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

Onconetix, Inc. (NASDAQ:ONCO) was the recipient of a significant decline in short interest in the month of June. As of June 15th, there was short interest totaling 18,630 shares, a decline of 64.1% from the May 31st total of 51,883 shares. Currently, 1.6% of the company’s shares are short sold. Based on an average daily volume of 372,124 shares, the short-interest ratio is currently 0.1 days.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Weiss Ratings raised shares of Onconetix from a “sell (e)” rating to a “sell (e+)” rating in a research report on Thursday, June 11th. Wall Street Zen lowered Onconetix from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock 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 position in Onconetix stock. Citadel Advisors LLC acquired a new position in Onconetix, Inc. (NASDAQ:ONCO) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. 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 quarter. Hedge funds and other institutional investors own 23.89% of the company’s stock.

Onconetix Trading Down 0.3%

Shares of ONCO stock opened at $0.98 on Friday. The stock has a 50 day moving average of $3.12 and a 200 day moving average of $37.97. Onconetix has a twelve month low of $0.88 and a twelve month high of $270.00. The stock has a market cap of $1.11 million, a P/E ratio of 0.09 and a beta of 2.72.

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.