Onconetix (NASDAQ:ONCO) Stock Price Crosses Above 50 Day Moving Average – Time to Sell?

Onconetix, Inc. (NASDAQ:ONCO) crossed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $6.55 and traded as high as $7.82. Onconetix shares last traded at $6.95, with a volume of 705,953 shares trading hands.

Analysts Set New Price Targets

ONCO has been the topic of a number of recent analyst reports. Wall Street Zen raised Onconetix from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Weiss Ratings upgraded shares of Onconetix from a “sell (e)” rating to a “sell (e+)” rating in a report on Thursday, October 29th. One analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

Onconetix Stock Up 26.6%

The company has a market cap of $4.10 million, a price-to-earnings ratio of 0.03 and a beta of 2.62. The stock has a 50 day simple moving average of $6.55 and a 200 day simple moving average of $134.29.

Onconetix (NASDAQ:ONCO) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($12.80) EPS for the quarter, beating analysts’ consensus estimates of ($45,050.00) by $45,037.20. The business had revenue of $0.02 million during the quarter, compared to analyst estimates of $0.02 million. Onconetix had a negative net margin of 1,575.89% and a negative return on equity of 91.95%.

Onconetix Company Profile

Onconetix, Inc is a biotechnology company focused on developing and commercializing diagnostic and therapeutic products for men’s health. The company’s portfolio is centered primarily on prostate health, with products intended to support the detection, risk assessment and treatment of prostate-related conditions.

Its lead diagnostic product is Proclarix, a blood-based test designed to help assess the risk of clinically significant prostate cancer in men with elevated prostate-specific antigen (PSA) levels.