Oncternal Therapeutics (NASDAQ:ONCT) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Oncternal Therapeutics (NASDAQ:ONCT) in a report released on Friday morning. The firm issued a hold rating on the stock.

Separately, HC Wainwright reduced their target price on Oncternal Therapeutics from $30.00 to $28.00 and set a buy rating on the stock in a research note on Monday, April 15th.

Oncternal Therapeutics Trading Up 5.9 %

ONCT stock opened at $8.74 on Friday. The stock has a market cap of $25.87 million, a PE ratio of -0.65 and a beta of 1.28. Oncternal Therapeutics has a 12 month low of $5.57 and a 12 month high of $13.14. The company has a 50-day moving average price of $8.79 and a 200 day moving average price of $8.34.

Oncternal Therapeutics (NASDAQ:ONCT) last announced its earnings results on Thursday, March 7th. The company reported ($3.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($3.09) by ($0.02). Oncternal Therapeutics had a negative net margin of 5,029.17% and a negative return on equity of 95.87%. The business had revenue of $0.30 million for the quarter, compared to analysts’ expectations of $0.17 million. During the same quarter last year, the firm earned ($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 3,086 shares of the firm’s stock in a transaction on Monday, April 8th. The stock was acquired at an average cost of $8.96 per share, with a total value of $27,650.56. Following the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $89,600. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have bought a total of 10,714 shares of company stock valued at $92,736 over the last quarter. 8.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Oncternal Therapeutics

A hedge fund recently raised its stake in Oncternal Therapeutics stock. Richmond Brothers Inc. raised its holdings in shares of Oncternal Therapeutics, Inc. (NASDAQ:ONCT) by 69.8% during the third quarter, according to its most recent filing with the SEC. The firm owned 494,042 shares of the company’s stock after purchasing an additional 203,010 shares during the period. Oncternal Therapeutics accounts for about 0.3% of Richmond Brothers Inc.’s portfolio, making the stock its 22nd largest position. Richmond Brothers Inc. owned 0.84% of Oncternal Therapeutics worth $148,000 as of its most recent SEC filing. Institutional investors own 16.05% of the company’s stock.

Oncternal Therapeutics Company Profile

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.