Insider Buying: Onconetix (NASDAQ:ONCO) Major Shareholder Buys 74,350 Shares of Stock

Onconetix, Inc. (NASDAQ:ONCO) major shareholder Financial Lp Hrt bought 74,350 shares of the company’s stock in a transaction on Tuesday, April 14th. The shares were acquired at an average price of $0.77 per share, with a total value of $57,249.50. Following the completion of the acquisition, the insider directly owned 104,498 shares in the company, valued at $80,463.46. This represents a 246.62% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Financial Lp Hrt also recently made the following trade(s):

• On Wednesday, April 15th, Financial Lp Hrt bought 92,554 shares of Onconetix stock. The shares were acquired at an average price of $0.76 per share, with a total value of $70,341.04.

Onconetix Stock Performance

NASDAQ:ONCO traded down $0.01 during mid-day trading on Thursday, hitting $0.76. 1,640,803 shares of the company’s stock traded hands, compared to its average volume of 4,878,667. The firm’s 50 day simple moving average is $3.07 and its 200 day simple moving average is $8.97. Onconetix, Inc. has a 1 year low of $0.67 and a 1 year high of $74.29. The company has a market cap of $498,300.00, a PE ratio of 0.00 and a beta of 3.63.

Hedge Funds Weigh In On Onconetix

A hedge fund recently bought a new stake in Onconetix stock. Pacific Capital Wealth Advisors Inc. bought a new stake in shares of Onconetix, Inc. (NASDAQ:ONCO) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 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 quarter. Institutional investors and hedge funds own 23.89% of the company’s stock.

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.