Oncternal Therapeutics (NASDAQ:ONCT) Announces Quarterly Earnings Results

Oncternal Therapeutics (NASDAQ:ONCT) posted its earnings results on Thursday. The company reported ($3.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($3.09) by ($0.02), Zacks reports. The company had revenue of $0.30 million for the quarter, compared to the consensus estimate of $0.17 million. Oncternal Therapeutics had a negative net margin of 6,330.05% and a negative return on equity of 85.29%. During the same quarter in the prior year, the company posted ($4.00) EPS.

Oncternal Therapeutics Stock Performance

Shares of NASDAQ ONCT traded up $0.16 during midday trading on Friday, hitting $9.41. 2,212 shares of the company’s stock traded hands, compared to its average volume of 15,390. Oncternal Therapeutics has a 1 year low of $5.22 and a 1 year high of $18.20. The stock has a market capitalization of $27.76 million, a price-to-earnings ratio of -0.65 and a beta of 1.27. The firm has a fifty day moving average of $8.93 and a 200 day moving average of $7.62.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Brookline Capital Management upgraded shares of Oncternal Therapeutics from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research note on Monday, December 4th. HC Wainwright upped their target price on shares of Oncternal Therapeutics to $30.00 and gave the company a “buy” rating in a research note on Monday, January 29th. Finally, StockNews.com assumed coverage on shares of Oncternal Therapeutics in a research note on Friday, January 26th. They set a “sell” rating on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Oncternal Therapeutics presently has a consensus rating of “Hold” and an average target price of $69.00.

Institutional Investors Weigh In On Oncternal Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in ONCT. Millennium Management LLC increased its position in shares of Oncternal Therapeutics by 187.9% during the 2nd quarter. Millennium Management LLC now owns 1,296,115 shares of the company’s stock valued at $1,439,000 after purchasing an additional 845,991 shares during the last quarter. Vanguard Group Inc. increased its holdings in Oncternal Therapeutics by 34.1% in the 3rd quarter. Vanguard Group Inc. now owns 2,863,217 shares of the company’s stock worth $2,553,000 after acquiring an additional 728,200 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Oncternal Therapeutics in the 1st quarter worth approximately $585,000. Renaissance Technologies LLC increased its holdings in Oncternal Therapeutics by 52.2% in the 3rd quarter. Renaissance Technologies LLC now owns 979,800 shares of the company’s stock worth $874,000 after acquiring an additional 336,066 shares in the last quarter. Finally, Two Sigma Investments LP increased its holdings in Oncternal Therapeutics by 136.0% in the 3rd quarter. Two Sigma Investments LP now owns 356,244 shares of the company’s stock worth $318,000 after acquiring an additional 205,312 shares in the last quarter. Hedge funds and other institutional investors own 16.05% of the company’s stock.

Oncternal Therapeutics Company Profile

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.