Otonomy, Inc. (OTIC) Stake Held by Russell Investments Group Ltd.
Russell Investments Group Ltd. continued to hold its stake in shares of Otonomy, Inc. (NASDAQ:OTIC) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,334 shares of the biopharmaceutical company’s stock at the end of the first quarter. Russell Investments Group Ltd. owned approximately 0.06% of Otonomy worth $237,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of OTIC. Highbridge Capital Management LLC purchased a new stake in Otonomy during the fourth quarter worth about $423,000. Teachers Advisors LLC boosted its stake in Otonomy by 5.0% in the fourth quarter. Teachers Advisors LLC now owns 40,811 shares of the biopharmaceutical company’s stock worth $649,000 after buying an additional 1,927 shares during the period. Columbus Circle Investors boosted its stake in Otonomy by 149.6% in the first quarter. Columbus Circle Investors now owns 77,563 shares of the biopharmaceutical company’s stock worth $950,000 after buying an additional 46,485 shares during the period. Harvey Capital Management Inc. boosted its stake in Otonomy by 4.9% in the first quarter. Harvey Capital Management Inc. now owns 133,925 shares of the biopharmaceutical company’s stock worth $1,640,000 after buying an additional 6,200 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Otonomy by 181.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 211,110 shares of the biopharmaceutical company’s stock worth $3,357,000 after buying an additional 136,077 shares during the period. Hedge funds and other institutional investors own 89.08% of the company’s stock.
Shares of Otonomy, Inc. (NASDAQ OTIC) traded up 2.24% on Monday, hitting $18.25. 201,564 shares of the stock were exchanged. The company has a 50-day moving average price of $18.11 and a 200-day moving average price of $14.79. The firm’s market capitalization is $552.17 million. Otonomy, Inc. has a one year low of $11.30 and a one year high of $20.15.
Otonomy (NASDAQ:OTIC) last posted its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.77) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.80) by $0.03. The company had revenue of $0.33 million during the quarter, compared to analyst estimates of $0.43 million. Otonomy had a negative net margin of 8,172.38% and a negative return on equity of 54.27%. The firm’s revenue for the quarter was up 312.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.98) earnings per share. Equities research analysts expect that Otonomy, Inc. will post ($3.45) earnings per share for the current year.
OTIC has been the subject of a number of recent analyst reports. Piper Jaffray Companies initiated coverage on shares of Otonomy in a report on Friday, June 2nd. They set an “overweight” rating and a $32.00 price target for the company. Zacks Investment Research cut shares of Otonomy from a “hold” rating to a “sell” rating in a report on Wednesday, May 17th.
In related news, insider Eric J. Loumeau sold 3,522 shares of the stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $18.59, for a total transaction of $65,473.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.70% of the stock is currently owned by corporate insiders.
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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