Sabby Volatility Fund Discloses 9.99% Stake in Onconetix
Ticker: ONCO · Form: SC 13G/A · Filed: Jan 2, 2024 · CIK: 1782107
| Field | Detail |
|---|---|
| Company | Onconetix, INC. (ONCO) |
| Form Type | SC 13G/A |
| Filed Date | Jan 2, 2024 |
| Risk Level | low |
| Sentiment | bullish |
Complexity: simple
Sentiment: bullish
Topics: institutional-ownership, amendment, biotech
TL;DR
**Sabby Fund now owns 9.99% of Onconetix, a big institutional bet.**
AI Summary
Sabby Volatility Warrant Master Fund, Ltd. has updated its ownership stake in Onconetix, Inc. (formerly Blue Water Vaccines, Inc.) as of December 31, 2023. The fund now beneficially owns 930,905 shares of Onconetix's Common Stock, representing 9.99% of the company. This filing indicates a significant, but not controlling, institutional investment, which could signal confidence in Onconetix's future, potentially influencing other investors and the stock price.
Why It Matters
This filing shows a major institutional investor, Sabby Volatility Warrant Master Fund, Ltd., holds a substantial stake in Onconetix, which can be seen as a vote of confidence and may attract further investor interest.
Risk Assessment
Risk Level: low — This filing indicates a significant institutional investment, generally viewed as a positive signal rather than a risk.
Analyst Insight
A smart investor would view this as a positive signal, indicating institutional confidence in Onconetix, Inc., and might consider further research into the company's fundamentals and recent news to understand the rationale behind Sabby's investment.
Key Numbers
- 930,905 — Shares Beneficially Owned (This is the total number of Onconetix shares Sabby Volatility Warrant Master Fund, Ltd. now owns.)
- 9.99% — Percentage of Class Owned (This percentage indicates a significant, but not controlling, stake in Onconetix by Sabby Volatility Warrant Master Fund, Ltd.)
- December 31, 2023 — Date of Event (This is the effective date of the ownership change reported in the filing.)
Key Players & Entities
- Onconetix, Inc. (company) — the subject company of the filing, formerly Blue Water Vaccines, Inc.
- Sabby Volatility Warrant Master Fund, Ltd. (company) — the reporting person, an institutional investor
- Sabby Management, LLC (company) — the entity that filed on behalf of the reporting person
- Cayman Islands (company) — place of organization for Sabby Volatility Warrant Master Fund, Ltd.
- 930,905 (dollar_amount) — number of shares beneficially owned by Sabby Volatility Warrant Master Fund, Ltd.
- 9.99% (dollar_amount) — percentage of class beneficially owned by Sabby Volatility Warrant Master Fund, Ltd.
- December 31, 2023 (dollar_amount) — date of event requiring the filing
Forward-Looking Statements
- The significant stake by Sabby Volatility Warrant Master Fund, Ltd. could attract more institutional investors to Onconetix, Inc. (Onconetix, Inc.) — medium confidence, target: Within 6-12 months
- Onconetix, Inc.'s stock price may experience increased volatility due to the presence of a fund like Sabby Volatility Warrant Master Fund, Ltd. (Onconetix, Inc.) — medium confidence, target: Ongoing
FAQ
Who is the reporting person in this SC 13G/A filing?
The reporting person is Sabby Volatility Warrant Master Fund, Ltd., as stated in Item 1 of the cover page and the filing details.
What is the subject company of this filing, and what was its former name?
The subject company is Onconetix, Inc. It was formerly known as Blue Water Vaccines Inc. and Blue Water Biotech, Inc., with the latest name change to Onconetix, Inc. occurring on April 24, 2023, as per the 'FORMER COMPANY' section.
How many shares of Onconetix, Inc. Common Stock does Sabby Volatility Warrant Master Fund, Ltd. beneficially own?
Sabby Volatility Warrant Master Fund, Ltd. beneficially owns 930,905 shares of Onconetix, Inc. Common Stock, as indicated in Item 6 of the cover page ('SHARED VOTING POWER').
What percentage of Onconetix, Inc.'s Common Stock does the reporting person own?
The reporting person, Sabby Volatility Warrant Master Fund, Ltd., owns 9.99% of Onconetix, Inc.'s Common Stock, as stated in Item 9 of the cover page ('PERCENTAGE OF CLASS REPRESENTED BY AMOUNT IN ROW 9').
What was the date of the event that required this filing?
The date of the event which requires the filing of this statement was December 31, 2023, as specified on the first page of the Schedule 13G.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 2, 2024 regarding Onconetix, Inc. (ONCO).