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

Onconetix, Inc. (NASDAQ:ONCO) was the target of a large 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. Approximately 6.0% of the company’s shares are sold short. Based on an average daily trading volume, of 63,054 shares, the short-interest ratio is currently 1.5 days. Based on an average daily trading volume, of 63,054 shares, the short-interest ratio is currently 1.5 days. Approximately 6.0% of the company’s shares are sold short.

Onconetix Stock Up 0.9%

Shares of ONCO stock traded up $0.02 during mid-day trading on Monday, reaching $1.63. The company’s stock had a trading volume of 13,158 shares, compared to its average volume of 47,736. The firm has a market capitalization of $2.52 million, a PE ratio of 0.15 and a beta of 3.45. The company’s 50 day simple moving average is $2.10 and its 200-day simple moving average is $2.91. Onconetix has a 12-month low of $1.37 and a 12-month high of $88.40.

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

Institutional Investors Weigh In On Onconetix

A hedge fund recently bought a new stake in Onconetix stock. Citadel Advisors LLC acquired 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. The institutional investor 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 reporting period. Institutional investors and hedge funds own 23.89% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.