Short Interest in Oncternal Therapeutics, Inc. (NASDAQ:ONCT) Rises By 168.6%

Oncternal Therapeutics, Inc. (NASDAQ:ONCT) was the target of a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 45,400 shares, an increase of 168.6% from the October 15th total of 16,900 shares. Based on an average trading volume of 90,000 shares, the short-interest ratio is currently 0.5 days. Approximately 1.7% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

ONCT has been the subject of a number of recent analyst reports. Brookline Capital Management restated a “hold” rating on shares of Oncternal Therapeutics in a report on Thursday, September 12th. HC Wainwright lowered their price objective on shares of Oncternal Therapeutics from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Northland Capmk lowered Oncternal Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 12th. Northland Securities reiterated a “market perform” rating and issued a $2.00 target price on shares of Oncternal Therapeutics in a report on Thursday, September 12th. Finally, StockNews.com initiated coverage on Oncternal Therapeutics in a research note on Monday. They set a “hold” rating for the company. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $20.00.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Oncternal Therapeutics stock. Pasadena Private Wealth LLC bought a new position in Oncternal Therapeutics, Inc. (NASDAQ:ONCT) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 25,000 shares of the company’s stock, valued at approximately $190,000. Pasadena Private Wealth LLC owned about 0.84% of Oncternal Therapeutics at the end of the most recent quarter. 16.05% of the stock is owned by hedge funds and other institutional investors.

Oncternal Therapeutics Stock Performance

NASDAQ:ONCT remained flat at $1.11 on Friday. 57,394 shares of the company’s stock were exchanged, compared to its average volume of 34,745. Oncternal Therapeutics has a one year low of $1.03 and a one year high of $13.14. The stock’s 50-day moving average price is $1.63 and its 200-day moving average price is $5.21. The company has a market cap of $3.29 million, a PE ratio of -0.09 and a beta of 1.33.

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.