Onconetix, Inc. (NASDAQ:ONCO) Short Interest Up 98.4% in July

Onconetix, Inc. (NASDAQ:ONCO) was the recipient of a significant increase in short interest in July. As of July 15th, there was short interest totaling 122,244 shares, an increase of 98.4% from the June 30th total of 61,615 shares. Currently, 10.8% of the shares of the stock are short sold. Based on an average trading volume of 1,025,036 shares, the days-to-cover ratio is currently 0.1 days.

Analyst Ratings Changes

ONCO has been the topic of a number of research analyst reports. Wall Street Zen downgraded shares of Onconetix from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. Weiss Ratings upgraded shares of Onconetix from a “sell (e)” rating to a “sell (e+)” rating in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Onconetix Stock Down 9.7%

Onconetix stock traded down $0.08 during trading hours on Wednesday, hitting $0.75. The stock had a trading volume of 1,121,313 shares, compared to its average volume of 718,646. The business’s 50 day simple moving average is $1.00 and its 200-day simple moving average is $22.97. Onconetix has a one year low of $0.71 and a one year high of $229.50. The stock has a market cap of $854,202.00, a price-to-earnings ratio of 0.07 and a beta of 2.69.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Onconetix stock. Citadel Advisors LLC bought a new position in shares of Onconetix, Inc. (NASDAQ:ONCO) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 15,633 shares of the company’s stock, valued at approximately $49,000. Citadel Advisors LLC owned about 1.00% of Onconetix at the end of the most recent reporting period. 23.89% of the stock is 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.