Short Interest in Onconetix, Inc. (NASDAQ:ONCO) Expands By 586.4%

Onconetix, Inc. (NASDAQ:ONCO) was the target of a large growth in short interest in March. As of March 13th, there was short interest totaling 260,259 shares, a growth of 586.4% from the February 26th total of 37,915 shares. Approximately 7.3% of the company’s stock are short sold. Based on an average trading volume of 727,004 shares, the days-to-cover ratio is currently 0.4 days. Based on an average trading volume of 727,004 shares, the days-to-cover ratio is currently 0.4 days. Approximately 7.3% of the company’s stock are short sold.

Onconetix Trading Down 4.7%

Shares of NASDAQ:ONCO traded down $0.03 on Tuesday, reaching $0.57. The company had a trading volume of 451,805 shares, compared to its average volume of 412,051. The firm has a market capitalization of $2.05 million, a PE ratio of -0.01 and a beta of 3.51. Onconetix has a 52-week low of $0.44 and a 52-week high of $14.86. The firm’s 50 day simple moving average is $1.01 and its 200-day simple moving average is $2.09.

Onconetix’s stock is scheduled to reverse split on Wednesday, March 25th. The 1-5 reverse split was announced on Monday, March 23rd. The number of shares owned by shareholders will be adjusted after the closing bell on Tuesday, March 24th.

Onconetix (NASDAQ:ONCO) last issued its quarterly earnings data on Friday, March 13th. The company reported $12.58 earnings per share for the quarter. Onconetix had a positive return on equity of 8.24% and a negative net margin of 1,717.50%.The company had revenue of $0.30 million for the quarter.

Institutional Trading of Onconetix

An institutional investor recently bought a new position in Onconetix stock. Pacific Capital Wealth Advisors Inc. purchased a new stake in Onconetix, Inc. (NASDAQ:ONCO) during the third quarter, according to its most recent 13F filing with the SEC. The firm purchased 13,000 shares of the company’s stock, valued at approximately $40,000. Pacific Capital Wealth Advisors Inc. owned approximately 0.84% of Onconetix as of its most recent filing with the SEC. 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.