Oncobiologics, Inc. (NASDAQ:OTLK) Short Interest Down 17.9% in February

Oncobiologics, Inc. (NASDAQ:OTLK) was the target of a significant drop in short interest in the month of February. As of February 27th, there was short interest totaling 3,692,559 shares, a drop of 17.9% from the February 12th total of 4,499,122 shares. Based on an average daily volume of 998,318 shares, the short-interest ratio is currently 3.7 days. Currently, 4.6% of the company’s shares are sold short. Currently, 4.6% of the company’s shares are sold short. Based on an average daily volume of 998,318 shares, the short-interest ratio is currently 3.7 days.

Oncobiologics Stock Up 12.4%

NASDAQ:OTLK traded up $0.04 during trading hours on Tuesday, hitting $0.40. 1,735,127 shares of the company traded hands, compared to its average volume of 5,008,508. The company has a market cap of $32.87 million, a PE ratio of -0.15 and a beta of -0.07. The firm’s 50-day simple moving average is $0.46 and its 200-day simple moving average is $1.09. Oncobiologics has a one year low of $0.34 and a one year high of $3.39.

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

Analyst Ratings Changes

Several brokerages have issued reports on OTLK. Weiss Ratings reissued a “sell (e+)” rating on shares of Oncobiologics in a research note on Monday, December 29th. HC Wainwright reiterated a “neutral” rating on shares of Oncobiologics in a research report on Wednesday, February 18th. Ascendiant Capital Markets reduced their price target on shares of Oncobiologics from $10.00 to $6.00 and set a “buy” rating for the company in a report on Wednesday, March 11th. Wall Street Zen lowered shares of Oncobiologics from a “hold” rating to a “sell” rating in a report on Saturday, January 3rd. Finally, Chardan Capital restated a “neutral” rating on shares of Oncobiologics in a research note on Wednesday, February 18th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $4.50.

Hedge Funds Weigh In On Oncobiologics

Several hedge funds have recently bought and sold shares of OTLK. Russell Investments Group Ltd. lifted its stake 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 purchasing an additional 21,941 shares in the last quarter. AQR Capital Management LLC increased its holdings 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 period. Finally, Goldman Sachs Group Inc. raised its position 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 buying an additional 44,063 shares in the last quarter. Hedge funds and other institutional investors own 11.20% of the company’s stock.

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.