Onconova Therapeutics Inc (ONTX) Major Shareholder Purchases $208,000.00 in Stock

Onconova Therapeutics Inc (NASDAQ:ONTX) major shareholder 683 Capital Management, Llc purchased 200,000 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were purchased at an average price of $1.04 per share, for a total transaction of $208,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Onconova Therapeutics Inc (NASDAQ:ONTX) opened at $1.09 on Wednesday. Onconova Therapeutics Inc has a 12 month low of $0.95 and a 12 month high of $3.88. The firm has a market capitalization of $10.77, a P/E ratio of -0.36 and a beta of 0.08.

Several hedge funds have recently made changes to their positions in ONTX. Vanguard Group Inc. grew its stake in shares of Onconova Therapeutics by 58.4% in the 2nd quarter. Vanguard Group Inc. now owns 87,940 shares of the biopharmaceutical company’s stock valued at $190,000 after purchasing an additional 32,418 shares during the last quarter. 683 Capital Management LLC grew its stake in shares of Onconova Therapeutics by 21.0% in the 3rd quarter. 683 Capital Management LLC now owns 375,000 shares of the biopharmaceutical company’s stock valued at $641,000 after purchasing an additional 65,140 shares during the last quarter. Finally, Sabby Management LLC grew its stake in shares of Onconova Therapeutics by 104.0% in the 2nd quarter. Sabby Management LLC now owns 784,000 shares of the biopharmaceutical company’s stock valued at $1,693,000 after purchasing an additional 399,640 shares during the last quarter. Institutional investors own 25.45% of the company’s stock.

ONTX has been the topic of a number of research reports. HC Wainwright set a $6.00 price target on Onconova Therapeutics and gave the stock a “buy” rating in a research note on Thursday, January 4th. Maxim Group set a $6.00 price target on Onconova Therapeutics and gave the stock a “buy” rating in a research note on Thursday, November 9th. Finally, Zacks Investment Research upgraded Onconova Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $7.33.

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About Onconova Therapeutics

Onconova Therapeutics, Inc is a clinical-stage biopharmaceutical company. The Company operates through the identification and development of oncology therapeutics segment. It is focused on discovering and developing small molecule drug candidates to treat cancer. The Company has created a targeted anti-cancer agents designed to work against specific cellular pathways that are important to cancer cells.

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