Rothschild Asset Management Inc. Reduces Position in Otonomy, Inc. (NASDAQ:OTIC)
Rothschild Asset Management Inc. cut its position in shares of Otonomy, Inc. (NASDAQ:OTIC) by 4.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,270 shares of the biopharmaceutical company’s stock after selling 3,631 shares during the period. Rothschild Asset Management Inc. owned about 0.27% of Otonomy worth $1,513,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. American International Group Inc. increased its stake in Otonomy by 7.1% in the first quarter. American International Group Inc. now owns 14,800 shares of the biopharmaceutical company’s stock worth $181,000 after buying an additional 981 shares during the period. Wells Fargo & Company MN increased its stake in Otonomy by 5.8% in the first quarter. Wells Fargo & Company MN now owns 19,190 shares of the biopharmaceutical company’s stock worth $236,000 after buying an additional 1,045 shares during the period. Credit Suisse AG increased its stake in Otonomy by 3.3% in the first quarter. Credit Suisse AG now owns 33,871 shares of the biopharmaceutical company’s stock worth $415,000 after buying an additional 1,082 shares during the period. Teachers Advisors LLC increased 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. Finally, Swiss National Bank increased its stake in Otonomy by 8.4% in the first quarter. Swiss National Bank now owns 34,800 shares of the biopharmaceutical company’s stock worth $426,000 after buying an additional 2,700 shares during the period. Institutional investors own 89.08% of the company’s stock.
Shares of Otonomy, Inc. (OTIC) opened at 17.10 on Thursday. Otonomy, Inc. has a 12-month low of $11.30 and a 12-month high of $20.15. The stock has a 50 day moving average of $18.63 and a 200-day moving average of $14.90. The company’s market capitalization is $517.38 million.
Otonomy (NASDAQ:OTIC) last announced its quarterly 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. Otonomy had a negative net margin of 8,172.38% and a negative return on equity of 57.43%. The business had revenue of $0.33 million during the quarter, compared to analysts’ expectations of $0.43 million. During the same period last year, the business earned ($0.98) earnings per share. The business’s revenue for the quarter was up 312.5% on a year-over-year basis. Equities research analysts forecast that Otonomy, Inc. will post ($3.42) EPS for the current year.
OTIC has been the topic of a number of research reports. Zacks Investment Research upgraded shares of Otonomy from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Thursday, May 4th. Piper Jaffray Companies initiated coverage on shares of Otonomy in a report on Friday, June 2nd. They issued an “overweight” rating and a $32.00 target price on the stock.
In other Otonomy news, insider Eric J. Loumeau sold 3,522 shares of Otonomy 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 12.70% of the stock is owned by company insiders.
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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