Onconetix (NASDAQ:ONCO) Posts Quarterly Earnings Results, Beats Estimates By $4,503.72 EPS

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

Onconetix Price Performance

NASDAQ ONCO traded down $0.01 during trading hours on Thursday, reaching $0.88. The company’s stock had a trading volume of 44,344 shares, compared to its average volume of 297,277. The firm has a market capitalization of $1.01 million, a price-to-earnings ratio of 0.02 and a beta of 2.69. Onconetix has a 1-year low of $0.67 and a 1-year high of $209.50. The company’s 50-day moving average is $0.94 and its two-hundred day moving average is $16.72.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Onconetix stock. Citadel Advisors LLC purchased a new stake in Onconetix, Inc. (NASDAQ:ONCO) during the third quarter, according to the company in its most recent Form 13F filing with the 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 as of its most recent filing with the SEC. 23.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ONCO shares. Wall Street Zen cut Onconetix from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. Weiss Ratings cut Onconetix from a “sell (e+)” rating to a “sell (e)” rating in a research report on Tuesday. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average 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.