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

Onconetix, Inc. (NASDAQ:ONCO) was the target of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 738,300 shares, an increase of 252.7% from the February 28th total of 209,300 shares. Currently, 7.9% of the shares of the company are sold short. Based on an average daily trading volume, of 9,570,000 shares, the short-interest ratio is currently 0.1 days.

Hedge Funds Weigh In On Onconetix

A number of large investors have recently made changes to their positions in ONCO. Zurcher Kantonalbank Zurich Cantonalbank boosted 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 purchasing an additional 256,612 shares during the period. Geode Capital Management LLC bought a new stake in shares of Onconetix in the fourth quarter valued at about $35,000. Finally, Millennium Management LLC acquired a new position in shares of Onconetix in the fourth quarter valued at about $25,000. Institutional investors own 23.89% of the company’s stock.

Onconetix Price Performance

Onconetix stock opened at $0.09 on Friday. Onconetix has a twelve month low of $0.09 and a twelve month high of $21.40. The company’s 50-day moving average price is $0.37 and its two-hundred day moving average price is $1.72.

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.