Otonomy, Inc. (NASDAQ:OTIC – Get Rating) crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $0.11 and traded as high as $0.13. Otonomy shares last traded at $0.11, with a volume of 1,365,375 shares traded.

Analyst Ratings Changes

OTIC has been the topic of several recent analyst reports. StockNews.com initiated coverage on Otonomy in a research note on Wednesday. They issued a "hold" rating on the stock. Piper Sandler downgraded Otonomy from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $3.00 to $0.50 in a report on Thursday, October 13th.

Otonomy Stock Performance

The company's fifty day simple moving average is $0.11 and its two-hundred day simple moving average is $0.39. The company has a market capitalization of $6.87 million, a price-to-earnings ratio of -0.14 and a beta of 1.47.

Institutional Investors Weigh In On Otonomy

A number of institutional investors have recently made changes to their positions in OTIC. Silverarc Capital Management LLC lifted its stake in Otonomy by 0.6% during the first quarter. Silverarc Capital Management LLC now owns 1,207,385 shares of the biopharmaceutical company's stock worth $2,898,000 after purchasing an additional 7,571 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Otonomy by 17.7% during the first quarter. Dimensional Fund Advisors LP now owns 841,694 shares of the biopharmaceutical company's stock worth $2,020,000 after purchasing an additional 126,747 shares during the period. State Street Corp lifted its position in shares of Otonomy by 5.1% in the 1st quarter. State Street Corp now owns 182,239 shares of the biopharmaceutical company's stock worth $437,000 after buying an additional 8,839 shares during the last quarter. Two Sigma Investments LP grew its position in shares of Otonomy by 129.2% during the 3rd quarter. Two Sigma Investments LP now owns 142,183 shares of the biopharmaceutical company's stock valued at $42,000 after buying an additional 80,153 shares during the last quarter. Finally, Requisite Capital Management LLC acquired a new stake in Otonomy during the third quarter worth about $44,000. 41.23% of the stock is currently owned by institutional investors.

About Otonomy

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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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