Handle With Care: Onconova Therapeutics Inc. (NASDAQ: ONTX)


The Vanguard Group, Inc. recently announced the acquisition of new stake in Onconova Therapeutics Inc. (NASDAQ:ONTX). The institutional investor has increased its shareholding in the Healthcare company by 162.46% to 6.04 million shares with purchase of 3.74 million shares. This fresh investment now brings its stake to 3.47% valued currently at $6.95 million. In addition, Renaissance Technologies LLC raised its holdings by 1.19 million to 1.19 million shares. And BlackRock Fund Advisors has lifted its position by 1.89% or 16203.0 shares – to 0.87 million shares.

With over 15.79 million Onconova Therapeutics Inc. (ONTX) shares trading Friday and a closing price of $0.27 on the day, the dollar volume was approximately $4.26 million. The shares have shown a negative weekly performance of -72.89% and its price on 08/28/20 lost nearly -2.46%. Currently, there are 183.58M common shares owned by the public and among those 177.96M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for ONTX have a consensus price objective of $1.83. The analysts have set the share’s price value over the next 12 months at a high of $3.00 and a low of $0.30 should the stock experience a downside. Incidentally, analysts’ outlook for the Onconova Therapeutics Inc. stock is 3.00 for the next 12 months. But an upside of 91.0% will see the stock hit the forecast high price target while mean target price for the stock is $2.00.

Insiders at the company have transacted a total of 25 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 10 of these insider trades were purchases, accounting for 1,041,560 shares. Insider sales of the common stock occurred on 15 occasions, with total insider shares sold totaling 703,244 shares.

The top 3 mutual fund holders in Onconova Therapeutics Inc. are Vanguard Total Stock Market Index, Vanguard Extended Market Index Fu, and Fidelity Extended Market Index Fu. Vanguard Total Stock Market Index owns 5.09 million shares of the company’s stock, all valued at over $5.85 million. Vanguard Extended Market Index Fu bought 0.14 million shares to see its total holdings expand to 1.09 million shares valued at over $1.25 million and representing 0.62% of the shares outstanding. Fidelity Extended Market Index Fu now owns shares totaling to 0.22% of the shares outstanding.

Shares of Onconova Therapeutics Inc. (NASDAQ: ONTX) opened at $0.2789, down -$0.0 from a prior closing price of $0.28. However, the script later closed the day at $0.27, down -2.46%. The company’s stock has a 5-day price change of -72.89% and -37.37% over the past three months. ONTX shares are trading -28.51% year to date (YTD), with the 12-month market performance down to -87.67% lower. It has a 12-month low price of $0.10 and touched a high of $2.84 over the same period. Currently, 15.79 million shares have been traded, compared to an average intraday trading volume of 19.05 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -69.99%, -66.96%, and -44.16% respectively.

Institutional ownership of Onconova Therapeutics Inc. (NASDAQ: ONTX) shares accounts for 9.70% of the company’s 183.58M shares outstanding. Mutual fund holders own 2.46%, while other institutional holders and individual stakeholders account for 3.87% and 2.18% respectively.

It has a market capitalization of $51.46M and a beta (3y monthly) value of 2.13. The earnings-per-share (ttm) stands at -$0.97. Price movements for the stock have been influenced by the stock’s volatility, which stands at 18.08% over the week and 11.64% over the month.

Analysts forecast that Onconova Therapeutics Inc. (ONTX) will achieve an EPS of -$0.03 for the current quarter, -$0.03 for the next quarter and -$0.14 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.04 while analysts give the company a high EPS estimate of -$0.02. Comparatively, EPS for the current quarter was -$0.75 a year ago. Earnings per share for the fiscal year are expected to increase by 70.00%, and -7.70% over the next financial year.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate Onconova Therapeutics Inc. (ONTX) as a “Hold” at a consensus score of 3.00. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 4 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”

Looking at the support for the ONTX, a number of firms have released research notes about the stock. H.C. Wainwright stated their Buy rating for the stock in a research note on March 01, 2018, with the firm’s price target at $6-$7.50. Maxim Group coverage for the Onconova Therapeutics Inc. (ONTX) stock in a research note released on January 17, 2018 offered a Hold rating with a price target of. H.C. Wainwright was of a view on October 09, 2017 that the stock is Buy, while Laidlaw gave the stock Buy rating on April 27, 2017, issuing a price target of $10. Piper Jaffray on their part issued Overweight rating on July 01, 2015.


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