Citius Oncology (NASDAQ:CTOR) Shares Up 3.3% - Still a 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.

Shares of Citius Oncology, Inc. (NASDAQ:CTOR - Get Free Report) shot up 3.3% on Tuesday . The company traded as high as $1.97 and last traded at $1.90. 231,002 shares traded hands during trading, an increase of 11% from the average session volume of 208,069 shares. The stock had previously closed at $1.84.

Wall Street Analyst Weigh In

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

Citius Oncology Stock Performance

The company has a debt-to-equity ratio of 0.12, a current ratio of 0.35 and a quick ratio of 0.02. The company has a 50-day moving average price of $2.26 and a 200-day moving average price of $1.51.

Institutional Trading of Citius Oncology

Institutional investors have recently modified their holdings of the company. Jane Street Group LLC acquired a new stake in shares of Citius Oncology in the second quarter valued at about $465,000. Geode Capital Management LLC increased its position in shares of Citius Oncology by 179.0% in the second quarter. Geode Capital Management LLC now owns 57,297 shares of the company's stock valued at $249,000 after acquiring an additional 36,758 shares during the last quarter. Citadel Advisors LLC acquired a new stake in shares of Citius Oncology in the fourth quarter valued at about $26,000. Arkadios Wealth Advisors acquired a new stake in shares of Citius Oncology in the second quarter valued at about $51,000. Finally, Bank of America Corp DE increased its position in shares of Citius Oncology by 5,256.9% in the second 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. 70.52% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.