Several other research firms have also recently issued reports on OTIC. Oppenheimer increased their target price on Otonomy from $5.00 to $6.00 and gave the stock an outperform rating in a research report on Wednesday, April 20th. StockNews.com assumed coverage on Otonomy in a research report on Saturday. They set a hold rating for the company. Finally, Piper Sandler cut their target price on Otonomy from $6.00 to $3.00 in a research report on Monday.
Otonomy Stock Down 14.4 %
OTIC stock opened at $0.25 on Tuesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 4.83 and a current ratio of 4.83. The business’s 50-day moving average is $1.93 and its two-hundred day moving average is $2.07. The company has a market cap of $14.21 million, a price-to-earnings ratio of -0.32 and a beta of 1.30. Otonomy has a fifty-two week low of $0.29 and a fifty-two week high of $2.59.
Hedge Funds Weigh In On Otonomy
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lynx1 Capital Management LP bought a new position in Otonomy during the fourth quarter valued at approximately $62,000. State Street Corp boosted its stake in Otonomy by 5.1% during the first quarter. State Street Corp now owns 182,239 shares of the biopharmaceutical company’s stock valued at $437,000 after buying an additional 8,839 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Otonomy by 17.7% during the first quarter. Dimensional Fund Advisors LP now owns 841,694 shares of the biopharmaceutical company’s stock valued at $2,020,000 after buying an additional 126,747 shares during the last quarter. Silverarc Capital Management LLC boosted its stake in Otonomy by 0.6% during the first quarter. Silverarc Capital Management LLC now owns 1,207,385 shares of the biopharmaceutical company’s stock valued at $2,898,000 after buying an additional 7,571 shares during the last quarter. Finally, Suvretta Capital Management LLC boosted its stake in Otonomy by 12.2% during the fourth quarter. Suvretta Capital Management LLC now owns 2,678,115 shares of the biopharmaceutical company’s stock valued at $5,570,000 after buying an additional 290,415 shares during the last quarter. 61.60% of the stock is owned by institutional investors.
Otonomy Company Profile
Otonomy, Inc, a biopharmaceutical company, develops therapeutics for neurotology in the United States. The company offers OTO-313, a sustained-exposure formulation of N-methyl-D-aspartate receptor antagonist gacyclidine, which is in Phase II clinical trials to treat tinnitus; and OTO-413, a sustained-exposure formulation of brain-derived neurotrophic factor that is in Phase IIa clinical trials for the repair of cochlear synaptopathy and the treatment of speech-in-noise hearing difficulties.
- Get a free copy of the StockNews.com research report on Otonomy (OTIC)
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