StockNews.com began coverage on shares of Otonomy (NASDAQ:OTIC – Get Rating) in a research report sent to investors on Saturday morning. The firm issued a hold rating on the biopharmaceutical company's stock.

Otonomy Price Performance

Shares of NASDAQ:OTIC opened at $0.11 on Friday. The business's 50 day moving average price is $0.10 and its 200-day moving average price is $0.19. The firm has a market capitalization of $7.33 million, a price-to-earnings ratio of -0.14 and a beta of 1.55. Otonomy has a 1 year low of $0.06 and a 1 year high of $2.59.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OTIC. Two Sigma Investments LP lifted its holdings in Otonomy by 129.2% in the 3rd quarter. Two Sigma Investments LP now owns 142,183 shares of the biopharmaceutical company's stock valued at $42,000 after purchasing an additional 80,153 shares in the last quarter. Requisite Capital Management LLC purchased a new position in shares of Otonomy during the 3rd quarter worth $44,000. State Street Corp raised its holdings in shares of Otonomy by 5.1% during the 1st quarter. State Street Corp now owns 182,239 shares of the biopharmaceutical company's stock worth $437,000 after acquiring an additional 8,839 shares during the period. Lynx1 Capital Management LP raised its holdings in shares of Otonomy by 7,609.6% during the 3rd 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 during the period. Finally, Point72 Asset Management L.P. purchased a new position in shares of Otonomy during the 3rd quarter worth $1,621,000. Hedge funds and other institutional investors 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)
• Molson Coors: Time To Buy More Or Tap Out?
• Medtronic Stock, A Bottom Is In Play
• What Are Dividend Payment Dates?
• Home Depot Is Heading For The Bargain Basement, Be Ready
• These Stocks Will be Dividend Aristocrats in Five Years or Less

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.