Dimensional Fund Advisors LP Has $3.81 Million Position in Otonomy, Inc. (OTIC)
Dimensional Fund Advisors LP raised its position in shares of Otonomy, Inc. (NASDAQ:OTIC) by 47.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 311,169 shares of the biopharmaceutical company’s stock after buying an additional 100,059 shares during the period. Dimensional Fund Advisors LP owned about 1.03% of Otonomy worth $3,812,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the stock. Teachers Advisors LLC boosted its stake in shares of 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 last quarter. Wells Fargo & Company MN boosted its stake in shares of 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 last quarter. Bank of New York Mellon Corp boosted its stake in shares of Otonomy by 4.6% in the first quarter. Bank of New York Mellon Corp now owns 335,156 shares of the biopharmaceutical company’s stock worth $4,106,000 after buying an additional 14,695 shares during the last quarter. Swiss National Bank boosted its stake in shares of 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 last quarter. Finally, Trexquant Investment LP acquired a new stake in shares of Otonomy during the first quarter worth about $123,000. 88.74% of the stock is currently owned by institutional investors and hedge funds.
Shares of Otonomy, Inc. (NASDAQ OTIC) traded down 0.25% during midday trading on Tuesday, reaching $20.25. 12,618 shares of the company’s stock were exchanged. The stock’s market cap is $613.64 million. The firm has a 50 day moving average of $18.78 and a 200-day moving average of $15.30. Otonomy, Inc. has a one year low of $11.30 and a one year high of $20.90.
Otonomy (NASDAQ:OTIC) last announced its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.77) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 firm had revenue of $0.33 million for the quarter, compared to the consensus estimate of $0.43 million. During the same period in the prior year, the firm posted ($0.98) earnings per share. The firm’s quarterly revenue was up 312.5% compared to the same quarter last year. On average, equities research analysts anticipate that Otonomy, Inc. will post ($3.36) earnings per share for the current year.
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OTIC has been the topic of a number of analyst reports. Zacks Investment Research raised 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 set an “overweight” rating and a $32.00 target price on the stock. BidaskClub cut shares of Otonomy from a “buy” rating to a “hold” rating in a report on Friday, August 11th. J P Morgan Chase & Co raised shares of Otonomy from a “neutral” rating to an “overweight” rating and set a $28.00 target price on the stock in a report on Tuesday, August 15th. Finally, Cowen and Company reissued an “outperform” rating and set a $55.00 target price on shares of Otonomy in a report on Wednesday, August 23rd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $32.50.
In other Otonomy news, insider Eric J. Loumeau sold 3,522 shares of the stock in a transaction on 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 filing with the SEC, which can be accessed through this hyperlink. Company insiders own 12.70% of the company’s stock.
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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