Rothschild Asset Management Inc. Sells 3,631 Shares of Otonomy, Inc. (NASDAQ:OTIC)
Rothschild Asset Management Inc. cut its stake in shares of Otonomy, Inc. (NASDAQ:OTIC) by 4.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 80,270 shares of the biopharmaceutical company’s stock after selling 3,631 shares during the period. Rothschild Asset Management Inc.’s holdings in Otonomy were worth $1,513,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Russell Investments Group Ltd. acquired a new position in Otonomy during the fourth quarter valued at approximately $304,000. State Street Corp raised its position in Otonomy by 44.9% in the fourth quarter. State Street Corp now owns 526,176 shares of the biopharmaceutical company’s stock valued at $8,368,000 after buying an additional 163,107 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Otonomy by 181.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 211,110 shares of the biopharmaceutical company’s stock valued at $3,357,000 after buying an additional 136,077 shares during the last quarter. Teachers Advisors LLC raised its position in Otonomy by 5.0% in the fourth quarter. Teachers Advisors LLC now owns 40,811 shares of the biopharmaceutical company’s stock valued at $649,000 after buying an additional 1,927 shares during the last quarter. Finally, Highbridge Capital Management LLC acquired a new position in Otonomy during the fourth quarter valued at approximately $423,000. 89.08% of the stock is owned by institutional investors and hedge funds.
Otonomy, Inc. (NASDAQ OTIC) opened at 17.10 on Thursday. The stock has a 50 day moving average of $18.63 and a 200 day moving average of $14.90. Otonomy, Inc. has a 1-year low of $11.30 and a 1-year high of $20.15. The stock’s market cap is $517.38 million.
Otonomy (NASDAQ:OTIC) last released its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.77) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.80) by $0.03. The company had revenue of $0.33 million during the quarter, compared to analysts’ expectations of $0.43 million. Otonomy had a negative return on equity of 57.43% and a negative net margin of 8,172.38%. The business’s revenue was up 312.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.98) EPS. Equities analysts expect that Otonomy, Inc. will post ($3.42) earnings per share for the current year.
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OTIC has been the subject of several recent research reports. Zacks Investment Research raised shares of Otonomy from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Thursday, May 4th. Piper Jaffray Companies initiated coverage on shares of Otonomy in a research note on Friday, June 2nd. They issued an “overweight” rating and a $32.00 price objective for the company.
In other news, insider Eric J. Loumeau sold 3,522 shares of the stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $18.59, for a total transaction of $65,473.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate 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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