Oncternal therapeutics director buys $27.7k of company stock

SAN DIEGO, CA – Oncternal Therapeutics, Inc. (NASDAQ:ONCT), a biopharmaceutical company specializing in the development of cancer therapies, reported a notable insider transaction. Robert James Wills, a member of the company's board of directors, purchased shares in the company with a total value of approximately $27,700.

The transaction, which took place on April 8, involved the acquisition of 3,086 shares of common stock at a weighted-average price of $8.9613 per share. The shares were bought in multiple transactions at prices ranging from $8.76 to $9.00, as detailed in a footnote of the filing.

Following this purchase, Wills now directly owns a total of 10,000 shares in Oncternal Therapeutics. The transaction was disclosed in a Form 4 filing with the Securities and Exchange Commission dated April 10.

Oncternal Therapeutics, headquartered in San Diego, California, is known for its focus on developing treatments that target specific pathways in cancer. The company's stock is publicly traded on the NASDAQ stock exchange under the ticker symbol ONCT.

Investors often monitor insider transactions such as this one for insights into the confidence that company executives and directors have in the firm's prospects. Transactions by insiders can provide valuable information beyond the typical financial reports and market analysis.

The recent purchase by Director Wills may be interpreted by investors as a positive signal, suggesting a belief in the potential growth or undervaluation of the company's stock. However, as with all insider transactions, individual investment decisions should be based on a variety of factors, including broader market trends and personal financial objectives.

Oncternal Therapeutics, Inc. (NASDAQ:ONCT) has been in the spotlight following a significant insider transaction. As investors consider the implications of board member Robert James Wills' stock purchase, analysis from InvestingPro offers some key metrics and insights that can help provide a broader context.

InvestingPro data indicates that Oncternal Therapeutics currently has a market capitalization of $23.5 million. Despite the challenges faced by the company, such as a substantial sales decline of 47.32% over the last twelve months as of Q4 2023, there have been positive movements in the stock price with a 60.54% return over the past six months and a 54.59% return over the last year.

Moreover, the company holds a Price / Book ratio of 0.78 as of the last twelve months of Q4 2023, which can be an indicator of potential undervaluation relative to the company's asset base. This could partly explain the confidence demonstrated by the insider purchase.

InvestingPro Tips also highlight some critical aspects for investors to consider:

• The company maintains a stronger liquidity position, holding more cash than debt on its balance sheet, which is a reassuring sign of financial stability.
• Additionally, with liquid assets exceeding short-term obligations, Oncternal demonstrates a capacity to meet its immediate financial commitments.

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While analysts do not anticipate the company will be profitable this year, and there are concerns about weak gross profit margins, the recent insider transaction could be seen as a vote of confidence in the company's long-term strategy. Investors looking for more in-depth analysis can find additional InvestingPro Tips for Oncternal Therapeutics by visiting https://www.investing.com/pro/ONCT. There are a total of 10 InvestingPro Tips available, which can be accessed with a subscription. Don't forget to use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.

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