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

Shares of Onconetix, Inc. (NASDAQ:ONCO) are scheduled to reverse split on the morning of 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 ONCO traded down $0.03 during trading hours on Friday, reaching $0.08. 5,200,758 shares of the company traded hands, compared to its average volume of 6,247,411. The company’s fifty day moving average price is $0.14 and its two-hundred day moving average price is $0.15. The company has a current ratio of 0.10, a quick ratio of 0.09 and a debt-to-equity ratio of 0.08. Onconetix has a 12 month low of $0.08 and a 12 month high of $0.62.

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Onconetix stock. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Onconetix, Inc. (NASDAQ:ONCO) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 306,079 shares of the company’s stock, valued at approximately $51,000. Zurcher Kantonalbank Zurich Cantonalbank owned about 1.37% of Onconetix as of its most recent filing with the Securities & Exchange Commission. 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.