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

Equities researchers at StockNews.com initiated coverage on shares of Oncternal Therapeutics (NASDAQ:ONCT) in a report released on Thursday. The brokerage set a “hold” rating on the stock.

Separately, HC Wainwright lowered their target price on shares of Oncternal Therapeutics from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Monday, April 15th.

Oncternal Therapeutics Stock Performance

Shares of NASDAQ:ONCT opened at $8.29 on Thursday. The firm has a market cap of $22.29 million, a PE ratio of -0.61 and a beta of 1.26. The firm’s fifty day moving average is $8.84 and its 200-day moving average is $8.22. Oncternal Therapeutics has a 52 week low of $5.57 and a 52 week high of $13.14.

Oncternal Therapeutics (NASDAQ:ONCT) last issued its quarterly earnings results on Thursday, March 7th. The company reported ($3.11) EPS for the quarter, missing analysts’ consensus estimates of ($3.09) by ($0.02). Oncternal Therapeutics had a negative return on equity of 95.87% and a negative net margin of 5,029.17%. The business had revenue of $0.30 million for the quarter, compared to analyst estimates of $0.17 million. During the same quarter last year, the firm posted ($4.00) EPS. Sell-side analysts forecast that Oncternal Therapeutics will post -10.67 EPS for the current year.

Insider Buying and Selling

In other news, Director Robert James Wills bought 6,914 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was acquired at an average price of $8.48 per share, with a total value of $58,630.72. Following the completion of the purchase, the director now directly owns 6,914 shares of the company’s stock, valued at $58,630.72. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders bought 10,714 shares of company stock valued at $92,736 over the last quarter. Insiders own 8.00% of the company’s stock.

Institutional Investors Weigh In On Oncternal Therapeutics

A hedge fund recently raised its stake in Oncternal Therapeutics stock. Richmond Brothers Inc. raised its stake in Oncternal Therapeutics, Inc. (NASDAQ:ONCT) by 69.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 494,042 shares of the company’s stock after purchasing an additional 203,010 shares during the period. Oncternal Therapeutics accounts for 0.3% of Richmond Brothers Inc.’s holdings, making the stock its 22nd biggest holding. Richmond Brothers Inc. owned 0.84% of Oncternal Therapeutics worth $148,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors 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.