The Week Ahead: Are Investors Really Too Optimistic About Onconetix Inc (NASDAQ: ONCO)

Onconetix Inc (NASDAQ:ONCO) currently has a daily average trading volume of 8.72M but it saw 6732069 shares traded in last market. With a market cap of 3.08M USD, the company’s current market price of $0.07 came falling about -0.14 while comparing to the previous closing price of $0.07. In past 52 weeks, the stock remained buoying in the range of price level as high as $21.40 and as low as $0.05.

Taking a look at 20-day trading activity of Onconetix Inc (ONCO) gives us an average price of $0.0670, while its current price level is -99.68% below from 52-week high level whereas it is 38.05% above from lowest level seen by the stock during that period. Simple moving average of 50 days or SMA-50 of the stock’s closing price is $0.1169 while that of 200 days or SMA-200 reads an average of $2.2540. A closer look into the stock’s movement over the week reveals that its volatility is standing at 14.46% during that period while stretching the period over a month that increases to 21.82%. It is also necessary to take a look into other indicators of a stock too, to get a better idea about its price movement. And in doing so, we find stock’s 14-day relative strength index (RSI) standing at 35.69 which implies that the stock is in neutral territory.

Over the week, ONCO’s stock price is moving -5.20% down while it is -3.75% when we observe its performance for the past one month. Year-to-date it is -89.00% down and over the past year, the stock is showing a downside performance of -98.60%.

Currently, Onconetix Inc’s total number of outstanding shares is 44.36M with 11.62% of that held by the insiders while 0.88% of its common stock has been owned by the institutions. Company’s return on investment (ROI) stands at -151.50% and return on equity (ROE) at -233.77%. Stock’s beta reads 3.49. Stock has a price to book (P/B) ratio of 0.02 while price to sale or P/S ratio amounts to 1.64. Its return on asset (ROA) is -114.93% on average.