Onconova Therapeutics (NASDAQ:ONTX) Share Price Passes Below 200 Day Moving Average of $1.35

Shares of Onconova Therapeutics, Inc. (NASDAQ:ONTXGet Rating) crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.35 and traded as low as $0.95. Onconova Therapeutics shares last traded at $0.97, with a volume of 81,776 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Onconova Therapeutics in a report on Friday. They issued a “hold” rating for the company.

Onconova Therapeutics Stock Performance

The firm has a market capitalization of $20.20 million, a PE ratio of -1.26 and a beta of 1.47. The company has a fifty day simple moving average of $1.22 and a two-hundred day simple moving average of $1.35.

Onconova Therapeutics (NASDAQ:ONTXGet Rating) last announced its earnings results on Thursday, August 11th. The biopharmaceutical company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.01. The company had revenue of $0.06 million for the quarter, compared to analyst estimates of $0.06 million. Onconova Therapeutics had a negative return on equity of 34.81% and a negative net margin of 6,797.79%. On average, equities analysts anticipate that Onconova Therapeutics, Inc. will post -0.8 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Onconova Therapeutics

A number of hedge funds have recently bought and sold shares of the business. Millennium Management LLC boosted its stake in Onconova Therapeutics by 154.6% during the second quarter. Millennium Management LLC now owns 61,390 shares of the biopharmaceutical company’s stock worth $81,000 after buying an additional 37,275 shares during the last quarter. Beacon Pointe Advisors LLC raised its position in shares of Onconova Therapeutics by 147.0% during the 1st quarter. Beacon Pointe Advisors LLC now owns 46,027 shares of the biopharmaceutical company’s stock valued at $85,000 after buying an additional 27,396 shares during the period. Finally, Renaissance Technologies LLC grew its position in Onconova Therapeutics by 3.6% in the second quarter. Renaissance Technologies LLC now owns 333,323 shares of the biopharmaceutical company’s stock worth $440,000 after acquiring an additional 11,580 shares during the period. Hedge funds and other institutional investors own 8.83% of the company’s stock.

Onconova Therapeutics Company Profile

(Get Rating)

Onconova Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing novel products to treat cancer. It has two clinical-stage programs, including narazaciclib (ON 123300), a multi-targeted kinase inhibitor that is in Phase I study for solid tumors, as well as hematological malignancies as a single agent or in combination with other anti-cancer therapies; and oral rigosertib alone or in combination with PD-1 inhibitor, which is in Phase I/IIa for the treatment of progressive K-Ras mutated non-small cell lung cancer.

Featured Stories

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