683 Capital Management LLC boosted its holdings in Onconova Therapeutics Inc. (NASDAQ:ONTX) by 24.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 464,934 shares of the biopharmaceutical company’s stock after acquiring an additional 89,934 shares during the period. 683 Capital Management LLC owned 4.32% of Onconova Therapeutics worth $697,000 as of its most recent filing with the Securities and Exchange Commission.
Separately, Vanguard Group Inc. raised its holdings in Onconova Therapeutics by 58.4% in the second quarter. Vanguard Group Inc. now owns 87,940 shares of the biopharmaceutical company’s stock valued at $190,000 after buying an additional 32,418 shares during the period. 12.44% of the stock is owned by institutional investors.
Several brokerages have issued reports on ONTX. Maxim Group reaffirmed a “hold” rating on shares of Onconova Therapeutics in a research report on Thursday, March 8th. Zacks Investment Research raised shares of Onconova Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, January 10th. HC Wainwright reaffirmed a “buy” rating and issued a $7.50 price objective (up previously from $6.00) on shares of Onconova Therapeutics in a research report on Thursday, March 1st. Finally, ValuEngine raised shares of Onconova Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, March 14th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $8.00.
In other news, major shareholder 683 Capital Management, Llc bought 200,000 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were purchased at an average cost of $1.04 per share, with a total value of $208,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.30% of the stock is owned by insiders.
ONTX remained flat at $$0.80 during trading hours on Thursday. The company had a trading volume of 110,952 shares, compared to its average volume of 479,772. The company has a market capitalization of $15.44, a PE ratio of -0.30 and a beta of 0.34. Onconova Therapeutics Inc. has a 52-week low of $0.78 and a 52-week high of $2.85.
Onconova Therapeutics (NASDAQ:ONTX) last posted its earnings results on Thursday, March 8th. The biopharmaceutical company reported ($0.59) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.10. The company had revenue of $0.14 million during the quarter, compared to the consensus estimate of $0.31 million. equities analysts forecast that Onconova Therapeutics Inc. will post -1.41 EPS for the current fiscal year.
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About Onconova Therapeutics
Onconova Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing small molecule drug candidates to treat cancer. The company's clinical-stage product candidates include Rigosertib IV, which is in Phase III clinical trials for patients with higher risk myelodysplastic syndromes (MDS); Rigosertib oral in combination with azacitidine that is in Phase II clinical trials for patients with MDS and acute myelogenous leukemia; and Rigosertib oral, which is in Phase II clinical trials for patients with lower risk MDS.
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