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

Onconetix, Inc. (NASDAQ:ONCO) was the target of a large growth in short interest in March. As of March 15th, there was short interest totalling 738,300 shares, a growth of 252.7% from the February 28th total of 209,300 shares. Based on an average trading volume of 9,570,000 shares, the days-to-cover ratio is presently 0.1 days. Approximately 7.9% of the company’s stock are short sold.

Onconetix Stock Up 7.3 %

Shares of NASDAQ ONCO opened at $0.11 on Thursday. The company has a fifty day moving average price of $0.39 and a 200 day moving average price of $1.76. Onconetix has a 1-year low of $0.09 and a 1-year high of $21.40.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Onconetix by 83.8% in 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 in the last quarter. Geode Capital Management LLC acquired a new stake in shares of Onconetix in the fourth quarter valued at approximately $35,000. Finally, Millennium Management LLC bought a new stake in shares of Onconetix in the fourth quarter worth $25,000. 23.89% of the stock is currently 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.