Onconetix (NASDAQ:ONCO) Major Shareholder Sells $39,322.91 in Stock

Onconetix, Inc. (NASDAQ:ONCO) major shareholder Financial Lp Hrt sold 53,867 shares of the company’s stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $0.73, for a total value of $39,322.91. Following the completion of the sale, the insider directly owned 143,185 shares of the company’s stock, valued at approximately $104,525.05. This trade represents a 27.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Financial Lp Hrt also recently made the following trade(s):

• On Monday, April 20th, Financial Lp Hrt sold 94,462 shares of Onconetix stock. The shares were sold at an average price of $0.75, for a total value of $70,846.50.
• On Friday, April 17th, Financial Lp Hrt purchased 34,636 shares of Onconetix stock. The shares were bought at an average cost of $0.73 per share, with a total value of $25,284.28.
• On Wednesday, April 15th, Financial Lp Hrt acquired 92,554 shares of Onconetix stock. The stock was purchased at an average price of $0.76 per share, for a total transaction of $70,341.04.
• On Tuesday, April 14th, Financial Lp Hrt acquired 74,350 shares of Onconetix stock. The stock was purchased at an average price of $0.77 per share, for a total transaction of $57,249.50.

Onconetix Stock Performance

ONCO traded down $0.06 during trading on Tuesday, hitting $0.68. The stock had a trading volume of 1,447,454 shares, compared to its average volume of 4,767,000. The firm has a market capitalization of $446,688.00, a P/E ratio of 0.00 and a beta of 3.63. The company’s 50-day moving average price is $2.76 and its 200 day moving average price is $8.61. Onconetix, Inc. has a twelve month low of $0.66 and a twelve month high of $74.29.

Hedge Funds Weigh In On Onconetix

A hedge fund recently bought a new stake in Onconetix stock. Citadel Advisors LLC acquired a new stake in Onconetix, Inc. (NASDAQ:ONCO) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 15,633 shares of the company’s stock, valued at approximately $49,000. Citadel Advisors LLC owned 1.00% of Onconetix as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 23.89% of the company’s stock.

About Onconetix

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.