Onconova Therapeutics Inc. [NASDAQ: ONTX] plunged by -$1.19 during the normal trading session on Thursday and reaching a high of $5.60 during the day while it closed the day at $5.11. The company report on September 24, 2021 that Onconova Therapeutics, Inc. Announces Proposed Public Offering of Common Stock.
Onconova Therapeutics, Inc. (NASDAQ: ONTX) (“Onconova”), a biopharmaceutical company focused on discovering and developing novel products to treat cancer, announced that it intends to offer and sell shares of its common stock in an underwritten public offering. All of the shares to be sold in the offering will be offered by Onconova. The offering is subject to market conditions and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. In addition, Onconova intends to grant the underwriters a thirty-day option to purchase up to an additional 15 percent of shares of its common stock offered in the public offering.
Guggenheim Securities is acting as sole book-running manager.
Onconova Therapeutics Inc. stock has also gained 4.93% of its value over the past 7 days. However, ONTX stock has declined by -31.22% in the 3 months of the year. Over the past six months meanwhile, it has lost -66.93% and lost -26.86% year-on date.
The market cap for ONTX stock reached $76.91 million, with 15.78 million shares outstanding and 15.70 million shares in the current float. Compared to the average trading volume of 1.55M shares, ONTX reached a trading volume of 5533561 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Onconova Therapeutics Inc. [ONTX]:
Guggenheim have made an estimate for Onconova Therapeutics Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 18, 2021. While these analysts kept the previous recommendation, H.C. Wainwright raised their target price from $6 to $7.50. The new note on the price target was released on March 01, 2018, representing the official price target for Onconova Therapeutics Inc. stock.
The Average True Range (ATR) for Onconova Therapeutics Inc. is set at 0.47, with the Price to Sales ratio for ONTX stock in the period of the last 12 months amounting to 384.53. The Price to Book ratio for the last quarter was 2.44, with the Price to Cash per share for the same quarter was set at 2.90.
ONTX stock trade performance evaluation
Onconova Therapeutics Inc. [ONTX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.93. With this latest performance, ONTX shares gained by 1.79% in over the last four-week period, additionally sinking by -66.93% over the last 6 months – not to mention a rise of 26.13% 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 49.46, with the RSI for the last a single of trading hit 49.54, and the three-weeks RSI is set at 48.39 for Onconova Therapeutics Inc. [ONTX]. The present Moving Average for the last 50 days of trading for this stock 5.10, while it was recorded at 5.23 for the last single week of trading, and 9.51 for the last 200 days.
Onconova Therapeutics Inc. [ONTX]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Onconova Therapeutics Inc. [ONTX] shares currently have an operating margin of -10819.48. Onconova Therapeutics Inc.’s Net Margin is presently recorded at -10890.48.
Return on Total Capital for ONTX is now -281.63, given the latest momentum, and Return on Invested Capital for the company is -283.48. Return on Equity for this stock declined to -283.48, with Return on Assets sitting at -115.24.
Reflecting on the efficiency of the workforce at the company, Onconova Therapeutics Inc. [ONTX] managed to generate an average of -$2,096,417 per employee. Receivables Turnover for the company is 3.42 with a Total Asset Turnover recorded at a value of 0.01.Onconova Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.90 and a Current Ratio set at 5.90.
Onconova Therapeutics Inc. [ONTX]: Insider Ownership positions
There are presently around $8 million, or 19.40% of ONTX stock, in the hands of institutional investors. The top three institutional holders of ONTX stocks are: VANGUARD GROUP INC with ownership of 680,618, which is approximately -3.127% of the company’s market cap and around 0.55% of the total institutional ownership; BLACKROCK INC., holding 251,397 shares of the stock with an approximate value of $1.28 million in ONTX stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $0.73 million in ONTX stock with ownership of nearly 3.773% of the company’s market capitalization.
Positions in Onconova Therapeutics Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 17 institutional holders increased their position in Onconova Therapeutics Inc. [NASDAQ:ONTX] by around 412,057 shares. Additionally, 48 investors decreased positions by around 1,052,586 shares, while 1 investors held positions by with 138,084 shares. The mentioned changes placed institutional holdings at 1,602,727 shares, according to the latest SEC report filing. ONTX stock had 8 new institutional investments in for a total of 162,356 shares, while 39 institutional investors sold positions of 927,454 shares during the same period.