StockNews.com initiated coverage on shares of Otonomy (NASDAQ:OTIC – Get Rating) in a research report sent to investors on Saturday. The brokerage issued a hold rating on the biopharmaceutical company's stock.
Separately, Piper Sandler cut shares of Otonomy from an overweight rating to a neutral rating and cut their price objective for the company from $3.00 to $0.50 in a report on Thursday, October 13th.
Get Otonomy alerts:Otonomy Price Performance
Shares of Otonomy stock opened at $0.07 on Friday. The firm has a fifty day moving average price of $0.11 and a 200 day moving average price of $0.66. Otonomy has a 1 year low of $0.06 and a 1 year high of $2.59. The stock has a market cap of $4.23 million, a PE ratio of -0.10 and a beta of 1.31.
Institutional Trading of Otonomy
Several institutional investors have recently modified their holdings of OTIC. Two Sigma Investments LP grew its position in shares of Otonomy by 129.2% in the third 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 during the period. Requisite Capital Management LLC acquired a new position in Otonomy during the third quarter worth about $44,000. State Street Corp boosted its position in Otonomy by 5.1% during the first 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 last quarter. Lynx1 Capital Management LP boosted its position in Otonomy by 7,609.6% during 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 during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Otonomy during the third quarter worth about $1,621,000. Institutional investors and hedge funds own 41.23% of the company's stock.Otonomy Company Profile
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Otonomy, Inc, a biopharmaceutical company, develops therapeutics for neurotology in the United States. The company offers OTO-313, a sustained-exposure formulation of N-methyl-D-aspartate receptor antagonist gacyclidine, which is in Phase II clinical trials to treat tinnitus; and OTO-413, a sustained-exposure formulation of brain-derived neurotrophic factor that is in Phase IIa clinical trials for the repair of cochlear synaptopathy and the treatment of speech-in-noise hearing difficulties.
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