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

Equities researchers at StockNews.com assumed coverage on shares of Oncternal Therapeutics (NASDAQ:ONCT) in a report issued on Sunday. The brokerage set a “hold” rating on the stock.

Separately, HC Wainwright reissued a “buy” rating and set a $19.00 target price on shares of Oncternal Therapeutics in a report on Friday, May 31st.

Oncternal Therapeutics Price Performance

Shares of Oncternal Therapeutics stock opened at $7.67 on Friday. The business has a fifty day simple moving average of $8.28 and a two-hundred day simple moving average of $8.61. Oncternal Therapeutics has a 1 year low of $5.57 and a 1 year high of $13.14. The company has a market capitalization of $22.70 million, a price-to-earnings ratio of -0.62 and a beta of 1.36.

Oncternal Therapeutics (NASDAQ:ONCT) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($2.83) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.88) by $0.05. Oncternal Therapeutics had a negative return on equity of 107.67% and a negative net margin of 3,160.73%. The business had revenue of $0.57 million during the quarter, compared to the consensus estimate of $0.18 million. During the same quarter last year, the firm posted ($4.00) EPS. As a group, equities analysts anticipate that Oncternal Therapeutics will post -11.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Oncternal Therapeutics stock. Quantum Private Wealth LLC purchased a new position in Oncternal Therapeutics, Inc. (NASDAQ:ONCT) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 27,806 shares of the company’s stock, valued at approximately $250,000. Quantum Private Wealth LLC owned 0.94% of Oncternal Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC). 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.