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

Investment analysts at StockNews.com initiated coverage on shares of Oncternal Therapeutics (NASDAQ:ONCT) in a research note issued on Thursday. The brokerage set a “hold” rating on the stock.

Separately, HC Wainwright reissued a “buy” rating and set a $19.00 target price on shares of Oncternal Therapeutics in a report on Friday, May 31st.

Oncternal Therapeutics Stock Performance

ONCT opened at $8.00 on Thursday. Oncternal Therapeutics has a fifty-two week low of $5.57 and a fifty-two week high of $13.14. The company has a market capitalization of $23.68 million, a P/E ratio of -0.65 and a beta of 1.38. The stock has a fifty day moving average of $8.68 and a 200-day moving average of $8.81.

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 analysts’ consensus estimates of ($2.88) by $0.05. Oncternal Therapeutics had a negative return on equity of 107.67% and a negative net margin of 3,160.73%. The company had revenue of $0.57 million during the quarter, compared to the consensus estimate of $0.18 million. During the same quarter last year, the firm earned ($4.00) earnings per share. On average, equities research analysts predict that Oncternal Therapeutics will post -11.63 earnings per share for the current fiscal year.

Insider Transactions at Oncternal Therapeutics

In other news, Director Robert James Wills purchased 3,086 shares of Oncternal Therapeutics stock in a transaction dated Monday, April 8th. The shares were bought at an average cost of $8.96 per share, for a total transaction of $27,650.56. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at approximately $89,600. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 11.20% of the company’s stock.

Institutional Trading of Oncternal Therapeutics

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