Onconova Therapeutics Inc (NASDAQ:ONTX) price on Thursday, March 28, rose 4.12% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $1.01.
A look at the stock’s price movement, the close in the last trading session was $0.97. The beta value (5-Year monthly) was 1.35. Turning to its 52-week performance, $1.45 and $0.55 were the 52-week high and 52-week low respectively. Overall, ONTX moved 24.52% over the past month.
Onconova Therapeutics Inc’s market cap currently stands at around $21.21 million, with investors looking forward to this quarter’s earnings report slated for May 13, 2024 – May 17, 2024. Analysts project the company’s earnings per share (EPS) to be -$0.25, which has seen fiscal year 2023 EPS growth forecast to increase to -$0.96 and about -$0.88 for fiscal year 2024. Per the data, EPS growth is expected to be -5.50% for 2024 and 8.30% for the next financial year.
Analysts have a consensus estimate of $60k for the company’s revenue for the quarter, with a low and high estimate of $60k and $80k respectively. The average forecast suggests up to a 7.10% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue for 2023 to grow to $210k, representing a -7.10% decline on that reported in the last financial year.
Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was no upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that ONTX is a 100% Buy. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in 50% Buy category.
ONTX’s current price about 13.82% and 30.38% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 69.76, while 7-day volatility ratio is 6.95% and 8.35% in the 30-day chart. Further, Onconova Therapeutics Inc (ONTX) has a beta value of 1.37, and an average true range (ATR) of 0.07.
If we refocus on Onconova Therapeutics Inc (NASDAQ:ONTX), historical trading data shows that trading volumes averaged 95210.0 over the past 10 days and 76.23K over the past 3 months. The company’s latest data on shares outstanding shows there are 20.93 million shares.
The 0.78% of Onconova Therapeutics Inc’s shares are in the hands of company insiders while institutional holders own 7.94% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 20700.0 on Mar 15, 2024, giving us a short ratio of 0.19. The data shows that as of Mar 15, 2024 short interest in Onconova Therapeutics Inc (ONTX) stood at 0.10% of shares outstanding, with shares short falling to 31060.0 registered in Feb 15, 2024. Current price change has pushed the stock 35.46% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the ONTX stock continues to rise going into the next quarter.
