Onconova Therapeutics (NASDAQ:ONTX) Earns Sell Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Onconova Therapeutics (NASDAQ:ONTX) in a research note issued to investors on Tuesday. The brokerage issued a sell rating on the biopharmaceutical company’s stock.

Onconova Therapeutics Stock Performance

The stock has a fifty day moving average price of $0.82 and a 200 day moving average price of $0.74. The stock has a market capitalization of $20.90 million, a P/E ratio of -1.09 and a beta of 1.38. Onconova Therapeutics has a 1 year low of $0.55 and a 1 year high of $1.45.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Beacon Pointe Advisors LLC grew its position in Onconova Therapeutics by 116.4% during the second quarter. Beacon Pointe Advisors LLC now owns 28,417 shares of the biopharmaceutical company’s stock valued at $34,000 after purchasing an additional 15,286 shares in the last quarter. Renaissance Technologies LLC grew its position in Onconova Therapeutics by 62.1% during the second quarter. Renaissance Technologies LLC now owns 234,674 shares of the biopharmaceutical company’s stock valued at $277,000 after purchasing an additional 89,880 shares in the last quarter. Vanguard Group Inc. grew its position in Onconova Therapeutics by 21.7% during the third quarter. Vanguard Group Inc. now owns 622,958 shares of the biopharmaceutical company’s stock valued at $549,000 after purchasing an additional 110,965 shares in the last quarter. Finally, Millennium Management LLC grew its position in Onconova Therapeutics by 154.6% during the second quarter. Millennium Management LLC now owns 61,390 shares of the biopharmaceutical company’s stock valued at $81,000 after purchasing an additional 37,275 shares in the last quarter. 7.95% of the stock is owned by hedge funds and other institutional investors.

Onconova Therapeutics Company Profile

Onconova Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing novel products to treat cancer in the United States. It has two clinical-stage programs, including narazaciclib, 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 study for the treatment of progressive K-Ras mutated non-small cell lung cancer.