Onconetix, Inc. (NASDAQ:ONCO) Short Interest Up 230.7% in June

Onconetix, Inc. (NASDAQ:ONCO) saw a large increase in short interest in the month of June. As of June 30th, there was short interest totaling 61,615 shares, an increase of 230.7% from the June 15th total of 18,630 shares. Currently, 5.4% of the company’s shares are sold short. Based on an average daily trading volume, of 1,078,344 shares, the short-interest ratio is currently 0.1 days.

Onconetix Stock Performance

Onconetix stock opened at $0.94 on Monday. The stock has a 50-day moving average of $1.89 and a two-hundred day moving average of $30.13. Onconetix has a one year low of $0.88 and a one year high of $270.00. The stock has a market cap of $1.07 million, a PE ratio of 0.08 and a beta of 2.69.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Weiss Ratings lowered shares of Onconetix from a “sell (e+)” rating to a “sell (e)” rating in a research note on Monday, June 29th. Wall Street Zen lowered shares of Onconetix from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Insider Activity

In related news, major shareholder Financial Lp Hrt sold 4,971 shares of the stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $6.90, for a total value of $34,299.90. Following the transaction, the insider owned 3,364 shares of the company’s stock, valued at $23,211.60. This represents a 59.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders purchased 20,153 shares of company stock valued at $152,867 and sold 19,803 shares valued at $144,463. Insiders own 0.27% of the company’s stock.

Institutional Trading of Onconetix

A hedge fund recently bought a new stake 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 Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 15,633 shares of the company’s stock, valued at approximately $49,000. Citadel Advisors LLC owned about 1.00% of Onconetix at the end of the most recent reporting period. Hedge funds and other institutional investors own 23.89% of the company’s stock.

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.