Citadel Advisors LLC Has $395,000 Stake in Otonomy, Inc. (OTIC)
Citadel Advisors LLC cut its position in Otonomy, Inc. (NASDAQ:OTIC) by 46.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,947 shares of the biopharmaceutical company’s stock after selling 18,214 shares during the quarter. Citadel Advisors LLC owned 0.07% of Otonomy worth $395,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the company. Wells Fargo & Company MN increased its position in Otonomy by 5.8% during the 1st quarter. Wells Fargo & Company MN now owns 19,190 shares of the biopharmaceutical company’s stock worth $236,000 after purchasing an additional 1,045 shares in the last quarter. Bank of New York Mellon Corp increased its position in Otonomy by 4.6% during the 1st quarter. Bank of New York Mellon Corp now owns 335,156 shares of the biopharmaceutical company’s stock worth $4,106,000 after purchasing an additional 14,695 shares in the last quarter. Swiss National Bank increased its position in Otonomy by 8.4% during the 1st quarter. Swiss National Bank now owns 34,800 shares of the biopharmaceutical company’s stock worth $426,000 after purchasing an additional 2,700 shares in the last quarter. Trexquant Investment LP acquired a new position in Otonomy during the 1st quarter worth approximately $123,000. Finally, American International Group Inc. increased its position in Otonomy by 7.1% during the 1st quarter. American International Group Inc. now owns 14,800 shares of the biopharmaceutical company’s stock worth $181,000 after purchasing an additional 981 shares in the last quarter. Institutional investors own 88.74% of the company’s stock.
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OTIC has been the subject of a number of research analyst reports. SunTrust Banks, Inc. reiterated a “buy” rating and set a $15.00 price objective (down from $45.00) on shares of Otonomy in a research report on Thursday, August 31st. BidaskClub cut shares of Otonomy from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Zacks Investment Research upgraded shares of Otonomy from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. Piper Jaffray Companies cut shares of Otonomy from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $32.00 to $8.00 in a research report on Wednesday, August 30th. Finally, J P Morgan Chase & Co cut shares of Otonomy from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $28.00 to $8.00 in a research report on Wednesday, August 30th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $10.00.
Shares of Otonomy, Inc. (OTIC) opened at 3.425 on Wednesday. The company’s market capitalization is $103.79 million. Otonomy, Inc. has a 12-month low of $3.15 and a 12-month high of $21.15. The firm’s 50-day moving average is $6.32 and its 200-day moving average is $13.14.
Otonomy (NASDAQ:OTIC) last announced its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.77) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.03. The business had revenue of $0.33 million for the quarter, compared to the consensus estimate of $0.43 million. Otonomy had a negative net margin of 8,172.38% and a negative return on equity of 57.43%. Otonomy’s quarterly revenue was up 312.5% on a year-over-year basis. During the same period last year, the firm posted ($0.98) earnings per share. On average, equities analysts predict that Otonomy, Inc. will post ($3.23) EPS for the current year.
Otonomy Company Profile
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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