Onconova Therapeutics Inc (NASDAQ:ONTX) Short Interest Update

Onconova Therapeutics Inc (NASDAQ:ONTX) was the recipient of a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 15,040,000 shares, a growth of 42.4% from the August 31st total of 10,560,000 shares. Based on an average daily volume of 22,170,000 shares, the days-to-cover ratio is currently 0.7 days.

Shares of NASDAQ:ONTX traded down $0.01 during trading on Thursday, reaching $0.27. The company had a trading volume of 5,028,740 shares, compared to its average volume of 16,593,701. The firm has a market capitalization of $48.42 million, a price-to-earnings ratio of -0.19 and a beta of 2.07. The stock’s fifty day moving average price is $0.46 and its 200 day moving average price is $0.51. Onconova Therapeutics has a fifty-two week low of $0.10 and a fifty-two week high of $1.56.

Onconova Therapeutics (NASDAQ:ONTX) last released its earnings results on Wednesday, August 12th. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.01). The company had revenue of $0.06 million during the quarter, compared to analyst estimates of $0.40 million. Onconova Therapeutics had a negative net margin of 11,357.71% and a negative return on equity of 214.79%. On average, equities research analysts expect that Onconova Therapeutics will post -0.12 EPS for the current fiscal year.

In other Onconova Therapeutics news, Director E Premkumar Reddy sold 527,863 shares of Onconova Therapeutics stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $0.27, for a total value of $142,523.01. Following the completion of the transaction, the director now directly owns 16,683 shares of the company’s stock, valued at approximately $4,504.41. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.80% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC acquired a new position in Onconova Therapeutics during the second quarter worth $28,000. FNY Investment Advisers LLC acquired a new stake in Onconova Therapeutics in the second quarter valued at $56,000. Finally, Captrust Financial Advisors acquired a new stake in Onconova Therapeutics in the second quarter valued at $59,000. 5.87% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have weighed in on the company. Zacks Investment Research downgraded Onconova Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, September 25th. Maxim Group downgraded Onconova Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, August 24th. HC Wainwright cut Onconova Therapeutics from a “buy” rating to a “neutral” rating in a research note on Monday, August 24th. Laidlaw cut Onconova Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, August 24th. Finally, Noble Financial cut Onconova Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, August 25th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $1.20.

About Onconova Therapeutics

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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