Onconetix, Inc. (NASDAQ:ONCO) Short Interest Update

Onconetix, Inc. (NASDAQ:ONCO) saw a large growth in short interest in July. As of July 31st, there was short interest totaling 196,172 shares, a growth of 60.5% from the July 15th total of 122,244 shares. Based on an average daily trading volume, of 360,996 shares, the days-to-cover ratio is currently 0.5 days. Approximately 17.3% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Wall Street Zen raised shares of Onconetix from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings lowered shares of Onconetix from a “sell (e+)” rating to a “sell (e)” rating in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

Onconetix Price Performance

Shares of ONCO stock traded down $0.06 during mid-day trading on Monday, hitting $0.75. The stock had a trading volume of 143,344 shares, compared to its average volume of 677,180. Onconetix has a 12-month low of $0.67 and a 12-month high of $209.50. The firm’s 50-day moving average is $0.93 and its two-hundred day moving average is $16.16. The firm has a market capitalization of $860,472.00, a P/E ratio of 0.00 and a beta of 2.69.

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

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Onconetix stock. Citadel Advisors LLC bought a new stake in shares of Onconetix, Inc. (NASDAQ:ONCO) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 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 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.