Citius Oncology (NASDAQ:CTOR) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Key Points

• Citius Oncology missed quarterly expectations: The company reported an EPS loss of $0.08, $0.01 below consensus, while revenue of $1.49 million fell short of the $2.50 million estimate.
• Shares rose 10% to $0.91 despite the earnings miss, with trading volume exceeding twice its average daily level. The stock has ranged from $0.49 to $2.25 over the past year.
• Analysts maintain a consensus “Hold” rating and a $6.00 average price target, while institutional investors own 70.52% of the company’s shares.

Citius Oncology (NASDAQ:CTOR - Get Free Report) issued its quarterly earnings data on Friday. The company reported ($0.08) EPS for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.01), FiscalAI reports. The company had revenue of $1.49 million for the quarter, compared to analysts' expectations of $2.50 million.

Citius Oncology Trading Up 10.0%

Shares of CTOR traded up $0.08 on Friday, hitting $0.91. 257,395 shares of the stock traded hands, compared to its average volume of 122,617. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.12 and a current ratio of 0.50. The stock's 50 day moving average is $0.68 and its two-hundred day moving average is $0.82. Citius Oncology has a 1 year low of $0.49 and a 1 year high of $2.25.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Citius Oncology from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, July 28th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $6.00.

Institutional Investors Weigh In On Citius Oncology

Hedge funds and other institutional investors have recently made changes to their positions in the business. Armistice Capital LLC purchased a new position in Citius Oncology during the third quarter worth about $15,582,000. OMERS ADMINISTRATION Corp acquired a new stake in Citius Oncology in the 4th quarter worth about $104,000. Geode Capital Management LLC grew its holdings in Citius Oncology by 31.6% in the 4th quarter. Geode Capital Management LLC now owns 220,047 shares of the company's stock valued at $220,000 after buying an additional 52,875 shares during the period. Jane Street Group LLC purchased a new stake in Citius Oncology in the 2nd quarter valued at about $465,000. Finally, Bank of America Corp DE increased its stake in shares of Citius Oncology by 5,256.9% during the 2nd quarter. Bank of America Corp DE now owns 8,571 shares of the company's stock valued at $37,000 after acquiring an additional 8,411 shares during the last quarter. Hedge funds and other institutional investors own 70.52% of the company's stock.

Citius Oncology Company Profile

Citius Oncology, Inc is a pharmaceutical company, which engages in developing and commercializing targeted oncology therapies. Its lead product candidate is LYMPHIR, an engineered IL-2 diphtheria toxin fusion protein, for the treatment of patients with persistent or recurrent CTCL, a rare form of non-Hodgkin lymphoma. The company was founded on March 1, 2021 and is headquartered in Cranford, NJ.

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