Otonomy Inc (NASDAQ:OTIC) Stake Lifted by Acadian Asset Management LLC

Acadian Asset Management LLC increased its holdings in shares of Otonomy Inc (NASDAQ:OTIC) by 31.6% during the first quarter, HoldingsChannel reports. The institutional investor owned 119,044 shares of the biopharmaceutical company’s stock after acquiring an additional 28,551 shares during the period. Acadian Asset Management LLC’s holdings in Otonomy were worth $314,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc lifted its position in shares of Otonomy by 11.2% during the 3rd quarter. Vanguard Group Inc now owns 1,127,033 shares of the biopharmaceutical company’s stock valued at $3,100,000 after buying an additional 113,457 shares in the last quarter. Pura Vida Investments LLC lifted its position in shares of Otonomy by 211.6% during the 4th quarter. Pura Vida Investments LLC now owns 896,387 shares of the biopharmaceutical company’s stock valued at $1,658,000 after buying an additional 608,730 shares in the last quarter. BlackRock Inc. lifted its position in shares of Otonomy by 4.4% during the 4th quarter. BlackRock Inc. now owns 841,216 shares of the biopharmaceutical company’s stock valued at $1,557,000 after buying an additional 35,592 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Otonomy by 11.2% during the 3rd quarter. Vanguard Group Inc. now owns 1,127,033 shares of the biopharmaceutical company’s stock valued at $3,100,000 after buying an additional 113,457 shares in the last quarter. Finally, 683 Capital Management LLC lifted its position in shares of Otonomy by 37.5% during the 4th quarter. 683 Capital Management LLC now owns 1,100,000 shares of the biopharmaceutical company’s stock valued at $2,035,000 after buying an additional 300,000 shares in the last quarter. Hedge funds and other institutional investors own 53.31% of the company’s stock.

Shares of NASDAQ:OTIC opened at $2.54 on Friday. Otonomy Inc has a 1 year low of $1.50 and a 1 year high of $4.55. The company has a market cap of $76.41 million, a PE ratio of -1.54 and a beta of 2.39. The company has a debt-to-equity ratio of 0.45, a quick ratio of 9.07 and a current ratio of 9.07.

Otonomy (NASDAQ:OTIC) last announced its quarterly earnings data on Monday, May 6th. The biopharmaceutical company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.07. The company had revenue of $0.19 million for the quarter, compared to analyst estimates of $0.33 million. Otonomy had a negative return on equity of 60.14% and a negative net margin of 8,007.55%. Sell-side analysts expect that Otonomy Inc will post -1.73 EPS for the current fiscal year.

A number of brokerages have recently issued reports on OTIC. Zacks Investment Research lowered Otonomy from a “buy” rating to a “hold” rating in a research report on Wednesday, May 8th. ValuEngine lowered Otonomy from a “hold” rating to a “sell” rating in a research report on Wednesday, May 1st. Piper Jaffray Companies reiterated a “buy” rating on shares of Otonomy in a research report on Tuesday, March 5th. Finally, Cantor Fitzgerald reiterated a “buy” rating and set a $5.00 target price on shares of Otonomy in a research report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $5.92.

COPYRIGHT VIOLATION NOTICE: This piece was posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this piece on another domain, it was stolen and reposted in violation of international trademark & copyright laws. The correct version of this piece can be viewed at https://www.dispatchtribunal.com/2019/06/15/otonomy-inc-nasdaqotic-stake-lifted-by-acadian-asset-management-llc.html.

About Otonomy

Otonomy, Inc, a biopharmaceutical company, develops therapeutics for neurotology in the United States. The company offers OTIPRIO, a ciprofloxacin otic suspension for use during tympanostomy tube placement surgery in pediatric patients. It also develops OTIVIDEX, a sustained-exposure formulation of the steroid dexamethasone in Phase III clinical trial for the treatment of Ménière's disease; OTO-313, a sustained-exposure formulation of N-methyl-D-aspartate receptor antagonist gacyclidine, which is in Phase I/II clinical trial to treat tinnitus; and OTO-413, a proprietary formulation of brain-derived neurotrophic factor that is in Phase I/II clinical trial for the repair of cochlear synaptopathy and the treatment of speech-in-noise hearing difficulties.

Recommended Story: Understanding Compound Annual Growth Rate (CAGR)

Want to see what other hedge funds are holding OTIC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Otonomy Inc (NASDAQ:OTIC).

Institutional Ownership by Quarter for Otonomy (NASDAQ:OTIC)

Receive News & Ratings for Otonomy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Otonomy and related companies with MarketBeat.com's FREE daily email newsletter.