Onconova Therapeutics (NASDAQ:ONTX) Shares Cross Below 200-Day Moving Average of $0.96

Onconova Therapeutics, Inc. (NASDAQ:ONTXGet Rating)’s stock price passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $0.96 and traded as low as $0.80. Onconova Therapeutics shares last traded at $0.83, with a volume of 42,079 shares.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Onconova Therapeutics in a research report on Saturday. They set a “hold” rating on the stock.

Onconova Therapeutics Trading Down 3.0 %

The stock has a market cap of $17.34 million, a P/E ratio of -1.02 and a beta of 1.50. The company has a 50-day moving average price of $0.78 and a two-hundred day moving average price of $0.96.

Onconova Therapeutics (NASDAQ:ONTXGet Rating) last released its earnings results on Monday, November 14th. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.05). The company had revenue of $0.06 million for the quarter, compared to the consensus estimate of $0.06 million. Onconova Therapeutics had a negative net margin of 7,658.41% and a negative return on equity of 43.20%. As a group, equities analysts forecast that Onconova Therapeutics, Inc. will post -0.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Onconova Therapeutics

Several large investors have recently modified their holdings of the stock. Millennium Management LLC boosted its holdings in Onconova Therapeutics by 154.6% during the 2nd quarter. Millennium Management LLC now owns 61,390 shares of the biopharmaceutical company’s stock valued at $81,000 after acquiring an additional 37,275 shares during the period. Beacon Pointe Advisors LLC boosted its holdings in 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 acquiring an additional 27,396 shares during the period. Renaissance Technologies LLC boosted its holdings in Onconova Therapeutics by 3.6% during the 2nd quarter. Renaissance Technologies LLC now owns 333,323 shares of the biopharmaceutical company’s stock valued at $440,000 after acquiring an additional 11,580 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Onconova Therapeutics by 21.7% during the 3rd quarter. Vanguard Group Inc. now owns 622,958 shares of the biopharmaceutical company’s stock valued at $549,000 after acquiring an additional 110,965 shares during the period. Institutional investors own 8.30% of the company’s stock.

Onconova Therapeutics Company Profile

(Get Rating)

Onconova Therapeutics, Inc is a clinical-stage biopharmaceutical company, which engages in the identification and development of oncology therapeutics. It focuses on discovering and developing small molecule drug candidates to treat cancer. The company was founded by Ramesh Kumar and E. Premkumar Reddy on December 22, 1998 and is headquartered in Newtown, PA.

Further Reading

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