Oncternal Therapeutics, Inc. (NASDAQ:ONCT) Sees Large Increase in Short Interest

Oncternal Therapeutics, Inc. (NASDAQ:ONCT) saw a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 45,400 shares, a growth of 168.6% from the October 15th total of 16,900 shares. Based on an average trading volume of 90,000 shares, the days-to-cover ratio is presently 0.5 days. Currently, 1.7% of the shares of the stock are sold short.

Oncternal Therapeutics Trading Down 6.2 %

Shares of Oncternal Therapeutics stock opened at $1.21 on Wednesday. The business’s 50-day moving average price is $1.81 and its 200-day moving average price is $5.32. Oncternal Therapeutics has a 12 month low of $1.05 and a 12 month high of $13.14.

Wall Street Analyst Weigh In

Several brokerages recently commented on ONCT. StockNews.com started coverage on shares of Oncternal Therapeutics in a research note on Monday. They set a “hold” rating for the company. Northland Securities reissued a “market perform” rating and set a $2.00 price objective on shares of Oncternal Therapeutics in a report on Thursday, September 12th. Brookline Capital Management reaffirmed a “hold” rating on shares of Oncternal Therapeutics in a research note on Thursday, September 12th. Northland Capmk cut shares of Oncternal Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 12th. Finally, HC Wainwright lowered their price objective on shares of Oncternal Therapeutics from $19.00 to $18.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $20.00.

Institutional Inflows and Outflows

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

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.