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

Onconetix, Inc. (NASDAQ:ONCO) was the target of a large decrease in short interest in October. As of October 15th, there was short interest totalling 20,300 shares, a decrease of 94.6% from the September 30th total of 375,300 shares. Approximately 0.3% of the shares of the company are short sold. Based on an average daily trading volume, of 676,600 shares, the days-to-cover ratio is presently 0.0 days.

Institutional Investors Weigh In On Onconetix

A hedge fund recently bought a new stake in Onconetix stock. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Onconetix, Inc. (NASDAQ:ONCO) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 306,079 shares of the company’s stock, valued at approximately $51,000. Zurcher Kantonalbank Zurich Cantonalbank owned 1.37% of Onconetix at the end of the most recent reporting period. 23.89% of the stock is owned by hedge funds and other institutional investors.

Onconetix Stock Performance

ONCO stock traded down $0.18 on Friday, reaching $3.83. The company’s stock had a trading volume of 17,162 shares, compared to its average volume of 336,654. Onconetix has a 52 week low of $2.82 and a 52 week high of $21.40. The firm has a fifty day moving average of $5.17 and a two-hundred day moving average of $5.72.

Onconetix (NASDAQ:ONCO) last released its earnings results on Thursday, August 29th. The company reported ($9.20) earnings per share for the quarter. The business had revenue of $0.71 million during the quarter.

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.