Traders Buy High Volume of Oncobiologics Call Options (NASDAQ:OTLK)

Oncobiologics, Inc. (NASDAQ:OTLK) saw unusually large options trading activity on Wednesday. Investors acquired 4,613 call options on the company. This represents an increase of 98% compared to the average daily volume of 2,328 call options.

Oncobiologics Stock Up 13.4%

Shares of Oncobiologics stock traded up $0.20 during trading hours on Wednesday, reaching $1.66. 2,880,879 shares of the stock traded hands, compared to its average volume of 11,729,082. Oncobiologics has a one year low of $0.16 and a one year high of $3.39. The firm has a market capitalization of $245.92 million, a price-to-earnings ratio of -1.42 and a beta of 0.77. The company has a 50 day moving average price of $0.85 and a 200 day moving average price of $0.67.

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

Analyst Ratings Changes

Several equities research analysts recently commented on the company. BTIG Research reaffirmed a “neutral” rating on shares of Oncobiologics in a research report on Monday, May 18th. Weiss Ratings raised Oncobiologics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, June 24th. Ascendiant Capital Markets upped their target price on shares of Oncobiologics from $6.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. Finally, Wall Street Zen raised shares of Oncobiologics from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $6.50.

Insider Transactions at Oncobiologics

In other Oncobiologics news, Director Ghiath M. Sukhtian acquired 8,539,709 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were acquired at an average cost of $0.59 per share, with a total value of $5,038,428.31. Following the transaction, the director 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Oncobiologics

A number of hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. raised its holdings in Oncobiologics by 74.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 103,524 shares of the company’s stock worth $126,000 after purchasing an additional 44,063 shares during the period. AQR Capital Management LLC grew its holdings in Oncobiologics by 42.7% during the first 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, Russell Investments Group Ltd. increased its position in Oncobiologics by 865.2% in the second quarter. Russell Investments Group Ltd. now owns 24,477 shares of the company’s stock worth $39,000 after buying an additional 21,941 shares in the last quarter. Institutional investors 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.