Onconetix Shares to Reverse Split on Tuesday, September 24th (NASDAQ:ONCO)

Onconetix, Inc. (NASDAQ:ONCO)’s stock is scheduled to reverse split on Tuesday, September 24th. The 1-40 reverse split was announced on Friday, September 20th. The number of shares owned by shareholders will be adjusted after the market closes on Monday, September 23rd.

Onconetix Trading Down 28.7 %

Shares of NASDAQ ONCO traded down $0.03 during mid-day trading on Friday, hitting $0.08. The company had a trading volume of 5,121,641 shares, compared to its average volume of 6,247,411. The business’s 50-day simple moving average is $0.14 and its 200 day simple moving average is $0.15. Onconetix has a 1-year low of $0.08 and a 1-year high of $0.62. The company has a quick ratio of 0.09, a current ratio of 0.10 and a debt-to-equity ratio of 0.08.

Onconetix (NASDAQ:ONCO) last posted its quarterly earnings results on Thursday, August 29th. The company reported ($0.23) earnings per share (EPS) for the quarter. The business had revenue of $0.71 million during the quarter.

Institutional Investors Weigh In On Onconetix

A hedge fund recently bought a new stake in Onconetix stock. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Onconetix, Inc. (NASDAQ:ONCO) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 306,079 shares of the company’s stock, valued at approximately $51,000. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 1.37% of Onconetix as of its most recent SEC filing. 23.89% of the stock is currently owned by hedge funds and other institutional investors.

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.