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

Oncobiologics, Inc. (NASDAQ:OTLK) saw a large decline in short interest during the month of February. As of February 27th, there was short interest totaling 3,692,559 shares, a decline of 17.9% from the February 12th total of 4,499,122 shares. Currently, 4.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 998,318 shares, the days-to-cover ratio is presently 3.7 days. Based on an average daily trading volume, of 998,318 shares, the days-to-cover ratio is presently 3.7 days. Currently, 4.6% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

OTLK has been the topic of a number of recent research reports. Chardan Capital reiterated a “neutral” rating on shares of Oncobiologics in a research report on Wednesday, February 18th. Wall Street Zen cut shares of Oncobiologics from a “hold” rating to a “sell” rating in a research note on Saturday, January 3rd. Ascendiant Capital Markets reduced their target price on shares of Oncobiologics from $10.00 to $6.00 and set a “buy” rating on the stock in a report on Wednesday, March 11th. HC Wainwright reiterated a “neutral” rating on shares of Oncobiologics in a research report on Wednesday, February 18th. Finally, Weiss Ratings reissued 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 given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $4.50.

Institutional Investors Weigh In On Oncobiologics

A number of large investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its stake in shares of Oncobiologics by 865.2% during 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 during the last quarter. AQR Capital Management LLC grew its stake 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 worth $103,000 after purchasing an additional 25,351 shares during the last quarter. 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 purchasing an additional 44,063 shares during the last quarter. Institutional investors own 11.20% of the company’s stock.

Oncobiologics Price Performance

Oncobiologics stock traded down $0.04 during trading hours on Monday, reaching $0.35. The company had a trading volume of 3,397,060 shares, compared to its average volume of 5,073,493. Oncobiologics has a 12-month low of $0.34 and a 12-month high of $3.39. The company has a 50-day moving average price of $0.47 and a 200 day moving average price of $1.09. The firm has a market cap of $29.23 million, a price-to-earnings ratio of -0.13 and a beta of -0.07.

Oncobiologics (NASDAQ:OTLK) last released its quarterly earnings data on Tuesday, February 17th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.05). The firm had revenue of ($1.21) million during the quarter, compared to analysts’ expectations of $3.14 million. As a group, research analysts expect that Oncobiologics will post -2.27 earnings per share for the current year.

Oncobiologics Company Profile

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.