Oncternal Therapeutics (NASDAQ:ONCT) Issues Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Oncternal Therapeutics (NASDAQ:ONCT) issued its earnings results on Thursday. The company reported ($2.83) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.88) by $0.05, Zacks reports. The firm had revenue of $0.57 million during the quarter, compared to analysts’ expectations of $0.18 million. Oncternal Therapeutics had a negative net margin of 3,160.73% and a negative return on equity of 97.25%. During the same period last year, the firm posted ($4.00) earnings per share.

Oncternal Therapeutics Trading Down 5.3 %

Shares of NASDAQ:ONCT traded down $0.46 during midday trading on Friday, hitting $8.18. The company had a trading volume of 2,568 shares, compared to its average volume of 3,894. Oncternal Therapeutics has a 12 month low of $5.57 and a 12 month high of $13.14. The stock has a market cap of $24.21 million, a price-to-earnings ratio of -0.66 and a beta of 1.28. The firm has a fifty day simple moving average of $8.71 and a 200 day simple moving average of $8.40.

Insider Activity

In other Oncternal Therapeutics news, Director Robert James Wills acquired 3,086 shares of the business’s stock in a transaction dated Monday, April 8th. The shares were acquired at an average price of $8.96 per share, with a total value of $27,650.56. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $89,600. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have acquired 10,714 shares of company stock worth $92,736 in the last 90 days. Corporate insiders own 8.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. HC Wainwright lowered their price target on Oncternal Therapeutics from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, April 15th. StockNews.com assumed coverage on shares of Oncternal Therapeutics in a research report on Saturday. They set a “hold” rating for the company.

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.