Onconova Therapeutics (NASDAQ:ONTX) Cut to Hold at ValuEngine
Several other brokerages have also issued reports on ONTX. Zacks Investment Research upgraded Hudson Technologies from a sell rating to a hold rating in a research report on Wednesday, May 29th. HC Wainwright set a $25.00 price objective on Onconova Therapeutics and gave the company a buy rating in a research report on Tuesday, May 14th. Finally, Maxim Group reiterated a buy rating and issued a $16.00 price objective on shares of Onconova Therapeutics in a research report on Tuesday, May 14th.
Shares of Onconova Therapeutics stock traded up $0.19 during trading on Tuesday, hitting $2.52. 1,158 shares of the company were exchanged, compared to its average volume of 40,403. The company has a market capitalization of $13.98 million, a price-to-earnings ratio of -0.50 and a beta of 2.69. Onconova Therapeutics has a 1-year low of $1.69 and a 1-year high of $11.17. The stock has a fifty day moving average price of $3.12.
In related news, major shareholder Tyndall Capital Partners L. P sold 10,927 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $2.83, for a total value of $30,923.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 13,765 shares of company stock valued at $40,646 over the last quarter. 9.50% of the stock is owned by insiders.
A hedge fund recently bought a new stake in Onconova Therapeutics stock. Dimensional Fund Advisors LP purchased a new position in shares of Onconova Therapeutics Inc (NASDAQ:ONTX) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 13,086 shares of the biopharmaceutical company’s stock, valued at approximately $28,000. Dimensional Fund Advisors LP owned about 0.23% of Onconova Therapeutics as of its most recent SEC filing. 38.62% of the stock is owned by hedge funds and other institutional investors.
About Onconova Therapeutics
Onconova Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing small molecule product candidates to treat cancer. Its product candidates include Rigosertib IV, which is in Phase III clinical trial for patients with higher risk myelodysplastic syndromes (MDS); Rigosertib oral in combination with azacitidine that is in Phase II clinical trial for patients with higher-risk MDS; and Rigosertib oral, which is in Phase II clinical trial for patients with lower risk MDS.
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