Onconetix, Inc. (NASDAQ:ONCO) Sees Significant Increase in Short Interest

Onconetix, Inc. (NASDAQ:ONCO) saw a significant increase in short interest in the month of February. As of February 13th, there was short interest totaling 158,751 shares, an increase of 48.1% from the January 29th total of 107,197 shares. Based on an average daily volume of 715,859 shares, the days-to-cover ratio is presently 0.2 days. Approximately 10.3% of the shares of the company are sold short. Approximately 10.3% of the shares of the company are sold short. Based on an average daily volume of 715,859 shares, the days-to-cover ratio is presently 0.2 days.

Onconetix Price Performance

Shares of NASDAQ ONCO traded up $0.01 during trading hours on Friday, hitting $0.67. 37,167 shares of the stock were exchanged, compared to its average volume of 453,795. The company’s 50 day moving average is $1.35 and its 200 day moving average is $2.38. The firm has a market capitalization of $1.04 million, a P/E ratio of 0.06 and a beta of 3.45. Onconetix has a one year low of $0.62 and a one year high of $25.50.

Institutional Investors Weigh In On Onconetix

A hedge fund recently bought a new stake in Onconetix stock. Citadel Advisors LLC acquired a new position in Onconetix, Inc. (NASDAQ:ONCO) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 15,633 shares of the company’s stock, valued at approximately $49,000. Citadel Advisors LLC owned 1.00% of Onconetix as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors 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.