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Is Onconova Therapeutics Inc (ONTX) a Stock to Watch After Gaining 76.19% This Week?

Wednesday, February 01, 2023 03:21 PM | InvestorsObserver Analysts

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Is Onconova Therapeutics Inc (ONTX) a Stock to Watch After Gaining 76.19% This Week?

Onconova Therapeutics Inc (ONTX) stock is up 76.19% over the past week and gets a Bullish rating from InvestorsObserver Sentiment Indicator.

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

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. Price action is generally the best indicator of sentiment. For a stock to go up, investors must feel good about it. Similarly, a stock that is in a downtrend must be out of favor. InvestorsObserver’s Sentiment Indicator considers price action and recent trends in volume. Increasing volumes often mean that a trend is strengthening, while decreasing volumes can signal that a reversal could come soon. The options market is another place to get signals about sentiment. Since options allow investors to place bets on the price of a stock, we consider the ratio of calls and puts for stocks where options are available.

What's Happening With ONTX Stock Today?

Onconova Therapeutics Inc (ONTX) stock is trading at $1.48 as of 3:20 PM on Wednesday, Feb 1, a gain of $0.23, or 18.4% from the previous closing price of $1.25. The stock has traded between $1.22 and $1.49 so far today. Volume today is more active than usual. So far 696,423 shares have traded compared to average volume of 208,378 shares.

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.

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