Onconetix, Inc. (NASDAQ:ONCO) Stock Short Interest Jumps 261.8%

Onconetix, Inc. (NASDAQ:ONCO) was the recipient of a significant increase in short interest during the month of September. As of September 30th, there was short interest totaling 489,621 shares, an increase of 261.8% from the September 15th total of 135,320 shares. Based on an average daily volume of 10,331,807 shares, the short-interest ratio is presently 0.0 days. Currently, 11.2% of the company’s shares are short sold.

Onconetix Price Performance

Shares of Onconetix stock traded down $0.03 during trading hours on Friday, hitting $0.62. The company had a trading volume of 1,058,382 shares, compared to its average volume of 8,318,602. The company’s 50-day moving average is $0.77 and its two-hundred day moving average is $3.64. Onconetix has a twelve month low of $0.58 and a twelve month high of $207.00. The company has a market cap of $3.25 million, a P/E ratio of 0.00 and a beta of 2.61.

Onconetix (NASDAQ:ONCO) last posted its earnings results on Thursday, August 13th. The company reported ($1.28) EPS for the quarter, topping analysts’ consensus estimates of ($4,505.00) by $4,503.72. Onconetix had a negative return on equity of 91.95% and a negative net margin of 1,575.89%. The business had revenue of $0.02 million for the quarter, compared to analysts’ expectations of $0.02 million.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ONCO. Weiss Ratings raised shares of Onconetix from a “sell (e)” rating to a “sell (e+)” rating in a research note on Thursday, September 24th. Wall Street Zen raised shares of Onconetix from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. One analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company currently has an average rating of “Sell”.

About Onconetix

Onconetix, Inc is a biotechnology company focused on developing and commercializing products for men’s health and oncology. The company’s activities center on therapies and diagnostic tools intended to address conditions affecting the prostate and related areas of healthcare.

Onconetix’s lead commercial product is ENTADFI, an oral prescription treatment for the signs and symptoms of benign prostatic hyperplasia (BPH), a noncancerous enlargement of the prostate. ENTADFI combines tadalafil and finasteride and is designed to provide both rapid symptom relief and longer-term reduction of prostate-related urinary symptoms.

The company also has interests in prostate cancer diagnostics, including Proclarix, a blood-based test intended to help assess the likelihood of clinically significant prostate cancer in men with elevated prostate-specific antigen levels.