Short Interest in Oncobiologics, Inc. (NASDAQ:OTLK) Grows By 78.0%

Oncobiologics, Inc. (NASDAQ:OTLK) saw a significant growth in short interest in July. As of July 31st, there was short interest totaling 20,013,892 shares, a growth of 78.0% from the July 15th total of 11,240,969 shares. Approximately 13.7% of the company’s stock are short sold. Based on an average trading volume of 18,337,663 shares, the short-interest ratio is presently 1.1 days.

Insider Activity at Oncobiologics

In other Oncobiologics news, Director Ghiath M. Sukhtian purchased 2,525,252 shares of the business’s stock in a transaction dated Wednesday, August 12th. The shares were acquired at an average price of $0.99 per share, for a total transaction of $2,499,999.48. Following the acquisition, the director owned 24,617,320 shares of the company’s stock, valued at $24,371,146.80. This trade represents a 11.43% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Faisal Ghiath Sukhtian acquired 95,398 shares of Oncobiologics stock in a transaction that occurred on Wednesday, July 29th. The stock was acquired at an average cost of $1.05 per share, with a total value of $100,167.90. Following the purchase, the director owned 220,972 shares in the company, valued at $232,020.60. The trade was a 75.97% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired 11,189,359 shares of company stock valued at $7,662,666 over the last three months. Insiders own 1.80% of the company’s stock.

Institutional Trading of Oncobiologics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OTLK. Russell Investments Group Ltd. increased its position in Oncobiologics by 865.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 24,477 shares of the company’s stock worth $39,000 after buying an additional 21,941 shares during the period. AQR Capital Management LLC boosted its position in shares of Oncobiologics by 42.7% in the first quarter. AQR Capital Management LLC now owns 84,671 shares of the company’s stock valued at $103,000 after acquiring an additional 25,351 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in shares of Oncobiologics by 74.1% in the first quarter. Goldman Sachs Group Inc. now owns 103,524 shares of the company’s stock worth $126,000 after acquiring an additional 44,063 shares during the last quarter. Institutional investors and hedge funds own 11.20% of the company’s stock.

Oncobiologics Trading Up 0.6%

Oncobiologics stock traded up $0.00 on Monday, reaching $0.76. 8,510,479 shares of the stock were exchanged, compared to its average volume of 13,056,415. The stock has a market cap of $113.08 million, a PE ratio of -0.99 and a beta of 0.82. Oncobiologics has a twelve month low of $0.16 and a twelve month high of $3.39. The firm has a fifty day moving average price of $1.31 and a two-hundred day moving average price of $0.70.

Oncobiologics (NASDAQ:OTLK) last released its quarterly earnings results on Friday, August 14th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The business had revenue of $0.01 million for the quarter, compared to the consensus estimate of $0.97 million. Equities analysts anticipate that Oncobiologics will post -0.49 EPS for the current fiscal year.

Analysts Set New Price Targets

OTLK has been the topic of several analyst reports. BTIG Research reissued a “buy” rating and set a $4.00 target price on shares of Oncobiologics in a research report on Friday. Weiss Ratings raised Oncobiologics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday. Ascendiant Capital Markets upped 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. HC Wainwright increased their price objective on Oncobiologics to $1.60 and gave the company a “neutral” rating in a report on Monday, July 27th. Finally, Wall Street Zen downgraded Oncobiologics from a “hold” rating to a “sell” rating in a research note on Saturday. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Oncobiologics has an average rating of “Hold” and a consensus target price of $4.65.

About Oncobiologics

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.