Onconetix, Inc. (NASDAQ:ONCO) Short Interest Up 35.1% in January

Onconetix, Inc. (NASDAQ:ONCO) was the recipient of a large increase in short interest during the month of January. As of January 15th, there was short interest totaling 124,512 shares, an increase of 35.1% from the December 31st total of 92,196 shares. Based on an average daily volume of 47,680 shares, the days-to-cover ratio is currently 2.6 days. Currently, 8.1% of the shares of the company are short sold. Currently, 8.1% of the shares of the company are short sold. Based on an average daily volume of 47,680 shares, the days-to-cover ratio is currently 2.6 days.

Institutional Investors Weigh In On Onconetix

An institutional investor recently bought a new position in Onconetix stock. Citadel Advisors LLC acquired a new stake in Onconetix, Inc. (NASDAQ:ONCO) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 15,633 shares of the company’s stock, valued at approximately $49,000. Citadel Advisors LLC owned approximately 1.00% of Onconetix at the end of the most recent reporting period. Institutional investors own 23.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Onconetix in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Onconetix Stock Performance

Onconetix stock traded down $0.01 during midday trading on Monday, reaching $1.41. The company’s stock had a trading volume of 27,057 shares, compared to its average volume of 133,403. The firm has a market capitalization of $2.19 million, a PE ratio of 0.13 and a beta of 3.45. Onconetix has a fifty-two week low of $1.31 and a fifty-two week high of $59.50. The stock’s 50 day simple moving average is $1.91 and its 200 day simple moving average is $2.71.

Onconetix (NASDAQ:ONCO) last announced its quarterly earnings results on Thursday, November 13th. The company reported ($6.25) earnings per share (EPS) for the quarter. The company had revenue of $0.30 million during the quarter. Onconetix had a negative net margin of 4,011.43% and a negative return on equity of 632.63%.

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.