Oncternal Therapeutics (NASDAQ:ONCT) Coverage Initiated at StockNews.com

Research analysts at StockNews.com began coverage on shares of Oncternal Therapeutics (NASDAQ:ONCT) in a research note issued on Tuesday. The firm set a “hold” rating on the stock.

Separately, HC Wainwright reiterated a “buy” rating and issued a $19.00 price objective on shares of Oncternal Therapeutics in a research note on Friday, May 31st.

Oncternal Therapeutics Stock Up 6.1 %

ONCT stock opened at $8.81 on Tuesday. The business has a 50 day moving average price of $8.79 and a 200 day moving average price of $8.71. The stock has a market cap of $26.08 million, a price-to-earnings ratio of -0.71 and a beta of 1.38. Oncternal Therapeutics has a fifty-two week low of $5.57 and a fifty-two week high of $13.14.

Oncternal Therapeutics (NASDAQ:ONCT) last posted its earnings results on Thursday, May 9th. The company reported ($2.83) earnings per share for the quarter, topping the consensus estimate of ($2.88) by $0.05. The firm had revenue of $0.57 million during the quarter, compared to analysts’ expectations of $0.18 million. Oncternal Therapeutics had a negative return on equity of 107.67% and a negative net margin of 3,160.73%. During the same quarter in the previous year, the business earned ($4.00) earnings per share. As a group, sell-side analysts anticipate that Oncternal Therapeutics will post -10.78 EPS for the current year.

Insider Activity

In other Oncternal Therapeutics news, Director Robert James Wills acquired 3,086 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The shares were purchased at an average price of $8.96 per share, with a total value of $27,650.56. Following the completion of the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $89,600. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 11.20% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Oncternal Therapeutics stock. Quantum Private Wealth LLC bought a new stake in Oncternal Therapeutics, Inc. (NASDAQ:ONCT) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 27,806 shares of the company’s stock, valued at approximately $250,000. Quantum Private Wealth LLC owned about 0.94% of Oncternal Therapeutics as of its most recent filing with the Securities & Exchange Commission. 16.05% of the stock is owned by institutional investors and hedge funds.

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.