Onconetix, Inc. (NASDAQ:ONCO) Sees Large Decrease in Short Interest

Onconetix, Inc. (NASDAQ:ONCO) saw a significant decrease in short interest in the month of April. As of April 15th, there was short interest totaling 228,855 shares, a decrease of 66.3% from the March 31st total of 680,001 shares. Based on an average daily trading volume, of 26,772,767 shares, the short-interest ratio is presently 0.0 days. Approximately 35.0% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut Onconetix from a “sell (e+)” rating to a “sell (e)” rating in a research note on Friday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

Insider Activity at Onconetix

In related news, major shareholder Financial Lp Hrt sold 94,462 shares of the business’s stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $0.75, for a total value of $70,846.50. Following the transaction, the insider owned 83,359 shares in the company, valued at approximately $62,519.25. The trade was a 53.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last 90 days, insiders bought 201,540 shares of company stock valued at $152,875 and sold 198,039 shares valued at $144,469. Company insiders own 0.27% of the company’s stock.

Institutional Trading of Onconetix

An institutional investor recently bought a new position in Onconetix stock. Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of Onconetix, Inc. (NASDAQ:ONCO) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 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 SEC filing. Institutional investors own 23.89% of the company’s stock.

Onconetix Trading Down 11.8%

NASDAQ ONCO traded down $0.08 on Friday, hitting $0.59. 1,263,337 shares of the stock traded hands, compared to its average volume of 17,789,620. The stock has a 50-day moving average of $2.29 and a 200 day moving average of $8.24. Onconetix has a twelve month low of $0.57 and a twelve month high of $74.29. The company has a market capitalization of $385,400.00, a P/E ratio of 0.00 and a beta of 3.63.

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.