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

Onconetix, Inc. (NASDAQ:ONCO) was the recipient of a large growth in short interest during 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 company are short sold. Based on an average daily volume of 47,680 shares, the days-to-cover ratio is currently 2.6 days. Based on an average daily volume of 47,680 shares, the days-to-cover ratio is currently 2.6 days. Approximately 8.1% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

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

Onconetix Trading Down 1.4%

Shares of NASDAQ:ONCO opened at $1.39 on Tuesday. Onconetix has a twelve month low of $1.31 and a twelve month high of $59.50. The company has a market capitalization of $2.15 million, a PE ratio of 0.13 and a beta of 3.45. The firm has a 50 day simple moving average of $1.89 and a 200-day simple moving average of $2.69.

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

Institutional Investors Weigh In On Onconetix

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