Virtu Financial LLC Sells 76,843 Shares of Otonomy Inc (OTIC)

Virtu Financial LLC lessened its position in Otonomy Inc (NASDAQ:OTIC) by 75.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 24,772 shares of the biopharmaceutical company’s stock after selling 76,843 shares during the quarter. Virtu Financial LLC’s holdings in Otonomy were worth $137,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. First Manhattan Co. acquired a new stake in Otonomy in the 4th quarter valued at approximately $10,556,000. Bank of New York Mellon Corp raised its position in Otonomy by 6.4% in the 4th quarter. Bank of New York Mellon Corp now owns 635,160 shares of the biopharmaceutical company’s stock valued at $3,524,000 after buying an additional 38,376 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Otonomy by 6.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 436,003 shares of the biopharmaceutical company’s stock valued at $1,417,000 after buying an additional 28,204 shares during the last quarter. Alpine Associates Management Inc. acquired a new stake in Otonomy in the 3rd quarter valued at approximately $797,000. Finally, Schwab Charles Investment Management Inc. acquired a new stake in Otonomy in the 4th quarter valued at approximately $616,000. 71.62% of the stock is currently owned by institutional investors and hedge funds.

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Otonomy Inc (NASDAQ OTIC) opened at $4.05 on Monday. Otonomy Inc has a 1-year low of $2.80 and a 1-year high of $21.15.

Otonomy (NASDAQ:OTIC) last posted its earnings results on Thursday, March 8th. The biopharmaceutical company reported ($0.62) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.05. The business had revenue of $0.27 million for the quarter, compared to analyst estimates of $0.46 million. Otonomy had a negative return on equity of 63.35% and a negative net margin of 7,292.07%. Otonomy’s revenue was down 1.1% compared to the same quarter last year. equities research analysts anticipate that Otonomy Inc will post -1.72 EPS for the current year.

Several research analysts have weighed in on the company. Zacks Investment Research raised Otonomy from a “hold” rating to a “buy” rating and set a $5.00 price target on the stock in a research report on Saturday. JPMorgan Chase & Co. lowered Otonomy from a “neutral” rating to an “underweight” rating in a research report on Monday, March 19th. Finally, Piper Jaffray raised Otonomy from a “neutral” rating to an “overweight” rating in a research report on Monday, March 12th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $9.00.

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Otonomy Company Profile

Otonomy, Inc is a biopharmaceutical company. The Company focuses on the development and commercialization of therapeutics for diseases and disorders of the ear. The Company’s product candidates include OTIPRIO, OTO-104 and OTO-311. OTIPRIO is a single-dose, physician-administered antibacterial, which is used for the treatment of pediatric patients with bilateral otitis media with effusion undergoing tympanostomy tube placement (TTP) surgery and is available for commercial purchase.

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Institutional Ownership by Quarter for Otonomy (NASDAQ:OTIC)

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