Onconetix Shares to Reverse Split on Friday, November 6th (NASDAQ:ONCO)

Shares of Onconetix, Inc. (NASDAQ:ONCO) are scheduled to reverse split on the morning of Friday, November 6th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Thursday, November 5th.

Onconetix Stock Up 26.0%

ONCO stock opened at $0.60 on Thursday. The stock has a market capitalization of $3.13 million, a P/E ratio of 0.00 and a beta of 2.61. The firm has a 50-day simple moving average of $0.66 and a 200-day simple moving average of $15.84. Onconetix has a 52 week low of $0.34 and a 52 week high of $200.00.

Onconetix (NASDAQ:ONCO) last released its quarterly earnings results on Thursday, August 13th. The company reported ($1.28) earnings per share for the quarter, topping the consensus estimate of ($4,505.00) by $4,503.72. The firm had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.02 million. Onconetix had a negative net margin of 1,575.89% and a negative return on equity of 91.95%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ONCO. Weiss Ratings downgraded Onconetix from a “sell (e+)” rating to a “sell (e)” rating in a research report on Tuesday, October 13th. Wall Street Zen raised Onconetix from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

Onconetix Company Profile

Onconetix, Inc is a biotechnology company focused on developing and commercializing diagnostic and therapeutic products for men’s health. The company’s portfolio is centered primarily on prostate health, with products intended to support the detection, risk assessment and treatment of prostate-related conditions.

Its lead diagnostic product is Proclarix, a blood-based test designed to help assess the risk of clinically significant prostate cancer in men with elevated prostate-specific antigen (PSA) levels.