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

Oncobiologics, Inc. (NASDAQ:OTLK) saw some unusual options trading on Monday. Stock investors acquired 7,771 call options on the stock. This represents an increase of 132% compared to the typical volume of 3,355 call options.

Wall Street Analysts Forecast Growth

OTLK has been the subject of several analyst reports. HC Wainwright upped their target price on Oncobiologics from $0.50 to $1.60 and gave the company a “neutral” rating in a research note on Monday. Wall Street Zen lowered Oncobiologics from a “hold” rating to a “sell” rating in a research note on Saturday, July 18th. Weiss Ratings upgraded Oncobiologics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, June 24th. BTIG Research raised shares of Oncobiologics from a “neutral” rating to a “buy” rating and set a $4.00 price objective for the company in a research note on Monday. Finally, Ascendiant Capital Markets upped their price objective on shares of Oncobiologics from $6.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.65.

Oncobiologics Trading Down 15.1%

Shares of NASDAQ OTLK opened at $0.90 on Wednesday. Oncobiologics has a 12-month low of $0.16 and a 12-month high of $3.39. The company has a market cap of $134.33 million, a P/E ratio of -0.77 and a beta of 0.77. The stock has a fifty day moving average price of $1.21 and a 200 day moving average price of $0.66.

Oncobiologics (NASDAQ:OTLK) last issued its quarterly earnings data on Friday, May 15th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). The business had revenue of $0.13 million during the quarter, compared to the consensus estimate of $4.39 million. On average, sell-side analysts forecast that Oncobiologics will post -0.48 EPS for the current fiscal year.

Insider Buying and Selling at Oncobiologics

In other Oncobiologics news, Director Ghiath M. Sukhtian purchased 8,539,709 shares of Oncobiologics stock in a transaction on Thursday, May 28th. The shares were bought at an average price of $0.59 per share, with a total value of $5,038,428.31. Following the purchase, the director directly owned 22,092,068 shares in the company, valued at $13,034,320.12. This trade represents a 63.01% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Oncobiologics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. boosted its holdings 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 acquiring an additional 21,941 shares during the period. AQR Capital Management LLC raised its stake in shares of Oncobiologics by 42.7% during the first quarter. AQR Capital Management LLC now owns 84,671 shares of the company’s stock valued at $103,000 after purchasing an additional 25,351 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of 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 period. 11.20% of the stock is owned by institutional investors and hedge funds.

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.