Onconetix (NASDAQ:ONCO) Stock Price Down 22.1% – What’s Next?

Onconetix, Inc. (NASDAQ:ONCO)’s stock price dropped 22.1% on Friday . The stock traded as low as $1.27 and last traded at $1.27. Approximately 53,879 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 317,751 shares. The stock had previously closed at $1.63.

Onconetix Stock Down 22.1 %

The firm’s 50 day moving average is $4.20 and its two-hundred day moving average is $5.43.

Onconetix (NASDAQ:ONCO) last released its earnings results on Thursday, August 29th. The company reported ($9.20) earnings per share for the quarter. The company had revenue of $0.71 million for the quarter.

Hedge Funds Weigh In On Onconetix

An institutional investor recently raised its position in Onconetix stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Onconetix, Inc. (NASDAQ:ONCO) by 83.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 562,691 shares of the company’s stock after purchasing an additional 256,612 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 76.04% of Onconetix worth $2,926,000 at the end of the most recent reporting period. 23.89% of the stock is owned by hedge funds and other 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.