Oncobiologics, Inc. (NASDAQ:OTLK) Short Interest Down 46.6% in January

Oncobiologics, Inc. (NASDAQ:OTLK) was the recipient of a significant drop in short interest in the month of January. As of January 15th, there was short interest totaling 4,843,122 shares, a drop of 46.6% from the December 31st total of 9,076,552 shares. Currently, 7.9% of the company’s stock are short sold. Based on an average daily trading volume, of 18,961,362 shares, the short-interest ratio is currently 0.3 days. Based on an average daily trading volume, of 18,961,362 shares, the short-interest ratio is currently 0.3 days. Currently, 7.9% of the company’s stock are short sold.

Analysts Set New Price Targets

A number of equities analysts recently commented on OTLK shares. Wall Street Zen downgraded shares of Oncobiologics from a “hold” rating to a “sell” rating in a research note on Saturday, January 3rd. Ascendiant Capital Markets lifted their price target on Oncobiologics from $8.00 to $10.00 and gave the company a “buy” rating in a report on Monday, December 22nd. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Oncobiologics in a research note on Monday, December 29th. One equities research 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 MarketBeat, Oncobiologics has a consensus rating of “Hold” and an average target price of $5.33.

Oncobiologics Price Performance

OTLK traded down $0.02 on Friday, reaching $0.44. 1,506,885 shares of the stock were exchanged, compared to its average volume of 10,615,531. The company’s 50-day moving average price is $1.34 and its 200 day moving average price is $1.48. The firm has a market capitalization of $32.32 million, a PE ratio of -0.29 and a beta of 0.17. Oncobiologics has a fifty-two week low of $0.42 and a fifty-two week high of $3.39.

Oncobiologics (NASDAQ:OTLK) last announced its quarterly earnings data on Friday, December 19th. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.01. The business had revenue of $4.65 million for the quarter, compared to analyst estimates of $5.85 million. As a group, equities analysts forecast that Oncobiologics will post -2.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Oncobiologics

A number of large investors have recently added to or reduced their stakes in OTLK. Russell Investments Group Ltd. lifted its position in shares of 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 acquiring an additional 21,941 shares in the last quarter. AQR Capital Management LLC raised its stake in Oncobiologics by 42.7% in the 1st 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 last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in 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 purchasing an additional 44,063 shares in the last quarter. 11.20% of the stock is currently 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.