Short Interest in Onconetix, Inc. (NASDAQ:ONCO) Increases By 35.1%

Onconetix, Inc. (NASDAQ:ONCO) was the target of a large growth in short interest in the month of January. As of January 15th, there was short interest totaling 124,512 shares, a growth of 35.1% from the December 31st total of 92,196 shares. Approximately 8.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 47,680 shares, the days-to-cover ratio is currently 2.6 days. Based on an average daily trading volume, of 47,680 shares, the days-to-cover ratio is currently 2.6 days. Approximately 8.1% of the shares of the stock are short sold.

Onconetix Stock Down 4.7%

Shares of ONCO traded down $0.07 during trading hours on Friday, hitting $1.42. The company had a trading volume of 56,183 shares, compared to its average volume of 135,918. The business has a fifty day moving average of $1.91 and a 200-day moving average of $2.71. Onconetix has a 12 month low of $1.31 and a 12 month high of $59.50. The firm has a market cap of $2.20 million, a price-to-earnings ratio of 0.13 and a beta of 3.45.

Onconetix (NASDAQ:ONCO) last released its quarterly earnings data on Thursday, November 13th. The company reported ($6.25) earnings per share for the quarter. Onconetix had a negative net margin of 4,011.43% and a negative return on equity of 632.63%. The business had revenue of $0.30 million during the quarter.

Institutional Investors Weigh In On Onconetix

A hedge fund recently bought a new stake in Onconetix stock. Citadel Advisors LLC acquired a new position in Onconetix, Inc. (NASDAQ:ONCO) during the third quarter, according to its most recent filing with the SEC. The firm acquired 15,633 shares of the company’s stock, valued at approximately $49,000. Citadel Advisors LLC owned about 1.00% of Onconetix as of its most recent filing with the SEC. Institutional investors and hedge funds own 23.89% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Onconetix in a research report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

Onconetix Company Profile

Onconetix, Inc, a biotechnology company, focuses on the research, development, and commercialization of solutions for men's health and oncology. It offers Entadfi, an FDA-approved, once daily pill that combines finasteride and tadalafil for the treatment of benign prostatic hyperplasia; and Proclarix, an in vitro protein-based blood diagnostic test for prostate cancer. The company was formerly known as Blue Water Biotech, Inc and changed its name to Onconetix, Inc in December 2023. Onconetix, Inc was incorporated in 2018 and is headquartered in Cincinnati, Ohio.