Oncternal Therapeutics, Inc. (NASDAQ:ONCT) Short Interest Down 26.0% in September

Oncternal Therapeutics, Inc. (NASDAQ:ONCT) saw a large decline in short interest in the month of September. As of September 30th, there was short interest totalling 17,900 shares, a decline of 26.0% from the September 15th total of 24,200 shares. Based on an average daily volume of 40,100 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.7% of the shares of the company are sold short.

Institutional Investors Weigh In On Oncternal Therapeutics

An institutional investor recently bought a new position in Oncternal Therapeutics stock. Quantum Private Wealth LLC bought a new position in Oncternal Therapeutics, Inc. (NASDAQ:ONCT) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 27,806 shares of the company’s stock, valued at approximately $250,000. Quantum Private Wealth LLC owned about 0.94% of Oncternal Therapeutics at the end of the most recent reporting period. 16.05% of the stock is owned by hedge funds and other institutional investors.

Oncternal Therapeutics Trading Down 0.9 %

Shares of NASDAQ ONCT opened at $1.12 on Friday. The business has a 50-day moving average of $3.10 and a 200-day moving average of $6.43. The firm has a market capitalization of $3.32 million, a price-to-earnings ratio of -0.09 and a beta of 1.36. Oncternal Therapeutics has a 12 month low of $1.08 and a 12 month high of $13.14.

Oncternal Therapeutics (NASDAQ:ONCT) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($2.89) EPS for the quarter, topping analysts’ consensus estimates of ($3.03) by $0.14. Oncternal Therapeutics had a negative net margin of 1,948.70% and a negative return on equity of 136.10%. The firm had revenue of $0.80 million for the quarter, compared to analyst estimates of $0.24 million. During the same quarter in the prior year, the firm earned ($3.00) EPS. On average, analysts predict that Oncternal Therapeutics will post -12.43 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have issued reports on the company. Northland Securities restated a “market perform” rating and issued a $2.00 target price on shares of Oncternal Therapeutics in a research note on Thursday, September 12th. HC Wainwright lowered their price target on shares of Oncternal Therapeutics from $19.00 to $18.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. StockNews.com initiated coverage on shares of Oncternal Therapeutics in a research note on Thursday. They issued a “hold” rating for the company. Brookline Capital Management reaffirmed a “hold” rating on shares of Oncternal Therapeutics in a report on Thursday, September 12th. Finally, Northland Capmk cut Oncternal Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 12th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $20.00.

About Oncternal Therapeutics

Oncternal Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development of oncology therapies for cancers with critical unmet medical needs. The company's clinical pipeline includes zilovertamab, a humanized monoclonal antibody that binds to receptor-tyrosine kinase-like Orphan Receptor 1 (ROR1); and ONCT-216, a small molecule inhibiting the biological activity of ETS-family transcription factor oncoproteins, which is in Phase 1/2 clinical trial.