Otonomy (NASDAQ:OTIC) Stock Passes Below Fifty Day Moving Average of $2.52

Otonomy Inc (NASDAQ:OTIC) shares passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $2.52 and traded as low as $2.25. Otonomy shares last traded at $2.26, with a volume of 124 shares trading hands.

A number of research analysts have recently commented on the stock. ValuEngine upgraded shares of Otonomy from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Zacks Investment Research cut shares of Otonomy from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th.

The stock’s fifty day moving average price is $2.52 and its 200 day moving average price is $2.55. The company has a debt-to-equity ratio of 0.52, a current ratio of 7.32 and a quick ratio of 7.32. The stock has a market capitalization of $71.95 million, a P/E ratio of -1.39 and a beta of 2.36.



Otonomy (NASDAQ:OTIC) last posted its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.38) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.48) by $0.10. The firm had revenue of $0.19 million for the quarter, compared to analysts’ expectations of $0.50 million. Otonomy had a negative net margin of 6,984.64% and a negative return on equity of 65.91%. On average, sell-side analysts expect that Otonomy Inc will post -1.7 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of OTIC. BlackRock Inc. boosted its position in shares of Otonomy by 4.4% in the fourth quarter. BlackRock Inc. now owns 841,216 shares of the biopharmaceutical company’s stock worth $1,557,000 after purchasing an additional 35,592 shares during the period. Mercer Global Advisors Inc. ADV bought a new position in shares of Otonomy in the first quarter worth approximately $225,000. Spark Investment Management LLC boosted its position in shares of Otonomy by 59.5% in the first quarter. Spark Investment Management LLC now owns 46,207 shares of the biopharmaceutical company’s stock worth $121,000 after purchasing an additional 17,241 shares during the period. Acadian Asset Management LLC boosted its position in shares of Otonomy by 31.6% in the first quarter. Acadian Asset Management LLC now owns 119,044 shares of the biopharmaceutical company’s stock worth $314,000 after purchasing an additional 28,551 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of Otonomy by 5.2% in the second quarter. Renaissance Technologies LLC now owns 1,722,917 shares of the biopharmaceutical company’s stock worth $4,738,000 after purchasing an additional 85,569 shares during the period. Hedge funds and other institutional investors own 53.93% of the company’s stock.

About Otonomy (NASDAQ:OTIC)

Otonomy, Inc, a biopharmaceutical company, develops therapeutics for neurotology in the United States. The company offers OTIPRIO, a ciprofloxacin otic suspension for use during tympanostomy tube placement surgery in pediatric patients. It also develops OTIVIDEX, a sustained-exposure formulation of the steroid dexamethasone in Phase III clinical trial for the treatment of Ménière's disease; OTO-313, a sustained-exposure formulation of N-methyl-D-aspartate receptor antagonist gacyclidine, which is in Phase I/II clinical trial to treat tinnitus; and OTO-413, a proprietary formulation of brain-derived neurotrophic factor that is in Phase I/II clinical trial for the repair of cochlear synaptopathy and the treatment of speech-in-noise hearing difficulties.

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