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 (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.
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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.
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