Onconova Therapeutics (NASDAQ:ONTX) Shares Gap Down to $0.29

Shares of Onconova Therapeutics Inc (NASDAQ:ONTX) gapped down prior to trading on Friday . The stock had previously closed at $0.28, but opened at $0.29. Onconova Therapeutics shares last traded at $0.35, with a volume of 1,024,205 shares traded.

Several research analysts have weighed in on the company. Zacks Investment Research upgraded Onconova Therapeutics from a “hold” rating to a “buy” rating and set a $0.75 price target for the company in a report on Wednesday, October 30th. ValuEngine cut Onconova Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Maxim Group cut Onconova Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, November 26th. Finally, Noble Financial reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Onconova Therapeutics in a research report on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Onconova Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $11.44.

The company has a market cap of $2.10 million, a PE ratio of -0.07 and a beta of 2.22. The firm has a fifty day simple moving average of $0.46 and a 200 day simple moving average of $1.95.

In other Onconova Therapeutics news, major shareholder Tyndall Capital Partners L. P sold 49,995 shares of Onconova Therapeutics stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $2.10, for a total value of $104,989.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Steven M. Fruchtman purchased 149,000 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was bought at an average price of $0.20 per share, for a total transaction of $29,800.00. Following the acquisition, the insider now owns 149,426 shares in the company, valued at $29,885.20. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 833,315 shares of company stock valued at $182,503 and have sold 670,880 shares valued at $1,305,988. Corporate insiders own 9.70% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Sabby Management LLC purchased a new position in shares of Onconova Therapeutics in the 3rd quarter worth $682,000. Citadel Advisors LLC acquired a new position in Onconova Therapeutics in the second quarter valued at $48,000. Finally, Vanguard Group Inc. grew its position in Onconova Therapeutics by 61.9% during the second quarter. Vanguard Group Inc. now owns 66,168 shares of the biopharmaceutical company’s stock valued at $189,000 after acquiring an additional 25,305 shares during the period. 44.67% of the stock is currently owned by institutional investors and hedge funds.

Onconova Therapeutics Company Profile (NASDAQ:ONTX)

Onconova Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing small molecule product candidates to treat cancer. Its product candidates include Rigosertib IV, which is in Phase III clinical trial for patients with higher risk myelodysplastic syndromes (MDS); Rigosertib oral in combination with azacitidine that is in Phase II clinical trial for patients with higher-risk MDS; and Rigosertib oral, which is in Phase II clinical trial for patients with lower risk MDS.

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