Onconetix (NASDAQ:ONCO) Stock Crosses Above 50 Day Moving Average – Time to Sell?

Onconetix, Inc. (NASDAQ:ONCO)’s share price crossed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $6.55 and traded as high as $7.82. Onconetix shares last traded at $6.95, with a volume of 705,953 shares traded.

Wall Street Analyst Weigh In

Several brokerages recently commented on ONCO. Wall Street Zen raised Onconetix from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Weiss Ratings upgraded Onconetix from a “sell (e)” rating to a “sell (e+)” rating in a research report on Thursday, October 29th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Onconetix Trading Up 26.6%

The firm has a market cap of $4.10 million, a P/E ratio of 0.03 and a beta of 2.62. The company has a fifty day moving average price of $6.55 and a two-hundred day moving average price of $134.29.

Onconetix (NASDAQ:ONCO) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($12.80) earnings per share (EPS) for the quarter, topping the consensus estimate of ($45,050.00) by $45,037.20. The company had revenue of $0.02 million during the quarter, compared to analyst estimates of $0.02 million. Onconetix had a negative net margin of 1,575.89% and a negative return on equity of 91.95%.

About Onconetix

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.