Short Interest in Oncobiologics, Inc. (NASDAQ:OTLK) Expands By 194.4%

Oncobiologics, Inc. (NASDAQ:OTLK) saw a significant increase in short interest in the month of December. As of December 31st, there was short interest totaling 9,076,552 shares, an increase of 194.4% from the December 15th total of 3,082,849 shares. Currently, 14.9% of the company’s stock are short sold. Based on an average daily trading volume, of 7,415,424 shares, the short-interest ratio is currently 1.2 days. Based on an average daily trading volume, of 7,415,424 shares, the short-interest ratio is currently 1.2 days. Currently, 14.9% of the company’s stock are short sold.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. grew its stake in shares of 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 buying an additional 21,941 shares during the period. AQR Capital Management LLC grew its position in Oncobiologics by 42.7% in the first quarter. AQR Capital Management LLC now owns 84,671 shares of the company’s stock valued at $103,000 after acquiring an additional 25,351 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Oncobiologics by 74.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 103,524 shares of the company’s stock valued at $126,000 after purchasing an additional 44,063 shares in the last quarter. 11.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. HC Wainwright reiterated a “neutral” rating on shares of Oncobiologics in a research note on Tuesday, September 30th. Wall Street Zen cut shares of Oncobiologics from a “hold” rating to a “sell” rating in a research note on Saturday, January 3rd. Ascendiant Capital Markets raised their price objective on Oncobiologics from $8.00 to $10.00 and gave the company a “buy” rating in a report on Monday, December 22nd. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Oncobiologics in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Oncobiologics currently has a consensus rating of “Hold” and a consensus target price of $7.00.

Oncobiologics Stock Down 3.8%

OTLK traded down $0.02 on Wednesday, reaching $0.54. The company had a trading volume of 2,571,270 shares, compared to its average volume of 13,272,058. Oncobiologics has a 1 year low of $0.50 and a 1 year high of $3.39. The stock has a 50-day moving average price of $1.59 and a 200-day moving average price of $1.59. The stock has a market capitalization of $34.62 million, a PE ratio of -0.36 and a beta of 0.17.

Oncobiologics (NASDAQ:OTLK) last posted its quarterly earnings data on Friday, December 19th. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.01. The company had revenue of $4.65 million for the quarter, compared to analysts’ expectations of $5.85 million. As a group, analysts expect that Oncobiologics will post -2.27 earnings per share for the current fiscal year.

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.