Voya Investment Management LLC Has $238,000 Stake in Otonomy, Inc. (OTIC)
Voya Investment Management LLC grew its stake in Otonomy, Inc. (NASDAQ:OTIC) by 17.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,606 shares of the biopharmaceutical company’s stock after purchasing an additional 1,918 shares during the quarter. Voya Investment Management LLC’s holdings in Otonomy were worth $238,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. TD Asset Management Inc. acquired a new position in shares of Otonomy in the 2nd quarter valued at $624,000. Dimensional Fund Advisors LP lifted its stake in shares of Otonomy by 47.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 311,169 shares of the biopharmaceutical company’s stock valued at $3,812,000 after purchasing an additional 100,059 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in shares of Otonomy by 6.3% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 114,786 shares of the biopharmaceutical company’s stock valued at $1,407,000 after purchasing an additional 6,798 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Otonomy by 10,065.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 517,410 shares of the biopharmaceutical company’s stock valued at $9,753,000 after purchasing an additional 512,320 shares during the period. Finally, Alliancebernstein L.P. lifted its stake in shares of Otonomy by 8.7% in the 2nd quarter. Alliancebernstein L.P. now owns 672,876 shares of the biopharmaceutical company’s stock valued at $12,684,000 after purchasing an additional 54,080 shares during the period. 78.12% of the stock is currently owned by institutional investors.
OTIC has been the topic of a number of analyst reports. BidaskClub downgraded Otonomy from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Piper Jaffray Companies downgraded Otonomy from an “overweight” rating to a “neutral” rating and cut their price target for the company from $32.00 to $8.00 in a research note on Wednesday, August 30th. J P Morgan Chase & Co raised Otonomy from a “neutral” rating to an “overweight” rating and set a $28.00 price target on the stock in a research note on Tuesday, August 15th. Cowen and Company reissued an “outperform” rating and issued a $9.00 price target (down previously from $55.00) on shares of Otonomy in a research note on Thursday, August 31st. Finally, SunTrust Banks, Inc. restated a “buy” rating and issued a $15.00 price objective (down previously from $45.00) on shares of Otonomy in a research report on Thursday, August 31st. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $9.15.
Shares of Otonomy, Inc. (NASDAQ:OTIC) opened at $5.55 on Friday. Otonomy, Inc. has a 1 year low of $2.80 and a 1 year high of $21.15.
Otonomy (NASDAQ:OTIC) last released its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported ($0.69) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.84) by $0.15. Otonomy had a negative net margin of 7,899.03% and a negative return on equity of 60.74%. The business had revenue of $0.28 million during the quarter, compared to analysts’ expectations of $0.43 million. The company’s quarterly revenue was down 12.8% on a year-over-year basis. analysts expect that Otonomy, Inc. will post -2.88 earnings per share for the current fiscal year.
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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