Dynamic Technology Lab Private Ltd Takes Position in Otonomy, Inc. (OTIC)

Dynamic Technology Lab Private Ltd bought a new position in Otonomy, Inc. (NASDAQ:OTIC) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 80,966 shares of the biopharmaceutical company’s stock, valued at approximately $263,000. Dynamic Technology Lab Private Ltd owned 0.27% of Otonomy as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. SG Americas Securities LLC acquired a new stake in Otonomy during the second quarter valued at $115,000. Legal & General Group Plc increased its stake in shares of Otonomy by 13.3% in the second quarter. Legal & General Group Plc now owns 6,348 shares of the biopharmaceutical company’s stock worth $119,000 after purchasing an additional 746 shares during the period. Lakeview Capital Partners LLC bought a new position in shares of Otonomy in the third quarter worth about $120,000. Los Angeles Capital Management & Equity Research Inc. bought a new position in Otonomy during the third quarter valued at about $126,000. Finally, Voya Investment Management LLC increased its stake in Otonomy by 17.9% during the second quarter. Voya Investment Management LLC now owns 12,606 shares of the biopharmaceutical company’s stock valued at $238,000 after acquiring an additional 1,918 shares during the period. 60.57% of the stock is owned by institutional investors and hedge funds.

A number of research firms have weighed in on OTIC. BidaskClub downgraded Otonomy from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Zacks Investment Research raised Otonomy from a “sell” rating to a “hold” rating in a report on Friday, August 18th. J P Morgan Chase & Co raised Otonomy from a “neutral” rating to an “overweight” rating and set a $28.00 price objective on the stock in a report on Tuesday, August 15th. Cowen reaffirmed an “outperform” rating and set a $55.00 price objective on shares of Otonomy in a report on Wednesday, August 23rd. Finally, ValuEngine cut shares of Otonomy from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $9.15.

Otonomy, Inc. (OTIC) opened at $5.10 on Wednesday. Otonomy, Inc. has a one year low of $2.80 and a one year high of $21.15.

Otonomy (NASDAQ:OTIC) last released its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.69) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.84) by $0.15. Otonomy had a negative net margin of 7,899.03% and a negative return on equity of 60.74%. The firm had revenue of $0.28 million for the quarter, compared to analysts’ expectations of $0.43 million. Otonomy’s quarterly revenue was down 12.8% on a year-over-year basis. research analysts anticipate that Otonomy, Inc. will post -2.88 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: “Dynamic Technology Lab Private Ltd Takes Position in Otonomy, Inc. (OTIC)” was originally reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this article on another site, it was illegally copied and republished in violation of US and international copyright and trademark law. The correct version of this article can be viewed at https://stocknewstimes.com/2017/12/06/dynamic-technology-lab-private-ltd-takes-position-in-otonomy-inc-otic.html.

About Otonomy

Otonomy, Inc is a biopharmaceutical company. The Company focuses on the development and commercialization of therapeutics for diseases and disorders of the ear. The Company’s product candidates include OTIPRIO, OTO-104 and OTO-311. OTIPRIO is a single-dose, physician-administered antibacterial, which is used for the treatment of pediatric patients with bilateral otitis media with effusion undergoing tympanostomy tube placement (TTP) surgery and is available for commercial purchase.

Institutional Ownership by Quarter for Otonomy (NASDAQ:OTIC)

Receive News & Ratings for Otonomy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Otonomy Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply