Onconetix (NASDAQ:ONCO) Trading Up 8.5% – Here’s Why

Onconetix, Inc. (NASDAQ:ONCO)’s stock price shot up 8.5% during mid-day trading on Monday . The stock traded as high as $2.94 and last traded at $2.80. 27,315 shares changed hands during trading, a decline of 11% from the average session volume of 30,605 shares. The stock had previously closed at $2.58.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Onconetix in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus rating of “Sell”.

Onconetix Trading Up 8.5%

The stock has a 50 day simple moving average of $3.03 and a 200-day simple moving average of $3.65. The firm has a market cap of $4.37 million, a PE ratio of 0.26 and a beta of 3.42.

Onconetix (NASDAQ:ONCO) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($6.25) earnings per share (EPS) for the quarter. The company had revenue of $0.30 million for the quarter. Onconetix had a negative net margin of 4,011.43% and a negative return on equity of 632.63%.

Institutional Trading of Onconetix

A hedge fund recently bought a new stake in Onconetix stock. Pacific Capital Wealth Advisors Inc. bought a new position in Onconetix, Inc. (NASDAQ:ONCO) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 13,000 shares of the company’s stock, valued at approximately $40,000. Pacific Capital Wealth Advisors Inc. owned about 0.84% of Onconetix at the end of the most recent quarter. Institutional investors and hedge funds own 23.89% of the company’s stock.

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.