Oncobiologics, Inc. (NASDAQ:OTLK) Sees Significant Decrease in Short Interest

Oncobiologics, Inc. (NASDAQ:OTLK) was the target of a significant decrease in short interest during the month of January. As of January 15th, there was short interest totaling 4,843,122 shares, a decrease of 46.6% from the December 31st total of 9,076,552 shares. Currently, 7.9% of the shares of the stock are short sold. Based on an average daily volume of 18,961,362 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily volume of 18,961,362 shares, the days-to-cover ratio is currently 0.3 days. Currently, 7.9% of the shares of the stock are short sold.

Hedge Funds Weigh In On Oncobiologics

Several institutional investors have recently modified their holdings of the company. AQR Capital Management LLC grew its stake in shares of Oncobiologics by 42.7% in the first quarter. AQR Capital Management LLC now owns 84,671 shares of the company’s stock worth $103,000 after purchasing an additional 25,351 shares in the last quarter. Goldman Sachs Group Inc. raised 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 worth $126,000 after buying an additional 44,063 shares during the period. Finally, Russell Investments Group Ltd. raised its stake 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. Institutional investors own 11.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Wall Street Zen cut Oncobiologics from a “hold” rating to a “sell” rating in a research report on Saturday, January 3rd. Ascendiant Capital Markets lifted their price target on shares of Oncobiologics from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, December 22nd. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Oncobiologics in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.33.

Oncobiologics Trading Down 4.4%

NASDAQ:OTLK traded down $0.02 on Friday, reaching $0.44. The stock had a trading volume of 1,506,885 shares, compared to its average volume of 10,615,531. Oncobiologics has a 12-month low of $0.42 and a 12-month high of $3.39. The stock has a market cap of $32.32 million, a P/E ratio of -0.29 and a beta of 0.17. The company has a 50-day moving average of $1.34 and a 200 day moving average of $1.47.

Oncobiologics (NASDAQ:OTLK) last released its quarterly earnings results on Friday, December 19th. The company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.01. The company had revenue of $4.65 million for the quarter, compared to analyst estimates of $5.85 million. On average, equities analysts predict that Oncobiologics will post -2.27 EPS for the current year.

About Oncobiologics

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.