Oncternal Therapeutics, Inc. (NASDAQ:ONCT) to Post Q1 2024 Earnings of ($3.30) Per Share, HC Wainwright Forecasts

Oncternal Therapeutics, Inc. (NASDAQ:ONCT) – Analysts at HC Wainwright upped their Q1 2024 EPS estimates for Oncternal Therapeutics in a research note issued on Monday, April 15th. HC Wainwright analyst R. Selvaraju now anticipates that the company will post earnings per share of ($3.30) for the quarter, up from their prior forecast of ($3.52). HC Wainwright has a “Buy” rating and a $28.00 price objective on the stock. The consensus estimate for Oncternal Therapeutics’ current full-year earnings is ($11.97) per share. HC Wainwright also issued estimates for Oncternal Therapeutics’ Q2 2024 earnings at ($3.42) EPS, Q3 2024 earnings at ($3.63) EPS, Q4 2024 earnings at ($3.68) EPS and FY2024 earnings at ($14.04) EPS.

Oncternal Therapeutics (NASDAQ:ONCT) last released its quarterly earnings results on Thursday, March 7th. The company reported ($3.11) earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $0.17 million. During the same period last year, the firm posted ($4.00) EPS.

Separately, StockNews.com started coverage on shares of Oncternal Therapeutics in a research report on Wednesday. They issued a “hold” rating on the stock.

Oncternal Therapeutics Stock Performance

Oncternal Therapeutics stock opened at $9.15 on Thursday. The firm has a market cap of $24.61 million, a price-to-earnings ratio of -0.68 and a beta of 1.26. Oncternal Therapeutics has a 1 year low of $5.57 and a 1 year high of $13.14. The firm’s 50 day moving average price is $8.89 and its two-hundred day moving average price is $8.13.

Insiders Place Their Bets

In related news, Director Robert James Wills bought 3,086 shares of the firm’s stock in a transaction on Monday, April 8th. The stock was bought at an average price of $8.96 per share, with a total value of $27,650.56. Following the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $89,600. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders have bought 10,714 shares of company stock worth $92,736. Corporate insiders own 8.00% of the company’s stock.

Institutional Investors Weigh In On Oncternal Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. Citadel Advisors LLC acquired a new stake in shares of Oncternal Therapeutics in the 4th quarter valued at $29,000. Pasadena Private Wealth LLC lifted its stake in shares of Oncternal Therapeutics by 79.4% in the 4th quarter. Pasadena Private Wealth LLC now owns 500,000 shares of the company’s stock valued at $268,000 after purchasing an additional 221,250 shares during the last quarter. Richmond Brothers Inc. lifted its stake in shares of Oncternal Therapeutics by 69.8% in the 3rd quarter. Richmond Brothers Inc. now owns 494,042 shares of the company’s stock valued at $148,000 after purchasing an additional 203,010 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Oncternal Therapeutics by 12.5% in the 2nd quarter. Renaissance Technologies LLC now owns 287,000 shares of the company’s stock valued at $99,000 after purchasing an additional 31,900 shares during the last quarter. Finally, Susquehanna International Group LLP acquired a new stake in shares of Oncternal Therapeutics in the 1st quarter valued at $99,000. Institutional investors and hedge funds 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.