Oncternal Therapeutics, Inc. (NASDAQ:ONCT) Short Interest Down 17.4% in April

Oncternal Therapeutics, Inc. (NASDAQ:ONCT) was the target of a large drop in short interest in April. As of April 15th, there was short interest totalling 13,800 shares, a drop of 17.4% from the March 31st total of 16,700 shares. Currently, 0.5% of the shares of the stock are short sold. Based on an average daily volume of 9,400 shares, the days-to-cover ratio is presently 1.5 days.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ONCT shares. HC Wainwright cut their price target on shares of Oncternal Therapeutics from $30.00 to $28.00 and set a “buy” rating for the company in a report on Monday, April 15th. StockNews.com began coverage on shares of Oncternal Therapeutics in a research note on Thursday. They issued a “hold” rating on the stock.

Insider Activity

In related news, Director Robert James Wills purchased 6,914 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was acquired at an average price of $8.48 per share, for a total transaction of $58,630.72. Following the acquisition, the director now directly owns 6,914 shares of the company’s stock, valued at approximately $58,630.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders purchased 10,714 shares of company stock worth $92,736 in the last 90 days. 8.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Oncternal Therapeutics

An institutional investor recently raised its position in Oncternal Therapeutics stock. Richmond Brothers Inc. grew its position in shares of Oncternal Therapeutics, Inc. (NASDAQ:ONCT) by 69.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 494,042 shares of the company’s stock after purchasing an additional 203,010 shares during the period. Oncternal Therapeutics accounts for about 0.3% of Richmond Brothers Inc.’s investment portfolio, making the stock its 22nd largest position. Richmond Brothers Inc. owned about 0.84% of Oncternal Therapeutics worth $148,000 at the end of the most recent reporting period. Institutional investors own 16.05% of the company’s stock.

Oncternal Therapeutics Price Performance

Shares of NASDAQ ONCT opened at $8.29 on Friday. Oncternal Therapeutics has a 52 week low of $5.57 and a 52 week high of $13.14. The company’s 50-day moving average price is $8.84 and its 200 day moving average price is $8.24.

Oncternal Therapeutics (NASDAQ:ONCT) last issued its quarterly earnings data on Thursday, March 7th. The company reported ($3.11) EPS for the quarter, missing analysts’ consensus estimates of ($3.09) by ($0.02). The business had revenue of $0.30 million during the quarter, compared to analyst estimates of $0.17 million. Oncternal Therapeutics had a negative net margin of 5,029.17% and a negative return on equity of 95.87%. During the same period in the previous year, the company posted ($4.00) earnings per share. Equities research analysts forecast that Oncternal Therapeutics will post -10.67 earnings per share for the current fiscal year.

Oncternal Therapeutics Company Profile

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.