Bank of America Corp DE Acquires 3,834,946 Shares of Citius Oncology, Inc. $CTOR

Key Points

• Bank of America significantly increased its Citius Oncology stake, buying 3,834,946 additional shares in the first quarter to own 3,835,160 shares, or approximately 4.34% of the company. Institutional investors collectively hold 70.52% of CTOR.
• Citius Oncology reported a quarterly loss of $0.08 per share, missing estimates by $0.01, while revenue of $1.49 million fell short of the $2.50 million consensus forecast.
• CTOR shares opened at $0.75 after declining 1.7%. Analysts have a consensus “Hold” rating and a $6.00 price target, although Weiss Ratings downgraded the stock to “sell (e+).”

Bank of America Corp DE raised its stake in shares of Citius Oncology, Inc. (NASDAQ:CTOR - Free Report) by 1,792,030.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,835,160 shares of the company's stock after buying an additional 3,834,946 shares during the quarter. Bank of America Corp DE owned about 4.34% of Citius Oncology worth $2,374,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Citadel Advisors LLC bought a new stake in Citius Oncology in the 3rd quarter valued at $36,000. Geode Capital Management LLC boosted its holdings in shares of Citius Oncology by 179.0% during the 2nd quarter. Geode Capital Management LLC now owns 57,297 shares of the company's stock valued at $249,000 after purchasing an additional 36,758 shares during the last quarter. IFP Advisors Inc boosted its holdings in shares of Citius Oncology by 163.2% during the 4th quarter. IFP Advisors Inc now owns 87,424 shares of the company's stock valued at $87,000 after purchasing an additional 54,209 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new position in shares of Citius Oncology during the fourth quarter valued at about $104,000. Finally, Jane Street Group LLC bought a new stake in Citius Oncology in the 2nd quarter worth approximately $465,000. Institutional investors own 70.52% of the company's stock.

Citius Oncology Trading Down 1.7%

Shares of CTOR stock opened at $0.75 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.73 and a quick ratio of 0.34. The stock's 50 day simple moving average is $0.69 and its two-hundred day simple moving average is $0.79. The company has a market cap of $69.73 million, a PE ratio of -1.60 and a beta of 3.52. Citius Oncology, Inc. has a 1 year low of $0.49 and a 1 year high of $2.25.

Citius Oncology (NASDAQ:CTOR - Get Free Report) last released its quarterly earnings results on Friday, August 14th. The company reported ($0.08) EPS for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.01). The company had revenue of $1.49 million for the quarter, compared to analysts' expectations of $2.50 million.

Analysts Set New Price Targets

Separately, Weiss Ratings cut shares of Citius Oncology from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Monday. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $6.00.

Citius Oncology 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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