Onconetix (NASDAQ:ONCO) Stock Price Up 4.2% – Time to Buy?

Onconetix, Inc. (NASDAQ:ONCO) rose 4.2% during trading on Thursday . The company traded as high as $0.13 and last traded at $0.13. Approximately 3,474,206 shares were traded during trading, an increase of 28% from the average daily volume of 2,706,624 shares. The stock had previously closed at $0.13.

Onconetix Stock Performance

The stock has a 50 day moving average price of $0.43 and a 200 day moving average price of $1.93.

Institutional Investors Weigh In On Onconetix

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ONCO. Zurcher Kantonalbank Zurich Cantonalbank raised 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 acquiring an additional 256,612 shares during the period. Geode Capital Management LLC bought a new stake in Onconetix in the 4th quarter valued at about $35,000. Finally, Millennium Management LLC bought a new stake in Onconetix in the 4th quarter valued at about $25,000. 23.89% of the stock is currently owned by 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.