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

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

Several other analysts also recently commented on ONCT. Northland Capmk downgraded shares of Oncternal Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 12th. Brookline Capital Management reaffirmed a “hold” rating on shares of Oncternal Therapeutics in a research report on Thursday, September 12th. Northland Securities reiterated a “market perform” rating and set a $2.00 target price on shares of Oncternal Therapeutics in a report on Thursday, September 12th. Finally, 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. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Oncternal Therapeutics has a consensus rating of “Hold” and a consensus target price of $20.00.

Oncternal Therapeutics Stock Down 3.4 %

ONCT opened at $1.44 on Friday. The stock has a market cap of $4.26 million, a P/E ratio of -0.12 and a beta of 1.36. Oncternal Therapeutics has a 12 month low of $1.05 and a 12 month high of $13.14. The company has a fifty day simple moving average of $2.40 and a 200 day simple moving average of $5.83.

Oncternal Therapeutics (NASDAQ:ONCT) last posted its earnings results on Thursday, August 8th. The company reported ($2.89) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.03) by $0.14. The firm had revenue of $0.80 million during the quarter, compared to analysts’ expectations 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. On average, equities research analysts expect that Oncternal Therapeutics will post -12.43 earnings per share for the current fiscal year.

Institutional Trading of 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) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund 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 reporting period. 16.05% of the stock is currently 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.