Citius Oncology (NASDAQ:CTOR) Shares Down 2% – Here’s Why

Citius Oncology, Inc. (NASDAQ:CTOR) fell 2% on Friday . The company traded as low as $0.7612 and last traded at $0.78. 48,521 shares traded hands during trading, a decline of 33% from the average session volume of 71,935 shares. The stock had previously closed at $0.7959.

Citius Oncology Trading Down 2.0%

The business has a 50-day simple moving average of $0.81 and a two-hundred day simple moving average of $0.99. The stock has a market cap of $72.52 million, a price-to-earnings ratio of -1.66 and a beta of 3.41. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.50 and a quick ratio of 0.12.

Citius Oncology (NASDAQ:CTOR) last announced its quarterly earnings results on Friday, May 15th. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.26). The business had revenue of $1.67 million during the quarter, compared to analysts’ expectations of $7.00 million.

Institutional Investors Weigh In On Citius Oncology

A number of institutional investors have recently made changes to their positions in CTOR. Geode Capital Management LLC boosted its holdings in shares of Citius Oncology by 179.0% during the second quarter. Geode Capital Management LLC now owns 57,297 shares of the company’s stock worth $249,000 after acquiring an additional 36,758 shares during the period. Jane Street Group LLC bought a new stake in shares of Citius Oncology during the second quarter worth approximately $465,000. Bank of America Corp DE boosted its holdings in shares of Citius Oncology by 5,256.9% during the second quarter. Bank of America Corp DE now owns 8,571 shares of the company’s stock worth $37,000 after acquiring an additional 8,411 shares during the period. Citadel Advisors LLC bought a new stake in shares of Citius Oncology during the third quarter worth approximately $36,000. Finally, Armistice Capital LLC bought a new stake in shares of Citius Oncology during the third quarter worth approximately $15,582,000. 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.