Carl Lebel Sells 10,625 Shares of Otonomy Inc. (OTIC) Stock
Otonomy Inc. (NASDAQ:OTIC) insider Carl Lebel sold 10,625 shares of the firm’s stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $18.07, for a total value of $191,993.75. Following the completion of the sale, the insider now directly owns 13,001 shares in the company, valued at approximately $234,928.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Otonomy Inc. (NASDAQ:OTIC) opened at 18.50 on Thursday. Otonomy Inc. has a one year low of $10.50 and a one year high of $30.75. The company’s 50 day moving average price is $16.76 and its 200-day moving average price is $15.93. The stock’s market capitalization is $558.59 million.
Hedge funds have recently bought and sold shares of the stock. California State Teachers Retirement System boosted its stake in Otonomy by 29.5% in the second quarter. California State Teachers Retirement System now owns 50,393 shares of the biopharmaceutical company’s stock worth $800,000 after buying an additional 11,467 shares during the period. Rothschild Asset Management Inc. bought a new stake in Otonomy during the second quarter valued at about $249,000. Jennison Associates LLC raised its stake in Otonomy by 8.6% in the second quarter. Jennison Associates LLC now owns 3,876,468 shares of the biopharmaceutical company’s stock valued at $61,558,000 after buying an additional 306,723 shares in the last quarter. Alps Advisors Inc. raised its stake in Otonomy by 28.7% in the second quarter. Alps Advisors Inc. now owns 42,304 shares of the biopharmaceutical company’s stock valued at $672,000 after buying an additional 9,425 shares in the last quarter. Finally, Emerald Acquisition Ltd. bought a new stake in Otonomy during the second quarter valued at about $153,000. Institutional investors own 84.57% of the company’s stock.
Several analysts have weighed in on OTIC shares. Piper Jaffray Cos. reaffirmed a “buy” rating and issued a $32.00 price target on shares of Otonomy in a report on Wednesday, November 2nd. Zacks Investment Research raised Otonomy from a “sell” rating to a “hold” rating in a report on Thursday, September 15th.
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 has developed a technology referred to as sustained-exposure that is designed to deliver drug that is retained in the ear for an extended period of time following a local administration.
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