Wall Street Zen Upgrades Onconetix (NASDAQ:ONCO) to “Hold”

Onconetix (NASDAQ:ONCO) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Separately, Weiss Ratings downgraded shares of Onconetix from a “sell (e+)” rating to a “sell (e)” rating in a report on Tuesday, August 11th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of “Sell”.

Onconetix Price Performance

Shares of NASDAQ:ONCO opened at $0.81 on Friday. The stock has a market cap of $924,882.00, a price-to-earnings ratio of 0.00 and a beta of 2.69. Onconetix has a 12-month low of $0.67 and a 12-month high of $209.50. The business’s 50 day moving average is $0.93 and its 200 day moving average is $16.16.

Onconetix (NASDAQ:ONCO) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($1.28) earnings per share for the quarter, beating the consensus estimate of ($4,505.00) by $4,503.72. The business had revenue of $0.02 million for the quarter, compared to analysts’ expectations of $0.02 million. Onconetix had a negative return on equity of 91.95% and a negative net margin of 1,575.89%.

Institutional Trading of Onconetix

A hedge fund recently bought a new position in Onconetix stock. Citadel Advisors LLC purchased a new position in shares of Onconetix, Inc. (NASDAQ:ONCO) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 15,633 shares of the company’s stock, valued at approximately $49,000. Citadel Advisors LLC owned 1.00% of Onconetix at the end of the most recent quarter. 23.89% of the stock is currently owned by hedge funds and other institutional investors.

Onconetix Company Profile

Onconetix, Inc, a biotechnology company, focuses on the research, development, and commercialization of solutions for men's health and oncology. It offers Entadfi, an FDA-approved, once daily pill that combines finasteride and tadalafil for the treatment of benign prostatic hyperplasia; and Proclarix, an in vitro protein-based blood diagnostic test for prostate cancer. The company was formerly known as Blue Water Biotech, Inc and changed its name to Onconetix, Inc in December 2023. Onconetix, Inc was incorporated in 2018 and is headquartered in Cincinnati, Ohio.