Is it Time to Dump Onconova Therapeutics Inc (ONTX) Stock After it Is Higher By 5.71% in a Week?

Tuesday, December 12, 2023 01:50 PM | InvestorsObserver Analysts

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Is it Time to Dump Onconova Therapeutics Inc (ONTX) Stock After it Is Higher By 5.71% in a Week?

The market has been high on Onconova Therapeutics Inc (ONTX) stock recently. ONTX gets a Bullish score from InvestorsObserver Stock Sentiment Indicator.

Onconova Therapeutics Inc has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on ONTX!

See Full ONTX Report

What is Stock Sentiment?

Sentiment is a very short-term indicator that is entirely technical. There is no information about the health of profitability of the underlying company in our sentiment score. As a technical indicator, news about the stock, or company, such as an earnings release or other event, could move the stock counter to the recent trend. Recent trends are a good indicator of current market sentiments. In its most basic form, stocks that are trending up are desirable by investors while stocks currently falling must be unattractive. InvestorsObserver's Sentimental Indicator tracks both changes in price and volume to analyze the most recent trends. Typically an increase in volume indicates ongoing trends are getting stronger, while a decrease in volume usually signals an end to the current trend. Available options can also represent current sentiments for a given stock. Since investors are able to bet on future trends of stocks using options, we consider the ratio of calls to puts when analyzing market sentiments .

What's Happening With ONTX Stock Today?

Onconova Therapeutics Inc (ONTX) stock is down -6.32% while the S&P 500 has risen 0.22% as of 1:45 PM on Tuesday, Dec 12. ONTX is down -$0.05 from the previous closing price of $0.79 on volume of 400,392 shares. Over the past year the S&P 500 is up 16.09% while ONTX is down -6.33%. ONTX lost -$0.96 per share in the over the last 12 months. To see InvestorsObserver's Sentiment Score for Onconova Therapeutics Inc click here.

More About Onconova Therapeutics Inc

Onconova Therapeutics Inc is a biopharmaceutical company focused on discovering and developing novel products to treat cancer. The company has proprietary targeted anti-cancer agents designed to disrupt specific cellular pathways that are important for cancer cell proliferation. Onconova's novel, proprietary multi-kinase inhibitor ON 123300 is currently in a dose-escalation and expansion Phase 1 trial in China, and an IND has been filed in the U.S. Its product candidate oral rigosertib is currently in a dose-escalation and expansion Phase 1 investigator-initiated study targeting patients with KRAS+ lung adenocarcinoma in combination with nivolumab. Click Here to get the full Stock Report for Onconova Therapeutics Inc stock.