Onconova Therapeutics, Inc. (NASDAQ:ONTX) Short Interest Update

Onconova Therapeutics, Inc. (NASDAQ:ONTX) was the recipient of a significant decline in short interest in the month of March. As of March 15th, there was short interest totalling 20,700 shares, a decline of 58.8% from the February 29th total of 50,300 shares. Based on an average daily volume of 75,900 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC increased its stake in Onconova Therapeutics by 140.8% during the 1st quarter. Renaissance Technologies LLC now owns 321,743 shares of the biopharmaceutical company’s stock worth $592,000 after acquiring an additional 188,116 shares during the period. Vanguard Group Inc. grew its holdings in shares of Onconova Therapeutics by 21.7% during the 3rd quarter. Vanguard Group Inc. now owns 622,958 shares of the biopharmaceutical company’s stock worth $549,000 after purchasing an additional 110,965 shares in the last quarter. Beacon Pointe Advisors LLC increased its position in shares of Onconova Therapeutics by 147.0% in the first quarter. Beacon Pointe Advisors LLC now owns 46,027 shares of the biopharmaceutical company’s stock worth $85,000 after purchasing an additional 27,396 shares during the period. Finally, Millennium Management LLC lifted its position in Onconova Therapeutics by 154.6% during the second quarter. Millennium Management LLC now owns 61,390 shares of the biopharmaceutical company’s stock worth $81,000 after purchasing an additional 37,275 shares during the period. 7.95% of the stock is owned by institutional investors.

Onconova Therapeutics Stock Up 4.1 %

Shares of ONTX traded up $0.04 during midday trading on Thursday, reaching $1.01. 216,528 shares of the stock were exchanged, compared to its average volume of 76,786. The stock’s 50 day simple moving average is $0.78 and its 200 day simple moving average is $0.73. The company has a market cap of $21.21 million, a P/E ratio of -1.04 and a beta of 1.34. Onconova Therapeutics has a twelve month low of $0.55 and a twelve month high of $1.45.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on Onconova Therapeutics in a research report on Saturday, March 23rd. They issued a “sell” rating on the stock.

Onconova Therapeutics Company Profile

Onconova Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing novel products to treat cancer in the United States. It has two clinical-stage programs, including narazaciclib, a multi-targeted kinase inhibitor that is in Phase I study for solid tumors, as well as hematological malignancies as a single agent or in combination with other anti-cancer therapies; and oral rigosertib alone or in combination with PD-1 inhibitor, which is in Phase I/IIa study for the treatment of progressive K-Ras mutated non-small cell lung cancer.