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

Onconetix, Inc. (NASDAQ:ONCO) was the target of a significant increase in short interest in the month of April. As of April 30th, there was short interest totaling 522,813 shares, an increase of 128.4% from the April 15th total of 228,855 shares. Based on an average daily volume of 10,283,651 shares, the short-interest ratio is presently 0.1 days. Currently, 79.9% of the company’s shares are short sold.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ONCO shares. Weiss Ratings raised Onconetix from a “sell (e)” rating to a “sell (e+)” rating in a research report on Friday, May 8th. Wall Street Zen raised Onconetix to a “hold” rating in a research report on Saturday, May 2nd. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

Insiders Place Their Bets

In other Onconetix news, major shareholder Financial Lp Hrt sold 49,710 shares of the stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $0.69, for a total value of $34,299.90. Following the sale, the insider owned 33,649 shares in the company, valued at $23,217.81. This trade represents a 59.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders acquired 201,540 shares of company stock valued at $152,875 and sold 198,039 shares valued at $144,469. 0.27% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Onconetix

An institutional investor recently bought a new position in Onconetix stock. Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of Onconetix, Inc. (NASDAQ:ONCO) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 13,000 shares of the company’s stock, valued at approximately $40,000. Pacific Capital Wealth Advisors Inc. owned approximately 0.84% of Onconetix at the end of the most recent reporting period. 23.89% of the stock is owned by hedge funds and other institutional investors.

Onconetix Trading Down 4.1%

Shares of ONCO traded down $0.02 during midday trading on Friday, reaching $0.37. 439,913 shares of the stock were exchanged, compared to its average volume of 6,214,838. Onconetix has a 52 week low of $0.36 and a 52 week high of $53.55. The company’s 50 day moving average is $1.50 and its two-hundred day moving average is $6.65. The company has a market capitalization of $246,840.00, a P/E ratio of 0.33 and a beta of 3.01.

Onconetix (NASDAQ:ONCO) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($6.71) earnings per share (EPS) for the quarter. Onconetix had a negative return on equity of 101.08% and a negative net margin of 1,316.28%.The firm had revenue of $0.02 million for the quarter.

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.