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

Onconetix, Inc. (NASDAQ:ONCO) saw a large increase in short interest in January. As of January 15th, there was short interest totaling 124,512 shares, an increase of 35.1% from the December 31st total of 92,196 shares. Based on an average daily trading volume, of 47,680 shares, the short-interest ratio is currently 2.6 days. Currently, 8.1% of the shares of the stock are sold short. Currently, 8.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 47,680 shares, the short-interest ratio is currently 2.6 days.

Onconetix Stock Down 4.7%

Shares of NASDAQ ONCO traded down $0.07 during midday trading on Friday, hitting $1.42. The stock had a trading volume of 56,183 shares, compared to its average volume of 135,918. Onconetix has a 1 year low of $1.31 and a 1 year high of $59.50. The company has a market capitalization of $2.20 million, a PE ratio of 0.13 and a beta of 3.45. The stock has a 50 day simple moving average of $1.91 and a 200-day simple moving average of $2.71.

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Onconetix in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Institutional Trading of Onconetix

An institutional investor recently bought a new position in Onconetix stock. Pacific Capital Wealth Advisors Inc. acquired a new position in Onconetix, Inc. (NASDAQ:ONCO) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 13,000 shares of the company’s stock, valued at approximately $40,000. Pacific Capital Wealth Advisors Inc. owned about 0.84% of Onconetix at the end of the most recent quarter. Institutional investors 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.