Onconetix (NASDAQ:ONCO) Shares Down 7.4% – Here’s Why

Onconetix, Inc. (NASDAQ:ONCO) fell 7.4% on Tuesday . The stock traded as low as $0.49 and last traded at $0.50. 343,130 shares traded hands during trading, a decline of 96% from the average session volume of 8,369,175 shares. The stock had previously closed at $0.54.

Onconetix Trading Down 7.4 %

The company has a 50-day moving average price of $0.53 and a two-hundred day moving average price of $2.73.

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

Hedge Funds Weigh In On Onconetix

A number of large investors have recently bought and sold shares of the business. Millennium Management LLC purchased a new position in Onconetix during the 4th quarter valued at $25,000. Geode Capital Management LLC purchased a new position in Onconetix during the 4th quarter valued at $35,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Onconetix by 83.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 562,691 shares of the company’s stock valued at $2,926,000 after acquiring an additional 256,612 shares during the period. Hedge funds and other 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.