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

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

Onconetix Stock Performance

ONCO stock traded down $0.01 during midday trading on Thursday, reaching $0.88. The stock had a trading volume of 44,344 shares, compared to its average volume of 297,277. The stock has a market cap of $1.01 million, a PE ratio of 0.02 and a beta of 2.69. The firm has a fifty day simple moving average of $0.94 and a two-hundred day simple moving average of $16.72. Onconetix has a 52-week low of $0.67 and a 52-week high of $209.50.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ONCO shares. Weiss Ratings lowered Onconetix from a “sell (e+)” rating to a “sell (e)” rating in a report on Tuesday. Wall Street Zen downgraded Onconetix from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Onconetix presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Onconetix stock. Citadel Advisors LLC bought a new position in shares of Onconetix, Inc. (NASDAQ:ONCO) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 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. 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.