Citius Oncology (NASDAQ:CTOR) Stock Price Up 3.3% - Should You Buy?

Key Points

• Citius Oncology's shares increased by 3.3% to $1.90, with a trading volume of 231,002 shares, marking an 11% rise from its average session volume.
• Recent analyst ratings have resulted in a consensus of "Hold" for the stock, with a price target set at $3.00.
• Institutional ownership stands at 70.52%, with several firms significantly increasing their stakes in the company during recent trading periods.

Citius Oncology, Inc. (NASDAQ:CTOR - Get Free Report)'s share price rose 3.3% during trading on Tuesday . The stock traded as high as $1.97 and last traded at $1.90. Approximately 231,002 shares changed hands during trading, an increase of 11% from the average daily volume of 208,069 shares. The stock had previously closed at $1.84.

Analyst Upgrades and Downgrades

CTOR has been the topic of several research reports. Citigroup lowered Citius Oncology to a "hold" rating in a research note on Friday, May 23rd. Maxim Group lowered Citius Oncology from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 23rd. Finally, Wall Street Zen upgraded Citius Oncology to a "hold" rating in a research note on Saturday, July 26th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $3.00.

Citius Oncology Stock Performance

The firm has a 50 day simple moving average of $2.00 and a 200-day simple moving average of $1.53. The company has a quick ratio of 0.02, a current ratio of 0.35 and a debt-to-equity ratio of 0.12.

Institutional Investors Weigh In On Citius Oncology

Large investors have recently modified their holdings of the business. Citadel Advisors LLC purchased a new stake in shares of Citius Oncology during the fourth quarter worth about $26,000. Bank of America Corp DE grew its stake in shares of Citius Oncology by 5,256.9% during the second quarter. Bank of America Corp DE now owns 8,571 shares of the company's stock worth $37,000 after acquiring an additional 8,411 shares during the last quarter. Arkadios Wealth Advisors purchased a new stake in shares of Citius Oncology during the second quarter worth about $51,000. Geode Capital Management LLC grew its stake in shares of Citius Oncology by 179.0% during the second quarter. Geode Capital Management LLC now owns 57,297 shares of the company's stock worth $249,000 after acquiring an additional 36,758 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of Citius Oncology during the second quarter worth about $465,000. Hedge funds and other institutional investors own 70.52% of the company's stock.

About Citius Oncology

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.