Onconova Therapeutics (NASDAQ:ONTX) Shares Cross Below 200 Day Moving Average of $1.52

Onconova Therapeutics, Inc. (NASDAQ:ONTX – Get Rating) crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.52 and traded as low as $1.17. Onconova Therapeutics shares last traded at $1.20, with a volume of 63,697 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. StockNews.com began coverage on Onconova Therapeutics in a report on Friday. They set a “hold” rating for the company. Noble Financial reiterated a “buy” rating and set a $11.00 price objective on shares of Onconova Therapeutics in a research note on Thursday, May 12th.

Onconova Therapeutics Price Performance

The business has a fifty day simple moving average of $1.26 and a two-hundred day simple moving average of $1.52. The company has a market cap of $25.08 million, a PE ratio of -1.41 and a beta of 1.61.

Onconova Therapeutics (NASDAQ:ONTX – Get Rating) last posted its earnings results on Wednesday, May 11th. The biopharmaceutical company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.02). The firm had revenue of $0.06 million for the quarter, compared to analysts’ expectations of $0.06 million. Onconova Therapeutics had a negative return on equity of 36.41% and a negative net margin of 6,889.38%. During the same period in the previous year, the company earned ($0.30) earnings per share. On average, equities research analysts predict that Onconova Therapeutics, Inc. will post -0.79 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Onconova Therapeutics stock. Beacon Pointe Advisors LLC raised its stake in shares of Onconova Therapeutics, Inc. (NASDAQ:ONTX – Get Rating) by 147.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 46,027 shares of the biopharmaceutical company’s stock after purchasing an additional 27,396 shares during the period. Beacon Pointe Advisors LLC owned 0.22% of Onconova Therapeutics worth $85,000 at the end of the most recent reporting period. 11.53% of the stock is owned by institutional investors.

Onconova Therapeutics Company Profile

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Onconova Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing novel products to treat cancer. It has two clinical-stage programs, including narazaciclib (ON 123300), a multi-targeted kinase inhibitor that is in Phase I study for solid tumors, as well as hematological malignancies as a single agent or in combination with other anti-cancer therapies; and oral rigosertib alone or in combination with PD-1 inhibitor, which is in Phase I/IIa for the treatment of progressive K-Ras mutated non-small cell lung cancer.