Short Interest in Onconetix, Inc. (NASDAQ:ONCO) Increases By 252.7%

Onconetix, Inc. (NASDAQ:ONCO) was the target of a significant growth in short interest during the month of 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. Currently, 7.9% of the shares of the stock are sold short. Based on an average daily volume of 9,570,000 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Investors Weigh In On Onconetix

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ONCO. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of 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 purchasing an additional 256,612 shares during the period. Geode Capital Management LLC purchased a new position in Onconetix during the fourth quarter worth $35,000. Finally, Millennium Management LLC bought a new position in Onconetix during the fourth quarter valued at $25,000. 23.89% of the stock is currently owned by hedge funds and other institutional investors.

Onconetix Stock Performance

Shares of Onconetix stock traded down $0.02 during trading hours on Friday, reaching $0.09. The company’s stock had a trading volume of 7,997,680 shares, compared to its average volume of 3,173,100. The firm has a 50 day moving average price of $0.38 and a 200-day moving average price of $1.75. Onconetix has a one year low of $0.08 and a one year high of $21.40.

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.