Price Action Don’t Lie: Onconova Therapeutics Inc’s Stock Is Sell After Reaching 1 Year Low

Price Action Don't Lie: Onconova Therapeutics Inc's Stock Is Sell After Reaching 1 Year Low

The stock of Onconova Therapeutics Inc (NASDAQ:ONTX) hit a new 52-week low and has $2.21 target or 10.00% below today’s $2.45 share price. The 5 months bearish chart indicates high risk for the $15.40 million company. The 1-year low was reported on Nov, 9 by Barchart.com. If the $2.21 price target is reached, the company will be worth $1.54 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 85,835 shares traded hands or 83.55% up from the average. Onconova Therapeutics Inc (NASDAQ:ONTX) has declined 54.71% since April 7, 2016 and is downtrending. It has underperformed by 59.49% the S&P500.

According to Zacks Investment Research, “Onconova Therapeutics, Inc. operates as a clinical-stage biopharmaceutical company. It focuses on discovering and developing small molecule drug candidates to treat cancer. The Company’s products under different phases of development include Rigosertib intravenous (IV), Rigosertib Oral, Rigosertib IV, ON 013105 and Recilisib. Onconova Therapeutics, Inc. is headquartered in Newtown, Pennsylvania.”

More important recent Onconova Therapeutics Inc (NASDAQ:ONTX) news were published by: Fool.com which released: “Why Onconova Therapeutics Inc. Shares Imploded” on February 20, 2014, also Fiercebiotech.com published article titled: “Onconova Therapeutics, Inc. Receives Notice of Termination for Convenience …”, Globenewswire.com published: “Onconova Therapeutics, Inc. Announces Appointment of Jack E. Stover to Board …” on May 23, 2016. More interesting news about Onconova Therapeutics Inc (NASDAQ:ONTX) was released by: Fool.com and their article: “Why Onconova Therapeutics Inc. Shares Crashed” with publication date: December 18, 2013.

ONTX Company Profile

Onconova Therapeutics, Inc., incorporated on December 22, 1998, is a clinical-stage biopharmaceutical company. The Firm 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 Firm has created a targeted anti-cancer agents designed to work against specific cellular pathways that are important to cancer cells. It has over three clinical-stage product candidates and various preclinical programs that target kinases, cellular metabolism or cell division in preclinical development. The Company’s lead product candidate, rigosertib, is being tested in both intravenous (IV) and oral formulations as a single agent, and the oral formulation is also being tested in combination with azacitidine, in clinical trials for patients with myelodysplastic syndromes (MDS), and related cancers.

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