Onconetix, Inc. (NASDAQ:ONCO) Short Interest Up 37.7% in December

Onconetix, Inc. (NASDAQ:ONCO) saw a significant increase in short interest during the month of December. As of December 31st, there was short interest totaling 92,196 shares, an increase of 37.7% from the December 15th total of 66,955 shares. Based on an average daily trading volume, of 63,054 shares, the days-to-cover ratio is presently 1.5 days. Approximately 6.0% of the company’s stock are short sold. Approximately 6.0% of the company’s stock are short sold. Based on an average daily trading volume, of 63,054 shares, the days-to-cover ratio is presently 1.5 days.

Onconetix Price Performance

Onconetix stock traded up $0.02 during trading hours on Friday, hitting $1.63. 13,158 shares of the stock traded hands, compared to its average volume of 47,736. The firm’s 50 day moving average price is $2.10 and its 200-day moving average price is $2.94. The stock has a market capitalization of $2.52 million, a price-to-earnings ratio of 0.15 and a beta of 3.45. Onconetix has a 1 year low of $1.37 and a 1 year high of $88.40.

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

Analyst Ratings Changes

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Onconetix stock. Pacific Capital Wealth Advisors Inc. purchased a new stake in Onconetix, Inc. (NASDAQ:ONCO) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 13,000 shares of the company’s stock, valued at approximately $40,000. Pacific Capital Wealth Advisors Inc. owned 0.84% of Onconetix at the end of the most recent quarter. Institutional investors and hedge funds own 23.89% of the company’s stock.

Onconetix Company Profile

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.