Onconetix, Inc. (NASDAQ:ONCO) Stock Short Interest Rises 261.8%

Onconetix, Inc. (NASDAQ:ONCO) was the recipient of a large increase in short interest in the month of September. As of September 30th, there was short interest totaling 489,621 shares, an increase of 261.8% from the September 15th total of 135,320 shares. Based on an average trading volume of 10,331,807 shares, the short-interest ratio is presently 0.0 days. Approximately 11.2% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Wall Street Zen raised Onconetix from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Weiss Ratings raised shares of Onconetix from a “sell (e)” rating to a “sell (e+)” rating in a research report on Thursday, September 24th. One investment analyst has rated the stock with a Sell rating. According to MarketBeat, Onconetix currently has an average rating of “Sell”.

Onconetix Trading Down 4.8%

Shares of ONCO traded down $0.03 during trading hours on Monday, reaching $0.59. The stock had a trading volume of 778,861 shares, compared to its average volume of 8,363,735. The firm has a 50-day simple moving average of $0.76 and a 200 day simple moving average of $3.44. Onconetix has a 12 month low of $0.56 and a 12 month high of $200.00. The company has a market capitalization of $3.09 million, a price-to-earnings ratio of 0.00 and a beta of 2.61.

Onconetix (NASDAQ:ONCO) last released its quarterly earnings data on Thursday, August 13th. The company reported ($1.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($4,505.00) by $4,503.72. The firm had revenue of $0.02 million for the quarter, compared to analyst estimates of $0.02 million. Onconetix had a negative net margin of 1,575.89% and a negative return on equity of 91.95%.

Onconetix Company Profile

Onconetix, Inc is a biotechnology company focused on developing and commercializing products for men’s health and oncology. The company’s activities center on therapies and diagnostic tools intended to address conditions affecting the prostate and related areas of healthcare.

Onconetix’s lead commercial product is ENTADFI, an oral prescription treatment for the signs and symptoms of benign prostatic hyperplasia (BPH), a noncancerous enlargement of the prostate. ENTADFI combines tadalafil and finasteride and is designed to provide both rapid symptom relief and longer-term reduction of prostate-related urinary symptoms.

The company also has interests in prostate cancer diagnostics, including Proclarix, a blood-based test intended to help assess the likelihood of clinically significant prostate cancer in men with elevated prostate-specific antigen levels.