Otonomy, Inc. (NASDAQ:OTIC – Get Rating)'s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.32 and traded as low as $0.11. Otonomy shares last traded at $0.11, with a volume of 1,426,584 shares.

Analyst Upgrades and Downgrades

OTIC has been the topic of a number of research reports. Piper Sandler cut Otonomy from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $3.00 to $0.50 in a research report on Thursday, October 13th. StockNews.com started coverage on Otonomy in a research report on Thursday. They issued a "hold" rating for the company.

Otonomy Price Performance

The company's 50-day moving average is $0.11 and its two-hundred day moving average is $0.32. The company has a market cap of $7.10 million, a P/E ratio of -0.14 and a beta of 1.55.

Hedge Funds Weigh In On Otonomy

A number of hedge funds have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. bought a new position in Otonomy in the third quarter valued at approximately $1,621,000. Lynx1 Capital Management LP boosted its holdings in Otonomy by 7,609.6% in the third quarter. Lynx1 Capital Management LP now owns 2,312,880 shares of the biopharmaceutical company's stock worth $682,000 after acquiring an additional 2,282,880 shares in the last quarter. Requisite Capital Management LLC purchased a new stake in shares of Otonomy during the third quarter valued at approximately $44,000. Dimensional Fund Advisors LP boosted its holdings in shares of Otonomy by 17.7% in the first quarter. Dimensional Fund Advisors LP now owns 841,694 shares of the biopharmaceutical company's stock worth $2,020,000 after acquiring an additional 126,747 shares during the period. Finally, Two Sigma Investments LP lifted its stake in Otonomy by 129.2% during the third quarter. Two Sigma Investments LP now owns 142,183 shares of the biopharmaceutical company's stock worth $42,000 after purchasing an additional 80,153 shares during the last quarter. Institutional investors and hedge funds own 41.23% of the company's stock.

Otonomy Company Profile

(Get Rating)

Otonomy, Inc operates as a biopharmaceutical company. engages in the development of therapeutics for neurotology. The firm's product pipeline includes OTIVIDEX (dexamethasone) Meniere's disease, OTIPRIO (ciprofloxacin otic suspension) acute otitis media with tubes (AOMT), OTO-313 (gacyclidine) tinnitus, OTO-413 (BDNF) hidden hearing Loss, OTO-510 (otoprotectant) prevent CIHL, OTO-6XX (hair cell regeneration) severe hearing loss.

Further Reading

• Get a free copy of the StockNews.com research report on Otonomy (OTIC)
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