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

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

Other research analysts also recently issued research reports about the stock. HC Wainwright lowered their price target on shares of Oncternal Therapeutics from $19.00 to $18.00 and set a buy rating for the company in a report on Monday, August 12th. Northland Securities reissued a market perform rating and set a $2.00 target price on shares of Oncternal Therapeutics in a research report on Thursday, September 12th. Brookline Capital Management restated a hold rating on shares of Oncternal Therapeutics in a research report on Thursday, September 12th. Finally, Northland Capmk cut shares of Oncternal Therapeutics from a strong-buy rating to a hold rating in a research report on Thursday, September 12th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $20.00.

Oncternal Therapeutics Price Performance

NASDAQ ONCT opened at $1.46 on Monday. The stock has a market capitalization of $4.31 million, a PE ratio of -0.12 and a beta of 1.39. Oncternal Therapeutics has a 1-year low of $1.32 and a 1-year high of $13.14. The business has a 50 day simple moving average of $5.24 and a two-hundred day simple moving average of $7.39.

Oncternal Therapeutics (NASDAQ:ONCT) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($2.89) earnings per share for the quarter, topping the consensus estimate of ($3.03) by $0.14. Oncternal Therapeutics had a negative net margin of 1,948.70% and a negative return on equity of 136.10%. The company had revenue of $0.80 million for the quarter, compared to analysts’ expectations of $0.24 million. During the same quarter in the previous year, the business posted ($3.00) earnings per share. On average, analysts anticipate that Oncternal Therapeutics will post -11.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Oncternal Therapeutics

A hedge fund recently bought a new stake in Oncternal Therapeutics stock. Quantum Private Wealth LLC bought a new position in shares of Oncternal Therapeutics, Inc. (NASDAQ:ONCT) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent quarter. Institutional investors and hedge funds own 16.05% of the company’s stock.

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.