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

Onconetix, Inc. (NASDAQ:ONCO) was the target of a large growth in short interest during the month of 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. Approximately 17.3% of the company’s shares are short sold. Based on an average daily volume of 360,996 shares, the short-interest ratio is currently 0.5 days.

Onconetix Trading Down 4.7%

Shares of NASDAQ ONCO traded down $0.04 during midday trading on Wednesday, hitting $0.71. The company’s stock had a trading volume of 160,740 shares, compared to its average volume of 674,363. The business’s 50 day moving average is $0.92 and its two-hundred day moving average is $15.13. Onconetix has a 12-month low of $0.67 and a 12-month high of $209.50. The firm has a market cap of $815,100.00, a P/E ratio of 0.00 and a beta of 2.69.

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on ONCO. Weiss Ratings lowered Onconetix from a “sell (e+)” rating to a “sell (e)” rating in a report on Tuesday, August 11th. Wall Street Zen upgraded shares of Onconetix from a “sell” rating to a “hold” rating in a research report on Saturday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Onconetix stock. Citadel Advisors LLC bought a new position in Onconetix, Inc. (NASDAQ:ONCO) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 15,633 shares of the company’s stock, valued at approximately $49,000. Citadel Advisors LLC owned approximately 1.00% of Onconetix at the end of the most recent reporting period. 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.