FY2022 Earnings Forecast for Onconova Therapeutics, Inc. Issued By HC Wainwright (NASDAQ:ONTX)

Onconova Therapeutics, Inc. (NASDAQ:ONTXGet Rating) – Research analysts at HC Wainwright dropped their FY2022 earnings per share estimates for Onconova Therapeutics in a report issued on Tuesday, November 15th. HC Wainwright analyst J. Pantginis now anticipates that the biopharmaceutical company will post earnings per share of ($0.92) for the year, down from their prior estimate of ($0.82). The consensus estimate for Onconova Therapeutics’ current full-year earnings is ($0.80) per share. HC Wainwright also issued estimates for Onconova Therapeutics’ Q4 2022 earnings at ($0.27) EPS and FY2023 earnings at ($0.85) EPS.

Separately, StockNews.com began coverage on shares of Onconova Therapeutics in a research report on Thursday, November 10th. They set a “hold” rating for the company.

Onconova Therapeutics Stock Performance

Onconova Therapeutics stock opened at $0.90 on Thursday. Onconova Therapeutics has a 52 week low of $0.65 and a 52 week high of $3.34. The stock has a market capitalization of $18.81 million, a P/E ratio of -1.11 and a beta of 1.39. The stock has a 50-day simple moving average of $0.84 and a 200 day simple moving average of $1.11.

Institutional Investors Weigh In On Onconova Therapeutics

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Onconova Therapeutics by 21.7% during the third quarter. Vanguard Group Inc. now owns 622,958 shares of the biopharmaceutical company’s stock worth $549,000 after acquiring an additional 110,965 shares during the last quarter. Renaissance Technologies LLC lifted its position in Onconova Therapeutics by 3.6% during the second quarter. Renaissance Technologies LLC now owns 333,323 shares of the biopharmaceutical company’s stock worth $440,000 after acquiring an additional 11,580 shares during the last quarter. Millennium Management LLC raised its position in shares of Onconova Therapeutics by 154.6% in the second quarter. Millennium Management LLC now owns 61,390 shares of the biopharmaceutical company’s stock valued at $81,000 after buying an additional 37,275 shares in the last quarter. Finally, Beacon Pointe Advisors LLC raised its position in shares of Onconova Therapeutics by 147.0% in the first quarter. Beacon Pointe Advisors LLC now owns 46,027 shares of the biopharmaceutical company’s stock valued at $85,000 after buying an additional 27,396 shares in the last quarter. 8.83% of the stock is currently owned by institutional investors and hedge funds.

About Onconova Therapeutics

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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.

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