Onconova Therapeutics Inc. [NASDAQ: ONTX] stock went on a downward path that fall over -4.59% on Monday, amounting to a one-week price increase of more than 34.48%. The company report on February 17, 2021 that Onconova Therapeutics, Inc. Announces Closing of $28.75 Million Public Offering of Common Stock Including Full Exercise of the Over-Allotment Option.
Onconova Therapeutics, Inc. (NASDAQ: ONTX) (“Onconova”), a biopharmaceutical company focused on discovering and developing novel products to treat cancer, announced the closing of its previously-announced underwritten public offering. A total of 28,750,000 shares of its common stock were sold, including 3,750,000 shares of common stock following the exercise by the underwriters of their over-allotment option, at a public offering price of $1.00 per share. The gross proceeds of the offering to the Company are $28.75 million, before deducting the underwriting discounts and commissions and other estimated offering expenses.
Guggenheim Securities is acting as sole book-running manager. Maxim Group LLC and Noble Capital Markets, Inc. are acting as co-managers for the offering.
Over the last 12 months, ONTX stock rose by 194.34%. The average equity rating for ONTX stock is currently 2.70, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $351.89 million, with 180.88 million shares outstanding and 173.37 million shares in the current float. Compared to the average trading volume of 51.78M shares, ONTX stock reached a trading volume of 47226697 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Onconova Therapeutics Inc. [ONTX]:
H.C. Wainwright have made an estimate for Onconova Therapeutics Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 01, 2018. The new note on the price target was released on January 17, 2018, representing the official price target for Onconova Therapeutics Inc. stock. Previously, the target price had yet another raise to $6, while H.C. Wainwright analysts kept a Buy rating on ONTX stock.
The Average True Range (ATR) for Onconova Therapeutics Inc. is set at 0.20, with the Price to Sales ratio for ONTX stock in the period of the last 12 months amounting to 1759.45. The Price to Book ratio for the last quarter was 22.29, with the Price to Cash per share for the same quarter was set at 0.11.
ONTX Stock Performance Analysis:
Onconova Therapeutics Inc. [ONTX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 34.48. With this latest performance, ONTX shares gained by 109.93% in over the last four-week period, additionally plugging by 52.94% over the last 6 months – not to mention a rise of 194.34% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ONTX stock in for the last two-week period is set at 72.88, with the RSI for the last a single of trading hit 72.23, and the three-weeks RSI is set at 72.45 for Onconova Therapeutics Inc. [ONTX]. The present Moving Average for the last 50 days of trading for this stock 0.7411, while it was recorded at 1.5370 for the last single week of trading, and 0.5532 for the last 200 days.
Insight into Onconova Therapeutics Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Onconova Therapeutics Inc. [ONTX] shares currently have an operating margin of -994.00. Onconova Therapeutics Inc.’s Net Margin is presently recorded at -985.02.
Return on Total Capital for ONTX is now -255.87, given the latest momentum, and Return on Invested Capital for the company is -253.56. Return on Equity for this stock declined to -253.56, with Return on Assets sitting at -103.39.
Reflecting on the efficiency of the workforce at the company, Onconova Therapeutics Inc. [ONTX] managed to generate an average of -$1,131,737 per employee. Receivables Turnover for the company is 32.83 with a Total Asset Turnover recorded at a value of 0.10.Onconova Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.70 and a Current Ratio set at 2.70.
ONTX Stock EPS
With the latest financial reports released by the company, Onconova Therapeutics Inc. posted -0.4/share EPS, while the average EPS was predicted by analysts to be reported at -0.25/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -60.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ONTX.
Onconova Therapeutics Inc. [ONTX] Insider Position Details
There are presently around $23 million, or 10.70% of ONTX stock, in the hands of institutional investors. The top three institutional holders of ONTX stocks are: VANGUARD GROUP INC with ownership of 8,260,810, which is approximately 19.154% of the company’s market cap and around 0.40% of the total institutional ownership; GEODE CAPITAL MANAGEMENT, LLC, holding 1,288,206 shares of the stock with an approximate value of $2.01 million in ONTX stocks shares; and PRINCIPAL FINANCIAL GROUP INC, currently with $1.81 million in ONTX stock with ownership of nearly New of the company’s market capitalization.
Positions in Onconova Therapeutics Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 19 institutional holders increased their position in Onconova Therapeutics Inc. [NASDAQ:ONTX] by around 4,174,103 shares. Additionally, 15 investors decreased positions by around 1,463,491 shares, while 8 investors held positions by with 8,943,569 shares. The mentioned changes placed institutional holdings at 14,581,163 shares, according to the latest SEC report filing. ONTX stock had 13 new institutional investments in for a total of 2,127,959 shares, while 7 institutional investors sold positions of 704,329 shares during the same period.