Onconova Therapeutics, Inc. (NASDAQ:ONTX) Stock Closed Well Above Its 50 Day Average

0
24

It is trading at $2.35 which is significantly higher than $1.94, the stock’s 50 day moving average and which is quite a bit higher than the 200 day moving average of $2.02. The 50 day moving average went up by +21.42% whereas the 200 day moving average was up $0.33 or +16.38%. Onconova Therapeutics, Inc. shares had a trading volume of 12K on Tuesday. Shares saw a steep decrease in trading volume of 79.73% under the normal average daily volume.

Investors are feeling more bullish on shares of the company of late if you pay attention to the downtick in short interest. The company experienced a fall in short interest between September 15, 2017 and September 29, 2017 of -3.39%. Short shares decreased from 431,014 to 416,391 over that timeframe. The days to cover decreased to 7.0 and the short interest percentage is 0.05% as of September 29.

These funds have shifted positions in (ONTX). As of quarter end Citadel Advisors LLC had disposed of a total of 15,040 shares trimming its stake by 31.0%. The value of the investment in (ONTX) decreased from $46,000 to $19,000 a change of 58.7% for the reporting period.

On October 9, 2017 H.C. Wainwright began coverage of the stock with an initial rating of “Buy”.

In the latest earnings report the EPS was $-2.57 and is expected to be $-2.86 for the current year with 9,851,000 shares outstanding. Analysts expect next quarter’s EPS will be $-0.76 and the next full year EPS is projected to be $-2.10.

Onconova Therapeutics, Inc., launched on December 22, 1998, is a clinical-stage biopharmaceutical company. The Company operates through the identification and development of oncology therapeutics segment. It is focused on discovering and developing small molecule drug candidates to treat cancer. The Company has created a targeted anti-cancer agents designed to work against specific cellular pathways that are important to cancer cells. It has over three clinical-stage product candidates and various preclinical programs that target kinases, cellular metabolism or cell division in preclinical development. The Business’s lead product candidate, rigosertib, is being tested in both intravenous (IV) and oral formulations as a single agent, and the oral formulation is also being tested in combination with azacitidine, in clinical trials for patients with myelodysplastic syndromes (MDS), and related cancers..

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.