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

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ONCO shares. Weiss Ratings upgraded shares of Onconetix from a “sell (e)” rating to a “sell (e+)” rating in a report on Thursday, June 11th. Wall Street Zen lowered shares of Onconetix from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Onconetix presently has a consensus rating of “Sell”.

Onconetix Trading Down 2.3%

NASDAQ:ONCO traded down $0.02 during trading hours on Monday, hitting $0.95. The stock had a trading volume of 118,988 shares, compared to its average volume of 692,882. The business has a 50 day simple moving average of $2.99 and a two-hundred day simple moving average of $36.99. Onconetix has a 1-year low of $0.88 and a 1-year high of $270.00. The company has a market cap of $1.09 million, a PE ratio of 0.08 and a beta of 2.73.

Insider Buying and Selling

In other news, major shareholder Financial Lp Hrt sold 4,971 shares of the stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $6.90, for a total value of $34,299.90. Following the completion of the transaction, the insider owned 3,364 shares in the company, valued at $23,211.60. This trade represents a 59.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders have bought 20,153 shares of company stock valued at $152,867 and have sold 19,803 shares valued at $144,463. 0.27% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Onconetix

An institutional investor recently bought a new stake in Onconetix stock. Citadel Advisors LLC purchased a new position in shares of Onconetix, Inc. (NASDAQ:ONCO) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 15,633 shares of the company’s stock, valued at approximately $49,000. Citadel Advisors LLC owned 1.00% of Onconetix at the end of the most recent quarter. 23.89% of the stock is currently owned by institutional investors and hedge funds.

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.