Why Buy Onconova Therapeutics Inc (NASDAQ:ONTX)

Onconova Therapeutics Inc (NASDAQ:ONTX) is moving sharply higher in early trading in Tuesday’s session . ONTX traded above the April resistance area and after some profit taking could head higher.

Market Action

As of 10:04, ONTX is soaring 28% to trade at $0.79. So far more than 50.20 million shares have exchanged hands, well above its 30-day moving average volume of 24.14 million shares.

ONTX Releases Q1 Earnings

Onconova Therapeutics Reports First Quarter 2021 Financial Results and Provides Business Update

  • Cash and cash equivalents as of March 31, 2021 were $48.0 million, compared with $19.0 million as of December 31, 2020.
  • Net loss for the first quarter of 2021 was $4.7 million, or $0.02 per share on 219.2 million weighted average shares outstanding, compared with a net loss for the first quarter of 2020 of $5.1 million, or $0.03 per share on 160.3 million weighted average shares outstanding.
  • Research and development expenses were $1.9 million for the first quarter of 2021, compared with $3.4 million for the first quarter of 2020.

Trader Notes

Share Information

SHARE FLOAT (%)221.71 M (93.70%)

Recent Stock Performance

5-DAY PERF.+53.55%
1-MONTH PERF.+32.56%
3-MONTH PERF.-54.55%
6-MONTH PERF.+207.57%
YTD PERF.+71.75%
1-YEAR PERF.+115.46%

Moving Averages

+/- EMA(20)0.65 (+23.08%)
+/- SMA(50)0.82 (-2.44%)
+/- SMA(200)0.63 (+26.98%)

Pivot Points

NameS3S2S1Pivot PointsR1R2R3

Technical Indicators

CCI20-30.8072NeutralChaikin Money Flow-0.1579Sell
MACD-0.0914SellMoney Flow Index34.4738Sell
STOCH (14,3)43.5074BuySTOCH RSI1.0000OverBought
UO38.8534BuyWilliams %R-56.4926Neutral

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