Northland Capmk Downgrades Oncternal Therapeutics (NASDAQ:ONCT) to Hold

Oncternal Therapeutics (NASDAQ:ONCT) was downgraded by research analysts at Northland Capmk from a “strong-buy” rating to a “hold” rating in a note issued to investors on Thursday, Zacks.com reports.

Other equities analysts have also recently issued reports about the stock. HC Wainwright reduced their price objective on shares of Oncternal Therapeutics from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Northland Securities restated a “market perform” rating and set a $2.00 price target on shares of Oncternal Therapeutics in a research report on Thursday. StockNews.com started coverage on shares of Oncternal Therapeutics in a research note on Sunday, September 8th. They issued a “hold” rating on the stock. Finally, Brookline Capital Management reiterated a “hold” rating on shares of Oncternal Therapeutics in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Oncternal Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $20.00.

Oncternal Therapeutics Price Performance

ONCT opened at $1.46 on Thursday. The firm has a fifty day moving average price of $5.37 and a 200 day moving average price of $7.48. Oncternal Therapeutics has a 1 year low of $1.32 and a 1 year high of $13.14. The stock has a market cap of $4.32 million, a P/E ratio of -0.12 and a beta of 1.39.

Oncternal Therapeutics (NASDAQ:ONCT) last released its quarterly earnings data on Thursday, August 8th. The company reported ($2.89) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.03) by $0.14. Oncternal Therapeutics had a negative net margin of 1,948.70% and a negative return on equity of 136.10%. The company had revenue of $0.80 million during the quarter, compared to analysts’ expectations of $0.24 million. During the same quarter in the previous year, the company earned ($3.00) earnings per share. Equities analysts expect that Oncternal Therapeutics will post -11.4 EPS for the current year.

Institutional Investors Weigh In On Oncternal Therapeutics

An institutional investor recently bought a new position in Oncternal Therapeutics stock. Pasadena Private Wealth LLC purchased a new position in shares of Oncternal Therapeutics, Inc. (NASDAQ:ONCT) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 25,000 shares of the company’s stock, valued at approximately $190,000. Pasadena Private Wealth LLC owned about 0.84% of Oncternal Therapeutics at the end of the most recent quarter. 16.05% of the stock is currently owned by institutional investors and hedge funds.

About Oncternal Therapeutics

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.