Onconova Therapeutics (NASDAQ:ONTX) Stock Price Down 8.5%

Onconova Therapeutics, Inc. (NASDAQ:ONTX) shares traded down 8.5% during mid-day trading on Thursday . The stock traded as low as $0.46 and last traded at $0.47. 10,266,466 shares traded hands during trading, a decline of 37% from the average session volume of 16,342,688 shares. The stock had previously closed at $0.51.

ONTX has been the topic of several research analyst reports. Noble Financial upgraded shares of Onconova Therapeutics from a “market perform” rating to an “outperform” rating in a research report on Tuesday, December 22nd. Maxim Group reiterated a “hold” rating on shares of Onconova Therapeutics in a research note on Friday, November 13th. Finally, Zacks Investment Research cut Onconova Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, October 10th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $1.20.

The stock’s 50-day moving average price is $0.34 and its 200 day moving average price is $0.49. The firm has a market capitalization of $86.15 million, a price-to-earnings ratio of -0.31 and a beta of 1.93.

Onconova Therapeutics (NASDAQ:ONTX) last announced its quarterly earnings data on Thursday, November 12th. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The business had revenue of $0.07 million for the quarter, compared to analysts’ expectations of $4.10 million. Onconova Therapeutics had a negative net margin of 11,357.71% and a negative return on equity of 214.79%. Equities research analysts predict that Onconova Therapeutics, Inc. will post -0.12 EPS for the current year.

Several large investors have recently bought and sold shares of the stock. Jane Street Group LLC purchased a new position in Onconova Therapeutics during the second quarter worth approximately $28,000. Captrust Financial Advisors acquired a new stake in shares of Onconova Therapeutics in the 2nd quarter worth $59,000. Quilter Plc raised its holdings in shares of Onconova Therapeutics by 78.4% during the 3rd quarter. Quilter Plc now owns 284,750 shares of the biopharmaceutical company’s stock worth $80,000 after acquiring an additional 125,117 shares during the period. Squarepoint Ops LLC boosted its position in shares of Onconova Therapeutics by 3,020.1% during the 3rd quarter. Squarepoint Ops LLC now owns 331,039 shares of the biopharmaceutical company’s stock valued at $93,000 after acquiring an additional 320,429 shares during the last quarter. Finally, Perkins Capital Management Inc. acquired a new position in shares of Onconova Therapeutics during the 3rd quarter valued at about $105,000. 5.87% of the stock is owned by hedge funds and other institutional investors.

About Onconova Therapeutics (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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