Onconova Therapeutics (NASDAQ:ONTX) Coverage Initiated at StockNews.com

Equities researchers at StockNews.com began coverage on shares of Onconova Therapeutics (NASDAQ:ONTX) in a research report issued on Tuesday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

Onconova Therapeutics Stock Performance

Onconova Therapeutics has a fifty-two week low of $0.55 and a fifty-two week high of $1.45. The stock has a market capitalization of $20.90 million, a P/E ratio of -1.09 and a beta of 1.38. The stock has a 50-day moving average price of $0.82 and a 200-day moving average price of $0.74.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Beacon Pointe Advisors LLC increased its position in shares of Onconova Therapeutics by 116.4% in the second quarter. Beacon Pointe Advisors LLC now owns 28,417 shares of the biopharmaceutical company’s stock worth $34,000 after purchasing an additional 15,286 shares during the last quarter. Millennium Management LLC increased 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 worth $81,000 after purchasing an additional 37,275 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Onconova Therapeutics by 62.1% in the second quarter. Renaissance Technologies LLC now owns 234,674 shares of the biopharmaceutical company’s stock worth $277,000 after purchasing an additional 89,880 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Onconova Therapeutics by 21.7% in the third quarter. Vanguard Group Inc. now owns 622,958 shares of the biopharmaceutical company’s stock worth $549,000 after purchasing an additional 110,965 shares during the last quarter. 7.95% of the stock is currently owned by institutional investors.

Onconova Therapeutics Company Profile

Onconova Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing novel products to treat cancer in the United States. It has two clinical-stage programs, including narazaciclib, 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 study for the treatment of progressive K-Ras mutated non-small cell lung cancer.