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

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Weiss Ratings upgraded shares of Onconetix from a “sell (e)” rating to a “sell (e+)” rating in a research note on Thursday, September 24th. Wall Street Zen upgraded shares of Onconetix from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the company has a consensus rating of “Sell”.

Onconetix Stock Down 4.6%

ONCO traded down $0.03 on Tuesday, hitting $0.56. 190,294 shares of the company traded hands, compared to its average volume of 1,455,804. Onconetix has a 12-month low of $0.54 and a 12-month high of $200.00. The company has a 50 day moving average of $0.76 and a 200-day moving average of $3.44. The stock has a market capitalization of $2.95 million, a PE ratio of 0.00 and a beta of 2.61.

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

Onconetix Company Profile

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.