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

Onconetix, Inc. (NASDAQ:ONCO) saw a significant drop in short interest during the month of January. As of January 30th, there was short interest totaling 107,197 shares, a drop of 13.9% from the January 15th total of 124,512 shares. Currently, 7.0% of the shares of the company are sold short. Based on an average trading volume of 212,934 shares, the days-to-cover ratio is currently 0.5 days. Based on an average trading volume of 212,934 shares, the days-to-cover ratio is currently 0.5 days. Currently, 7.0% of the shares of the company are sold short.

Onconetix Price Performance

Shares of Onconetix stock traded down $0.06 during trading hours on Wednesday, hitting $0.73. 387,993 shares of the company’s stock traded hands, compared to its average volume of 347,364. The company has a fifty day simple moving average of $1.58 and a 200-day simple moving average of $2.50. The stock has a market capitalization of $1.13 million, a price-to-earnings ratio of 0.07 and a beta of 3.45. Onconetix has a 12-month low of $0.62 and a 12-month high of $41.23.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Onconetix stock. Pacific Capital Wealth Advisors Inc. purchased a new position in shares of Onconetix, Inc. (NASDAQ:ONCO) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 13,000 shares of the company’s stock, valued at approximately $40,000. Pacific Capital Wealth Advisors Inc. owned about 0.84% of Onconetix as of its most recent SEC filing. 23.89% of the stock is owned by institutional investors.

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.