Onconova Therapeutics major shareholder Acquires $1,215,276 in Stock (ONTX)
Onconova Therapeutics (NASDAQ:ONTX) major shareholder & Jane Hoffman 2013 De Michael acquired 143,480 shares of Onconova Therapeutics stock in a transaction dated Friday, February 21st. The shares were purchased at an average cost of $8.47 per share, for a total transaction of $1,215,275.60. Following the purchase, the insider now directly owns 4,518,275 shares in the company, valued at approximately $38,269,789. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of Onconova Therapeutics (NASDAQ:ONTX) opened at 8.74 on Monday. Onconova Therapeutics has a 52-week low of $7.75 and a 52-week high of $31.13. The stock has a 50-day moving average of $13.01 and a 200-day moving average of $18.45. The company’s market cap is $187.1 million.
A number of research firms have recently commented on ONTX. Analysts at Leerink Swann cut their price target on shares of Onconova Therapeutics from $37.00 to $14.00 in a research note on Thursday. Separately, analysts at Janney Montgomery Scott downgraded shares of Onconova Therapeutics from a “buy” rating to a “neutral” rating in a research note on Thursday. They now have a $10.00 price target on the stock, down previously from $40.00. Finally, analysts at Piper Jaffray downgraded shares of Onconova Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Thursday. They now have a $9.00 price target on the stock, down previously from $38.00.
Onconova Therapeutics, Inc (NASDAQ:ONTX) is a clinical-stage biopharmaceutical company focused on discovering and developing small molecule drug candidates to treat cancer.
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