Onconetix, Inc. (NASDAQ:ONCO) Short Interest Down 13.9% in January

Onconetix, Inc. (NASDAQ:ONCO) was the target of a large 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. Based on an average trading volume of 212,934 shares, the days-to-cover ratio is currently 0.5 days. Approximately 7.0% of the company’s shares are short sold. Approximately 7.0% of the company’s shares are short sold. Based on an average trading volume of 212,934 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Onconetix stock. Citadel Advisors LLC bought a new stake in Onconetix, Inc. (NASDAQ:ONCO) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 15,633 shares of the company’s stock, valued at approximately $49,000. Citadel Advisors LLC owned 1.00% of Onconetix as of its most recent SEC filing. 23.89% of the stock is owned by institutional investors and hedge funds.

Onconetix Price Performance

Shares of ONCO traded up $0.02 during mid-day trading on Tuesday, reaching $0.80. The stock had a trading volume of 214,599 shares, compared to its average volume of 343,825. Onconetix has a 52-week low of $0.62 and a 52-week high of $46.10. The firm has a market cap of $1.23 million, a price-to-earnings ratio of 0.07 and a beta of 3.45. The business’s fifty day moving average is $1.62 and its 200 day moving average is $2.52.

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.