Citius Oncology, Inc. (NASDAQ:CTOR) Shares Shorted: Short Interest Down 43.1% in September

Key Points

• Short interest fell 43.1% to 289,717 shares as of September 30, representing 0.3% of outstanding shares and 2.2 days of average trading volume.
• Bank of America significantly increased its stake to 3.84 million shares, or about 4.34% of Citius Oncology, while institutional investors collectively own 70.52% of the stock.
• The stock traded down 2.5% to $0.76, and the company’s consensus analyst rating remains “Sell.” Citius Oncology also missed quarterly expectations, reporting an $0.08 loss per share and $1.49 million in revenue.

Citius Oncology, Inc. (NASDAQ:CTOR - Get Free Report) was the recipient of a significant drop in short interest in the month of September. As of September 30th, there was short interest totaling 289,717 shares, a drop of 43.1% from the September 15th total of 509,543 shares. Currently, 0.3% of the shares of the company are sold short. Based on an average trading volume of 129,388 shares, the short-interest ratio is presently 2.2 days.

Institutional Investors Weigh In On Citius Oncology

An institutional investor recently raised its position in Citius Oncology stock. Bank of America Corp DE lifted its holdings in shares of Citius Oncology, Inc. (NASDAQ:CTOR - Free Report) by 1,792,030.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,835,160 shares of the company's stock after buying an additional 3,834,946 shares during the period. Bank of America Corp DE owned approximately 4.34% of Citius Oncology worth $2,374,000 at the end of the most recent quarter. 70.52% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Citius Oncology from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, September 16th. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, Citius Oncology has a consensus rating of "Sell".

Citius Oncology Trading Down 2.5%

NASDAQ:CTOR traded down $0.02 during trading hours on Thursday, reaching $0.76. 9,604 shares of the stock were exchanged, compared to its average volume of 153,769. The company has a quick ratio of 0.34, a current ratio of 0.73 and a debt-to-equity ratio of 0.25. The business has a 50-day moving average of $0.87 and a two-hundred day moving average of $0.79. Citius Oncology has a twelve month low of $0.49 and a twelve month high of $2.25. The company has a market capitalization of $71.04 million, a price-to-earnings ratio of -1.61 and a beta of 3.39.

Citius Oncology (NASDAQ:CTOR - Get Free Report) last announced its quarterly earnings data on Friday, August 14th. The company reported ($0.08) earnings per share 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.

Citius Oncology Company Profile

Citius Oncology, Inc NASDAQ: CTOR is a biopharmaceutical company focused on developing and commercializing therapies for cancer and related serious diseases. The company was established as an oncology-focused subsidiary of Citius Pharmaceuticals and became a separately traded public company following a business combination.

Citius Oncology's lead product is LYMPHIR (denileukin diftitox-cxdl), a targeted immunotherapy approved by the U.S. Food and Drug Administration for the treatment of relapsed or refractory cutaneous T-cell lymphoma in adults who have received at least one prior systemic therapy.

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