paclitaxel for the treatment of women with human epidermal growth factor receptor 2-negative metastatic or breast cancer.

Featured Story: Why Invest in Dividend Achievers?

Receive News & Ratings for Oncternal Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oncternal Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.