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

Onconetix, Inc. (NASDAQ:ONCO) was the target of a large drop in short interest in February. As of February 15th, there was short interest totalling 193,900 shares, a drop of 85.4% from the January 31st total of 1,330,000 shares. Based on an average daily volume of 8,480,000 shares, the days-to-cover ratio is presently 0.0 days. Currently, 3.6% of the company’s stock are short sold.

Onconetix Stock Down 4.1 %

Onconetix stock traded down $0.01 during trading hours on Thursday, hitting $0.31. The stock had a trading volume of 582,503 shares, compared to its average volume of 6,935,504. The stock’s 50-day moving average price is $0.53 and its 200-day moving average price is $2.54. Onconetix has a 12-month low of $0.30 and a 12-month high of $21.40.

Onconetix (NASDAQ:ONCO) last announced its quarterly earnings data on Monday, December 9th. The company reported ($2.24) earnings per share for the quarter.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Onconetix by 83.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 562,691 shares of the company’s stock worth $2,926,000 after buying an additional 256,612 shares in the last quarter. Geode Capital Management LLC purchased a new stake in shares of Onconetix during the 4th quarter valued at about $35,000. Finally, Millennium Management LLC bought a new stake in shares of Onconetix in the fourth quarter worth approximately $25,000. 23.89% of the stock is owned by institutional investors.

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.