Onconetix, Inc. (NASDAQ:ONCO) Short Interest Update
by Doug Wharley · The Cerbat GemOnconetix, Inc. (NASDAQ:ONCO – Get Free Report) saw a significant increase in short interest during the month of April. As of April 30th, there was short interest totaling 522,813 shares, an increase of 128.4% from the April 15th total of 228,855 shares. Approximately 79.9% of the company’s shares are short sold. Based on an average trading volume of 10,283,651 shares, the days-to-cover ratio is currently 0.1 days.
Analyst Upgrades and Downgrades
ONCO has been the subject of several recent research reports. Weiss Ratings upgraded shares of Onconetix from a “sell (e)” rating to a “sell (e+)” rating in a research report on Friday, May 8th. Wall Street Zen upgraded shares of Onconetix to a “hold” rating in a research report on Saturday, May 2nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.
View Our Latest Analysis on Onconetix
Onconetix Stock Performance
NASDAQ:ONCO traded down $0.02 during trading hours on Friday, hitting $0.37. The stock had a trading volume of 439,913 shares, compared to its average volume of 6,214,838. Onconetix has a one year low of $0.36 and a one year high of $53.55. The company has a market cap of $246,840.00, a price-to-earnings ratio of 0.33 and a beta of 3.01. The business’s 50 day moving average is $1.50 and its 200-day moving average is $6.65.
Onconetix (NASDAQ:ONCO – Get Free Report) last issued its earnings results on Wednesday, May 13th. The company reported ($6.71) EPS for the quarter. Onconetix had a negative net margin of 1,316.28% and a negative return on equity of 101.08%. The firm had revenue of $0.02 million during the quarter.
Insider Buying and Selling at Onconetix
In other news, major shareholder Financial Lp Hrt sold 49,710 shares of the business’s stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $0.69, for a total transaction of $34,299.90. Following the completion of the sale, the insider owned 33,649 shares in the company, valued at $23,217.81. The trade was a 59.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last ninety days, insiders acquired 201,540 shares of company stock worth $152,875 and sold 198,039 shares worth $144,469. 0.27% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Onconetix
An institutional investor recently bought a new position in Onconetix stock. Pacific Capital Wealth Advisors Inc. bought a new stake in Onconetix, Inc. (NASDAQ:ONCO – Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 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 filing with the Securities and Exchange Commission (SEC). Institutional investors own 23.89% of the company’s stock.
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.