Citius Oncology (NASDAQ:CTOR) Stock Price Up 0.6% - Here's What Happened

Key Points

• Citius Oncology shares edged up 0.6% in mid-day trading, with volume more than doubling the average session level. The stock traded between $0.5732 and $0.6298.
• Analyst sentiment remains cautious: Weiss Ratings downgraded the stock, while MarketBeat data shows two Buy ratings and one Sell rating, resulting in an overall Hold rating and a $6.00 average target price.
• Recent fundamentals were weak, as the company reported a wider-than-expected quarterly loss and revenue of $1.67 million versus the $7.00 million consensus estimate.

Citius Oncology, Inc. (NASDAQ:CTOR - Get Free Report)'s share price rose 0.6% during mid-day trading on Wednesday . The company traded as high as $0.6298 and last traded at $0.5732. Approximately 116,917 shares were traded during mid-day trading, an increase of 110% from the average session volume of 55,782 shares. The stock had previously closed at $0.57.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of Citius Oncology from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, July 14th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Citius Oncology presently has an average rating of "Hold" and an average target price of $6.00.

Citius Oncology Price Performance

The stock has a market capitalization of $53.30 million, a PE ratio of -1.22 and a beta of 3.47. The business's 50-day moving average price is $0.73 and its 200 day moving average price is $0.87. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.12 and a current ratio of 0.50.

Citius Oncology (NASDAQ:CTOR - Get Free Report) last issued its quarterly earnings data on Friday, May 15th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.26). The company had revenue of $1.67 million during the quarter, compared to the consensus estimate of $7.00 million.

Institutional Trading of Citius Oncology

Several institutional investors and hedge funds have recently modified their holdings of CTOR. Citadel Advisors LLC bought a new stake in shares of Citius Oncology during the 3rd quarter valued at about $36,000. 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 worth $37,000 after purchasing an additional 8,411 shares during the last quarter. IFP Advisors Inc increased its position in shares of Citius Oncology by 49.5% in the third quarter. IFP Advisors Inc now owns 33,215 shares of the company's stock worth $67,000 after purchasing an additional 11,000 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in Citius Oncology in the fourth quarter valued at approximately $104,000. Finally, Geode Capital Management LLC raised its stake in Citius Oncology by 31.6% in the fourth quarter. Geode Capital Management LLC now owns 220,047 shares of the company's stock valued at $220,000 after purchasing an additional 52,875 shares in 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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