Onconetix (NASDAQ:ONCO) Issues Quarterly Earnings Results

Onconetix (NASDAQ:ONCO) announced its quarterly earnings results on Thursday. The company reported ($1.28) EPS for the quarter, topping analysts’ consensus estimates of ($4,505.00) by $4,503.72, FiscalAI reports. Onconetix had a negative return on equity of 99.04% and a negative net margin of 1,575.89%.The business had revenue of $0.02 million for the quarter, compared to analysts’ expectations of $0.02 million.

Onconetix Trading Down 8.1%

Shares of NASDAQ ONCO traded down $0.07 during trading hours on Friday, reaching $0.81. The stock had a trading volume of 232,110 shares, compared to its average volume of 290,259. The business’s fifty day moving average price is $0.93 and its two-hundred day moving average price is $16.16. The firm 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 52-week low of $0.67 and a 52-week high of $209.50.

Institutional Trading of Onconetix

An institutional investor recently bought a new stake in Onconetix stock. Citadel Advisors LLC bought a new position in shares of Onconetix, Inc. (NASDAQ:ONCO) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 15,633 shares of the company’s stock, valued at approximately $49,000. Citadel Advisors LLC owned approximately 1.00% of Onconetix at the end of the most recent reporting period. Institutional investors and hedge funds own 23.89% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Weiss Ratings cut shares of Onconetix from a “sell (e+)” rating to a “sell (e)” rating in a research note on Tuesday. Wall Street Zen raised shares of Onconetix from a “sell” rating to a “hold” rating in a report on Saturday. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

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.