Onconova Therapeutics Inc (ONTX) Short Interest Down 43.2% in May
Onconova Therapeutics Inc (NASDAQ:ONTX) saw a large decline in short interest during the month of May. As of May 15th, there was short interest totalling 852,160 shares, a decline of 43.2% from the April 30th total of 1,499,501 shares. Based on an average daily volume of 1,305,010 shares, the short-interest ratio is presently 0.7 days. Currently, 1.2% of the shares of the company are sold short.
A number of research analysts recently commented on ONTX shares. HC Wainwright set a $8.00 price target on shares of Onconova Therapeutics and gave the company a “buy” rating in a research note on Monday, March 26th. Zacks Investment Research upgraded shares of Onconova Therapeutics from a “hold” rating to a “buy” rating and set a $0.50 price target on the stock in a research note on Wednesday, April 25th. ValuEngine upgraded shares of Onconova Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, March 14th. Finally, Maxim Group restated a “hold” rating on shares of Onconova Therapeutics in a research report on Friday, March 2nd. Five investment analysts have rated the stock with a buy rating, Onconova Therapeutics presently has a consensus rating of “Buy” and an average price target of $3.17.
Shares of Onconova Therapeutics remained flat at $$0.52 on Thursday, MarketBeat reports. 1,227,829 shares of the company’s stock were exchanged, compared to its average volume of 1,499,707. Onconova Therapeutics has a 1 year low of $0.33 and a 1 year high of $2.83. The firm has a market cap of $42.86 million, a price-to-earnings ratio of -0.19 and a beta of 0.44.
In other news, major shareholder 683 Capital Management, Llc acquired 11,838,235 shares of the stock in a transaction dated Friday, April 27th. The shares were bought at an average cost of $0.43 per share, for a total transaction of $5,090,441.05. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 9.70% of the stock is owned by insiders.
An institutional investor recently raised its position in Onconova Therapeutics stock. 683 Capital Management LLC lifted its position in shares of Onconova Therapeutics Inc (NASDAQ:ONTX) by 24.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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 approximately 4.32% of Onconova Therapeutics worth $697,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 9.14% of the company’s stock.
Onconova Therapeutics Company Profile
Onconova Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing small molecule product candidates to treat cancer. Its product candidates include Rigosertib IV, which is in Phase III clinical trial for patients with higher risk myelodysplastic syndromes (MDS); Rigosertib oral in combination with azacitidine that is in Phase II clinical trial for patients with higher-risk MDS; and Rigosertib oral, which is in Phase II clinical trial for patients with lower risk MDS.
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