Short Interest in Oncternal Therapeutics, Inc. (NASDAQ:ONCT) Decreases By 46.6%

Oncternal Therapeutics, Inc. (NASDAQ:ONCT – Get Rating) saw a large drop in short interest during the month of May. As of May 15th, there was short interest totalling 257,000 shares, a drop of 46.6% from the April 30th total of 480,900 shares. Based on an average daily volume of 545,200 shares, the days-to-cover ratio is currently 0.5 days.

Insider Buying and Selling at Oncternal Therapeutics

In related news, CEO James B. Breitmeyer bought 100,000 shares of the stock in a transaction on Thursday, April 13th. The shares were bought at an average cost of $0.29 per share, for a total transaction of $29,000.00. Following the purchase, the chief executive officer now owns 146,544 shares of the company’s stock, valued at approximately $42,497.76. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders have purchased 160,000 shares of company stock worth $46,650. 8.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Oncternal Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Oncternal Therapeutics by 34.1% in the 3rd quarter. Vanguard Group Inc. now owns 2,863,217 shares of the company’s stock worth $2,553,000 after purchasing an additional 728,200 shares during the period. Millennium Management LLC raised its holdings in shares of Oncternal Therapeutics by 187.9% in the 2nd quarter. Millennium Management LLC now owns 1,296,115 shares of the company’s stock worth $1,439,000 after purchasing an additional 845,991 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Oncternal Therapeutics by 52.2% in the 3rd quarter. Renaissance Technologies LLC now owns 979,800 shares of the company’s stock worth $874,000 after purchasing an additional 336,066 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Oncternal Therapeutics in the 1st quarter worth about $585,000. Finally, Two Sigma Investments LP raised its holdings in shares of Oncternal Therapeutics by 136.0% in the 3rd quarter. Two Sigma Investments LP now owns 356,244 shares of the company’s stock worth $318,000 after purchasing an additional 205,312 shares during the period. 16.66% of the stock is currently owned by institutional investors and hedge funds.

Oncternal Therapeutics Trading Down 7.1 %

Oncternal Therapeutics stock opened at $0.30 on Friday. The stock has a fifty day moving average price of $0.42 and a 200 day moving average price of $0.80. Oncternal Therapeutics has a 52 week low of $0.26 and a 52 week high of $1.87.

Oncternal Therapeutics (NASDAQ:ONCT – Get Rating) last released its earnings results on Thursday, March 9th. The company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.02. The firm had revenue of $0.17 million during the quarter, compared to analyst estimates of $0.37 million. Oncternal Therapeutics had a negative return on equity of 71.49% and a negative net margin of 4,831.36%. On average, analysts anticipate that Oncternal Therapeutics will post -0.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on ONCT shares. Maxim Group downgraded Oncternal Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, April 4th. StockNews.com began coverage on Oncternal Therapeutics in a research report on Tuesday. They set a “sell” rating on the stock. Cantor Fitzgerald cut Oncternal Therapeutics from an “overweight” rating to a “neutral” rating in a report on Thursday, April 6th. HC Wainwright cut Oncternal Therapeutics from a “buy” rating to a “neutral” rating in a report on Tuesday, April 4th. Finally, Oppenheimer cut Oncternal Therapeutics from an “outperform” rating to a “market perform” rating in a report on Tuesday, April 4th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $5.77.

Oncternal Therapeutics Company Profile

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Oncternal Therapeutics, Inc engages in the development of novel oncology therapies for the treatment of cancers with critical unmet medical need. Its product pipeline include Zilovertamab, ONCT-216, ONCT-808 and ONCT-534. The company was founded by David F. Hale and James B. Breitmeyer in September 1997 and is headquartered in San Diego, CA.