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

StockNews.com assumed coverage on shares of Oncternal Therapeutics (NASDAQ:ONCT) in a research note published on Saturday. The brokerage issued a hold rating on the stock.

A number of other equities analysts have also commented on ONCT. Northland Capmk lowered Oncternal Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 12th. Northland Securities reissued a “market perform” rating and issued a $2.00 price target on shares of Oncternal Therapeutics in a research note on Thursday, September 12th. HC Wainwright dropped their price target on Oncternal Therapeutics from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Finally, Brookline Capital Management reissued a “hold” rating on shares of Oncternal Therapeutics in a research note on Thursday, September 12th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Oncternal Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $20.00.

Oncternal Therapeutics Price Performance

Oncternal Therapeutics stock opened at $1.53 on Friday. The stock’s 50 day moving average is $2.34 and its 200 day moving average is $5.78. The firm has a market cap of $4.53 million, a P/E ratio of -0.13 and a beta of 1.36. Oncternal Therapeutics has a one year low of $1.05 and a one year high of $13.14.

Oncternal Therapeutics (NASDAQ:ONCT) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($2.89) EPS for the quarter, topping analysts’ consensus estimates of ($3.03) by $0.14. The company had revenue of $0.80 million for the quarter, compared to analyst estimates of $0.24 million. Oncternal Therapeutics had a negative return on equity of 136.10% and a negative net margin of 1,948.70%. During the same period in the previous year, the firm earned ($3.00) earnings per share. Equities analysts anticipate that Oncternal Therapeutics will post -12.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Oncternal Therapeutics

An institutional investor recently bought a new position in Oncternal Therapeutics stock. Pasadena Private Wealth LLC purchased a new position in shares of Oncternal Therapeutics, Inc. (NASDAQ:ONCT) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 25,000 shares of the company’s stock, valued at approximately $190,000. Pasadena Private Wealth LLC owned approximately 0.84% of Oncternal Therapeutics at the end of the most recent quarter. 16.05% of the stock is currently owned by hedge funds and other institutional investors.

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.