Oncobiologics, Inc. (NASDAQ:OTLK) Short Interest Update

Oncobiologics, Inc. (NASDAQ:OTLK) was the target of a significant growth in short interest in the month of December. As of December 31st, there was short interest totaling 9,076,552 shares, a growth of 194.4% from the December 15th total of 3,082,849 shares. Approximately 14.9% of the company’s shares are sold short. Based on an average daily trading volume, of 7,415,424 shares, the short-interest ratio is presently 1.2 days. Based on an average daily trading volume, of 7,415,424 shares, the short-interest ratio is presently 1.2 days. Approximately 14.9% of the company’s shares are sold short.

Oncobiologics Price Performance

Oncobiologics stock traded down $0.01 during midday trading on Thursday, hitting $0.53. 2,003,667 shares of the company were exchanged, compared to its average volume of 19,063,660. Oncobiologics has a fifty-two week low of $0.50 and a fifty-two week high of $3.39. The company’s fifty day moving average price is $1.59 and its 200-day moving average price is $1.59. The company has a market cap of $33.79 million, a PE ratio of -0.35 and a beta of 0.17.

Oncobiologics (NASDAQ:OTLK) last announced its earnings results on Friday, December 19th. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.01. The firm had revenue of $4.65 million during the quarter, compared to analysts’ expectations of $5.85 million. On average, analysts expect that Oncobiologics will post -2.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Oncobiologics

Several large investors have recently modified their holdings of OTLK. Russell Investments Group Ltd. increased its holdings in Oncobiologics by 865.2% in the second quarter. Russell Investments Group Ltd. now owns 24,477 shares of the company’s stock valued at $39,000 after buying an additional 21,941 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Oncobiologics by 42.7% in the 1st quarter. AQR Capital Management LLC now owns 84,671 shares of the company’s stock worth $103,000 after acquiring an additional 25,351 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Oncobiologics by 74.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 103,524 shares of the company’s stock valued at $126,000 after acquiring an additional 44,063 shares during the last quarter. Institutional investors own 11.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on OTLK. HC Wainwright reaffirmed a “neutral” rating on shares of Oncobiologics in a research note on Tuesday, September 30th. Ascendiant Capital Markets increased their price target on shares of Oncobiologics from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday, December 22nd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Oncobiologics in a report on Monday, December 29th. Finally, Wall Street Zen downgraded Oncobiologics from a “hold” rating to a “sell” rating in a report on Saturday, January 3rd. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Oncobiologics currently has a consensus rating of “Hold” and a consensus price target of $7.00.

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.