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

StockNews.com started coverage on shares of Oncternal Therapeutics (NASDAQ:ONCT) in a report published on Tuesday morning. The brokerage issued a hold rating on the stock.

ONCT has been the topic of a number of other reports. HC Wainwright lowered their target price on shares of Oncternal Therapeutics from $19.00 to $18.00 and set a buy rating on the stock in a report on Monday, August 12th. Brookline Capital Management reiterated a hold rating on shares of Oncternal Therapeutics in a research note on Thursday, September 12th. Northland Securities restated a market perform rating and issued a $2.00 price objective on shares of Oncternal Therapeutics in a research note on Thursday, September 12th. Finally, Northland Capmk downgraded Oncternal Therapeutics from a strong-buy rating to a hold rating in a research note on Thursday, September 12th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Oncternal Therapeutics currently has an average rating of Hold and a consensus price target of $20.00.

Oncternal Therapeutics Stock Performance

Shares of ONCT opened at $1.45 on Tuesday. Oncternal Therapeutics has a 12 month low of $1.32 and a 12 month high of $13.14. The firm has a fifty day simple moving average of $4.20 and a 200 day simple moving average of $6.92. The stock has a market capitalization of $4.29 million, a price-to-earnings ratio of -0.12 and a beta of 1.39.

Oncternal Therapeutics (NASDAQ:ONCT) last released its earnings results on Thursday, August 8th. The company reported ($2.89) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.03) by $0.14. The business had revenue of $0.80 million for the quarter, compared to analyst estimates of $0.24 million. Oncternal Therapeutics had a negative return on equity of 136.10% and a negative net margin of 1,948.70%. During the same quarter in the prior year, the company posted ($3.00) earnings per share. As a group, research analysts predict that Oncternal Therapeutics will post -11.43 earnings per share for the current fiscal year.

Institutional Trading of Oncternal Therapeutics

An institutional investor recently bought a new position in Oncternal Therapeutics stock. Pasadena Private Wealth LLC acquired a new stake in shares of Oncternal Therapeutics, Inc. (NASDAQ:ONCT) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 25,000 shares of the company’s stock, valued at approximately $190,000. Pasadena Private Wealth LLC owned approximately 0.84% of Oncternal Therapeutics at the end of the most recent reporting period. Institutional investors and hedge funds own 16.05% of the company’s stock.

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.