Onconetix (NASDAQ:ONCO) Issues Quarterly Earnings Results

Onconetix (NASDAQ:ONCO) announced its quarterly earnings data on Wednesday. The company reported ($6.71) earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of $0.02 million for the quarter. Onconetix had a negative net margin of 1,316.28% and a negative return on equity of 111.36%.

Onconetix Stock Down 3.3%

NASDAQ ONCO traded down $0.01 during trading on Friday, hitting $0.38. 392,792 shares of the stock traded hands, compared to its average volume of 5,122,893. The company has a market capitalization of $248,820.00, a P/E ratio of 0.33 and a beta of 3.01. The firm has a 50-day simple moving average of $1.56 and a 200-day simple moving average of $6.69. Onconetix has a 12-month low of $0.36 and a 12-month high of $53.55.

Analyst Ratings Changes

A number of brokerages recently weighed in on ONCO. Weiss Ratings upgraded shares of Onconetix from a “sell (e)” rating to a “sell (e+)” rating in a research report on Friday, May 8th. Wall Street Zen upgraded shares of Onconetix to a “hold” rating in a report on Saturday, May 2nd. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus rating of “Sell”.

Insider Activity

In other news, major shareholder Financial Lp Hrt sold 49,710 shares of the company’s stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $0.69, for a total transaction of $34,299.90. Following the sale, the insider directly owned 33,649 shares of the company’s stock, valued at $23,217.81. This represents a 59.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders purchased 201,540 shares of company stock worth $152,875 and sold 198,039 shares worth $144,469. 0.27% of the stock is owned by company insiders.

Institutional Investors Weigh In On Onconetix

An institutional investor recently bought a new position in Onconetix stock. Citadel Advisors LLC acquired a new stake in shares of Onconetix, Inc. (NASDAQ:ONCO) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). 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 as of its most recent SEC filing. Hedge funds and other institutional investors 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.