Onconova Therapeutics (NASDAQ:ONTX) Share Price Crosses Below 200 Day Moving Average of $0.94

Onconova Therapeutics, Inc. (NASDAQ:ONTX) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.94 and traded as low as $0.63. Onconova Therapeutics shares last traded at $0.63, with a volume of 61,863 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ONTX. HC Wainwright restated a “buy” rating and set a $11.00 price objective on shares of Onconova Therapeutics in a research report on Thursday, October 12th. StockNews.com started coverage on Onconova Therapeutics in a research report on Thursday. They issued a “sell” rating on the stock.

Onconova Therapeutics Stock Up 3.8 %

The stock has a market capitalization of $13.72 million, a P/E ratio of -0.64 and a beta of 1.70. The business has a 50-day simple moving average of $0.69 and a two-hundred day simple moving average of $0.94.

Hedge Funds Weigh In On Onconova Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC lifted its stake in shares of Onconova Therapeutics by 3.6% during the second quarter. Renaissance Technologies LLC now owns 333,323 shares of the biopharmaceutical company’s stock valued at $440,000 after acquiring an additional 11,580 shares during the period. Beacon Pointe Advisors LLC lifted its stake in Onconova Therapeutics by 116.4% in the second quarter. Beacon Pointe Advisors LLC now owns 28,417 shares of the biopharmaceutical company’s stock valued at $34,000 after buying an additional 15,286 shares during the period. Millennium Management LLC lifted its stake in Onconova Therapeutics by 154.6% in the second quarter. Millennium Management LLC now owns 61,390 shares of the biopharmaceutical company’s stock valued at $81,000 after buying an additional 37,275 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Onconova Therapeutics by 21.7% in the third quarter. Vanguard Group Inc. now owns 622,958 shares of the biopharmaceutical company’s stock valued at $549,000 after buying an additional 110,965 shares during the period. Institutional investors and hedge funds own 8.85% of the company’s stock.

Onconova Therapeutics Company Profile

Onconova Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing novel products to treat cancer in the United States. It has two clinical-stage programs, including narazaciclib, a multi-targeted kinase inhibitor that is in Phase I study for solid tumors, as well as hematological malignancies as a single agent or in combination with other anti-cancer therapies; and oral rigosertib alone or in combination with PD-1 inhibitor, which is in Phase I/IIa study for the treatment of progressive K-Ras mutated non-small cell lung cancer.