Onconetix, Inc. (NASDAQ:ONCO) Sees Significant Decline in Short Interest

Onconetix, Inc. (NASDAQ:ONCO) saw a large decrease in short interest in the month of February. As of February 27th, there was short interest totaling 37,915 shares, a decrease of 76.1% from the February 12th total of 158,751 shares. Based on an average daily trading volume, of 143,032 shares, the short-interest ratio is presently 0.3 days. Currently, 2.5% of the company’s shares are short sold. Currently, 2.5% of the company’s shares are short sold. Based on an average daily trading volume, of 143,032 shares, the short-interest ratio is presently 0.3 days.

Hedge Funds Weigh In On Onconetix

An institutional investor recently bought a new position in Onconetix stock. Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of Onconetix, Inc. (NASDAQ:ONCO) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 13,000 shares of the company’s stock, valued at approximately $40,000. Pacific Capital Wealth Advisors Inc. owned approximately 0.84% of Onconetix as of its most recent filing with the Securities & Exchange Commission. 23.89% of the stock is owned by institutional investors.

Onconetix Price Performance

Shares of NASDAQ:ONCO traded up $0.04 on Wednesday, hitting $0.62. 122,476 shares of the company’s stock were exchanged, compared to its average volume of 405,190. The stock has a market capitalization of $959,435.00, a price-to-earnings ratio of 0.06 and a beta of 3.51. Onconetix has a 12 month low of $0.44 and a 12 month high of $15.22. The business’s 50 day simple moving average is $1.22 and its two-hundred day simple moving average is $2.26.

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.