683 Capital Management, Llc Buys 200,000 Shares of Onconova Therapeutics Inc (ONTX) Stock

Onconova Therapeutics Inc (NASDAQ:ONTX) major shareholder 683 Capital Management, Llc purchased 200,000 shares of the stock in a transaction dated Thursday, February 8th. The stock was purchased at an average cost of $1.04 per share, for a total transaction of $208,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Onconova Therapeutics Inc (NASDAQ ONTX) traded down $0.02 during midday trading on Monday, reaching $1.00. The company’s stock had a trading volume of 405,131 shares, compared to its average volume of 465,556. The firm has a market capitalization of $10.99, a price-to-earnings ratio of -0.37 and a beta of 0.08. Onconova Therapeutics Inc has a one year low of $0.95 and a one year high of $3.88.

Onconova Therapeutics (NASDAQ:ONTX) last released its quarterly earnings data on Thursday, November 9th. The biopharmaceutical company reported ($0.71) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.73) by $0.02. The company had revenue of $0.11 million for the quarter, compared to analyst estimates of $0.29 million. Onconova Therapeutics had a negative return on equity of 558.97% and a negative net margin of 2,855.94%. research analysts forecast that Onconova Therapeutics Inc will post -2.82 EPS for the current year.

A number of analysts have recently issued reports on ONTX shares. Maxim Group reaffirmed a “buy” rating and issued a $6.00 price target on shares of Onconova Therapeutics in a research note on Thursday, November 2nd. HC Wainwright reissued a “buy” rating on shares of Onconova Therapeutics in a research note on Thursday, November 9th. Finally, Zacks Investment Research lowered Onconova Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. Onconova Therapeutics currently has an average rating of “Hold” and an average price target of $7.33.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sabby Management LLC boosted its stake in Onconova Therapeutics by 104.0% during the second quarter. Sabby Management LLC now owns 784,000 shares of the biopharmaceutical company’s stock worth $1,693,000 after buying an additional 399,640 shares during the last quarter. 683 Capital Management LLC boosted its stake in Onconova Therapeutics by 21.0% during the third quarter. 683 Capital Management LLC now owns 375,000 shares of the biopharmaceutical company’s stock worth $641,000 after buying an additional 65,140 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Onconova Therapeutics by 58.4% during the second quarter. Vanguard Group Inc. now owns 87,940 shares of the biopharmaceutical company’s stock worth $190,000 after buying an additional 32,418 shares during the last quarter. 25.45% of the stock is currently owned by institutional investors.

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About Onconova Therapeutics

Onconova Therapeutics, Inc 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.

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