Otonomy, Inc. (NASDAQ:OTIC) Short Interest Down 48.0% in August

Otonomy, Inc. (NASDAQ:OTIC) was the target of a large drop in short interest in August. As of August 31st, there was short interest totalling 455,600 shares, a drop of 48.0% from the August 15th total of 876,100 shares. Currently, 0.9% of the shares of the stock are short sold. Based on an average daily volume of 374,900 shares, the days-to-cover ratio is presently 1.2 days.

A number of institutional investors have recently added to or reduced their stakes in OTIC. Ghost Tree Capital LLC boosted its holdings in shares of Otonomy by 125.0% during the first quarter. Ghost Tree Capital LLC now owns 450,000 shares of the biopharmaceutical company’s stock valued at $1,148,000 after acquiring an additional 250,000 shares during the period. Algert Global LLC acquired a new position in shares of Otonomy during the first quarter valued at $217,000. Geode Capital Management LLC lifted its holdings in Otonomy by 18.9% in the first quarter. Geode Capital Management LLC now owns 416,190 shares of the biopharmaceutical company’s stock worth $1,061,000 after purchasing an additional 66,136 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Otonomy by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,174,026 shares of the biopharmaceutical company’s stock worth $7,596,000 after purchasing an additional 5,483 shares during the period. Finally, Squarepoint Ops LLC acquired a new stake in Otonomy in the first quarter worth about $514,000. 63.03% of the stock is owned by hedge funds and other institutional investors.

Separately, Zacks Investment Research downgraded shares of Otonomy from a “hold” rating to a “sell” rating in a report on Tuesday, August 10th.

OTIC stock traded up $0.12 during midday trading on Friday, reaching $1.75. 276,360 shares of the company’s stock traded hands, compared to its average volume of 667,960. The company has a market capitalization of $99.19 million, a P/E ratio of -1.96 and a beta of 2.00. The company has a debt-to-equity ratio of 0.20, a current ratio of 11.25 and a quick ratio of 11.25. Otonomy has a fifty-two week low of $1.14 and a fifty-two week high of $6.98. The business has a 50-day moving average price of $1.63 and a two-hundred day moving average price of $2.13.

Otonomy (NASDAQ:OTIC) last posted its quarterly earnings data on Wednesday, August 4th. The biopharmaceutical company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.02). The firm had revenue of $0.04 million for the quarter, compared to analysts’ expectations of $0.07 million. Otonomy had a negative net margin of 20,278.95% and a negative return on equity of 67.24%. As a group, research analysts forecast that Otonomy will post -0.78 earnings per share for the current fiscal year.

About Otonomy

Otonomy, Inc operates as a biopharmaceutical company. It 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.

Recommended Story: Options Trading

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.