Onconetix (NASDAQ:ONCO) Issues Quarterly Earnings Results

Onconetix (NASDAQ:ONCO) released its quarterly earnings results on Thursday. The company reported ($1.28) EPS for the quarter, topping the consensus estimate of ($4,505.00) by $4,503.72, FiscalAI reports. Onconetix had a negative return on equity of 101.08% and a negative net margin of 1,316.28%.The firm had revenue of $0.02 million for the quarter, compared to analyst estimates of $0.02 million.

Onconetix Trading Down 5.6%

Shares of ONCO stock traded down $0.05 on Friday, reaching $0.83. The company had a trading volume of 177,022 shares, compared to its average volume of 680,217. The stock has a market cap of $949,620.00, a PE ratio of 0.07 and a beta of 2.69. The company has a 50-day moving average of $0.94 and a 200-day moving average of $16.72. Onconetix has a 12 month low of $0.67 and a 12 month high of $209.50.

Hedge Funds Weigh In On Onconetix

A hedge fund recently bought a new stake in Onconetix stock. Citadel Advisors LLC purchased a new stake in Onconetix, Inc. (NASDAQ:ONCO) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 15,633 shares of the company’s stock, valued at approximately $49,000. Citadel Advisors LLC owned 1.00% of Onconetix as of its most recent SEC filing. Hedge funds and other institutional investors own 23.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Weiss Ratings lowered shares of Onconetix from a “sell (e+)” rating to a “sell (e)” rating in a research note on Tuesday. Wall Street Zen cut shares of Onconetix from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell”.

About Onconetix

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.