Oncobiologics Target of Unusually Large Options Trading (NASDAQ:OTLK)

Oncobiologics, Inc. (NASDAQ:OTLK) saw some unusual options trading on Wednesday. Investors purchased 4,613 call options on the company. This represents an increase of 98% compared to the average daily volume of 2,328 call options.

Insider Transactions at Oncobiologics

In other news, Director Ghiath M. Sukhtian bought 8,539,709 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were bought at an average price of $0.59 per share, for a total transaction of $5,038,428.31. Following the purchase, the director owned 22,092,068 shares in the company, valued at approximately $13,034,320.12. The trade was a 63.01% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of Oncobiologics

Large investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its position in Oncobiologics by 74.1% during the first quarter. Goldman Sachs Group Inc. now owns 103,524 shares of the company’s stock valued at $126,000 after purchasing an additional 44,063 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Oncobiologics by 42.7% during the 1st quarter. AQR Capital Management LLC now owns 84,671 shares of the company’s stock valued at $103,000 after buying an additional 25,351 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Oncobiologics by 865.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 24,477 shares of the company’s stock valued at $39,000 after acquiring an additional 21,941 shares during the last quarter. Institutional investors own 11.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on OTLK shares. Weiss Ratings raised shares of Oncobiologics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 24th. BTIG Research reaffirmed a “neutral” rating on shares of Oncobiologics in a report on Monday, May 18th. Ascendiant Capital Markets increased their price target on Oncobiologics from $6.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. Finally, Wall Street Zen raised Oncobiologics from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Oncobiologics presently has an average rating of “Hold” and an average target price of $6.50.

Oncobiologics Stock Up 13.4%

OTLK stock traded up $0.20 during mid-day trading on Wednesday, hitting $1.66. The company had a trading volume of 2,880,879 shares, compared to its average volume of 11,729,082. The company has a 50-day moving average price of $0.85 and a 200 day moving average price of $0.67. Oncobiologics has a 12-month low of $0.16 and a 12-month high of $3.39. The company has a market capitalization of $245.92 million, a price-to-earnings ratio of -1.42 and a beta of 0.77.

Oncobiologics (NASDAQ:OTLK) last issued its quarterly earnings data on Friday, May 15th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). The firm had revenue of $0.13 million during the quarter, compared to analysts’ expectations of $4.39 million. As a group, analysts expect that Oncobiologics will post -0.48 EPS for the current year.

Oncobiologics Company Profile

Oncobiologics, Inc is a clinical-stage biopharmaceutical company specializing in the development of biosimilar therapeutics for cancer and autoimmune diseases. Leveraging recombinant DNA technology and advanced formulation platforms, the company aims to create high-quality, cost-effective alternatives to originator biologic drugs. Oncobiologics’ research focus includes monoclonal antibodies and growth factors that support oncology treatment and immunomodulation.

Founded in 2005 and headquartered in Marlborough, Massachusetts, Oncobiologics maintains research facilities in the Greater Boston area and an integrated manufacturing site in Hyderabad, India, through its wholly owned subsidiary.