Oncobiologics, Inc. (NASDAQ:OTLK) Short Interest Update

Oncobiologics, Inc. (NASDAQ:OTLK) saw a significant growth in short interest during the month of May. As of May 29th, there was short interest totaling 16,133,268 shares, a growth of 77.5% from the May 14th total of 9,088,387 shares. Approximately 11.7% of the shares of the stock are sold short. Based on an average daily volume of 65,462,641 shares, the short-interest ratio is presently 0.2 days.

Oncobiologics Stock Performance

Shares of OTLK stock traded down $0.08 on Monday, hitting $1.15. The stock had a trading volume of 19,736,488 shares, compared to its average volume of 11,592,797. The firm has a market capitalization of $160.36 million, a price-to-earnings ratio of -0.98 and a beta of 0.94. The stock’s 50 day moving average is $0.41 and its 200-day moving average is $0.72. Oncobiologics has a 52-week low of $0.16 and a 52-week high of $3.39.

Oncobiologics (NASDAQ:OTLK) last issued its quarterly earnings data on Friday, May 15th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). The business had revenue of $0.13 million during the quarter, compared to analysts’ expectations of $4.39 million. Equities analysts expect that Oncobiologics will post -0.48 earnings per share for the current year.

Wall Street Analysts Forecast Growth

OTLK has been the subject of a number of recent analyst reports. Ascendiant Capital Markets boosted their target price on shares of Oncobiologics from $6.00 to $10.00 and gave the company a “buy” rating in a report on Thursday. Chardan Capital restated a “neutral” rating on shares of Oncobiologics in a report on Wednesday, February 18th. BTIG Research restated a “neutral” rating on shares of Oncobiologics in a report on Monday, May 18th. HC Wainwright restated a “neutral” rating on shares of Oncobiologics in a report on Wednesday, February 18th. Finally, Wall Street Zen upgraded Oncobiologics to a “sell” rating in a report on Saturday, May 30th. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.50.

Insiders Place Their Bets

In related news, Director Ghiath M. Sukhtian acquired 8,539,709 shares of Oncobiologics stock in a transaction dated Thursday, May 28th. The shares were acquired at an average cost of $0.59 per share, for a total transaction of $5,038,428.31. Following the completion of the transaction, the director directly owned 22,092,068 shares of the company’s stock, valued at $13,034,320.12. The trade was a 63.01% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OTLK. Russell Investments Group Ltd. boosted its position in Oncobiologics by 865.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 24,477 shares of the company’s stock valued at $39,000 after purchasing an additional 21,941 shares during the period. AQR Capital Management LLC boosted its position in Oncobiologics by 42.7% during the 1st quarter. AQR Capital Management LLC now owns 84,671 shares of the company’s stock valued at $103,000 after purchasing an additional 25,351 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in Oncobiologics by 74.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 103,524 shares of the company’s stock worth $126,000 after acquiring an additional 44,063 shares during the period. Institutional investors and hedge funds own 11.20% of the company’s stock.

Oncobiologics Company Profile

Oncobiologics, Inc is a clinical-stage biopharmaceutical company specializing in the development of biosimilar therapeutics for cancer and autoimmune diseases. Leveraging recombinant DNA technology and advanced formulation platforms, the company aims to create high-quality, cost-effective alternatives to originator biologic drugs. Oncobiologics’ research focus includes monoclonal antibodies and growth factors that support oncology treatment and immunomodulation.

Founded in 2005 and headquartered in Marlborough, Massachusetts, Oncobiologics maintains research facilities in the Greater Boston area and an integrated manufacturing site in Hyderabad, India, through its wholly owned subsidiary.