Onconetix (NASDAQ:ONCO) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of Onconetix (NASDAQ:ONCO) from a sell rating to a hold rating in a report issued on Saturday.

Separately, Weiss Ratings downgraded Onconetix from a “sell (e+)” rating to a “sell (e)” rating in a report on Tuesday. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Onconetix has an average rating of “Sell”.

Onconetix Stock Performance

NASDAQ:ONCO opened at $0.81 on Friday. The firm has a market cap of $924,882.00, a P/E ratio of 0.00 and a beta of 2.69. Onconetix has a fifty-two week low of $0.67 and a fifty-two week high of $209.50. The firm has a 50-day simple moving average of $0.93 and a two-hundred day simple moving average of $16.16.

Onconetix (NASDAQ:ONCO) last issued its earnings results on Thursday, August 13th. The company reported ($1.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($4,505.00) by $4,503.72. The firm had revenue of $0.02 million for the quarter, compared to the consensus estimate of $0.02 million. Onconetix had a negative net margin of 1,575.89% and a negative return on equity of 99.04%.

Institutional Trading of Onconetix

A hedge fund recently bought a new position in Onconetix stock. Citadel Advisors LLC acquired a new position in Onconetix, Inc. (NASDAQ:ONCO) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 15,633 shares of the company’s stock, valued at approximately $49,000. Citadel Advisors LLC owned about 1.00% of Onconetix at the end of the most recent quarter. Institutional investors and hedge funds own 23.89% of the company’s stock.

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.