Onconetix, Inc. (NASDAQ:ONCO) Sees Significant Increase in Short Interest

Onconetix, Inc. (NASDAQ:ONCO) was the target of a large increase in short interest during the month of February. As of February 13th, there was short interest totaling 158,751 shares, an increase of 48.1% from the January 29th total of 107,197 shares. Based on an average daily volume of 715,859 shares, the short-interest ratio is presently 0.2 days. Approximately 10.3% of the company’s stock are short sold. Approximately 10.3% of the company’s stock are short sold. Based on an average daily volume of 715,859 shares, the short-interest ratio is presently 0.2 days.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Onconetix stock. Citadel Advisors LLC bought a new position in Onconetix, Inc. (NASDAQ:ONCO) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 15,633 shares of the company’s stock, valued at approximately $49,000. Citadel Advisors LLC owned about 1.00% of Onconetix as of its most recent filing with the Securities and Exchange Commission. 23.89% of the stock is currently owned by institutional investors.

Onconetix Price Performance

NASDAQ:ONCO traded up $0.01 during trading hours on Friday, reaching $0.67. The company’s stock had a trading volume of 37,167 shares, compared to its average volume of 453,795. The company has a market cap of $1.04 million, a price-to-earnings ratio of 0.06 and a beta of 3.45. Onconetix has a one year low of $0.62 and a one year high of $25.50. The business’s 50-day moving average is $1.35 and its 200-day moving average is $2.38.

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.