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

Oncobiologics, Inc. (NASDAQ:OTLK) was the target of a large increase in short interest in the month of May. As of May 29th, there was short interest totaling 16,133,268 shares, an increase of 77.5% from the May 14th total of 9,088,387 shares. Currently, 11.7% of the company’s shares are sold short. Based on an average daily volume of 65,462,641 shares, the days-to-cover ratio is presently 0.2 days.

Oncobiologics Trading Down 6.1%

OTLK stock traded down $0.08 during trading on Monday, hitting $1.15. 19,736,488 shares of the company’s stock were exchanged, compared to its average volume of 11,592,797. The business has a 50-day moving average price of $0.41 and a two-hundred day moving average price of $0.72. The stock has a market capitalization of $160.36 million, a price-to-earnings ratio of -0.98 and a beta of 0.94. Oncobiologics has a 52-week low of $0.16 and a 52-week high of $3.39.

Oncobiologics (NASDAQ:OTLK) last issued its quarterly earnings data on Friday, May 15th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). The business had revenue of $0.13 million during the quarter, compared to the consensus estimate of $4.39 million. On average, equities research analysts anticipate that Oncobiologics will post -0.48 earnings per share for the current fiscal year.

Insider Buying and Selling at Oncobiologics

In other Oncobiologics news, Director Ghiath M. Sukhtian purchased 8,539,709 shares of the stock in a transaction dated Thursday, May 28th. The stock was acquired at an average cost of $0.59 per share, for a total transaction of $5,038,428.31. Following the acquisition, the director owned 22,092,068 shares in the company, valued at $13,034,320.12. This trade represents a 63.01% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. grew its holdings in Oncobiologics by 865.2% during the second quarter. Russell Investments Group Ltd. now owns 24,477 shares of the company’s stock worth $39,000 after acquiring an additional 21,941 shares during the period. Goldman Sachs Group Inc. grew its holdings in Oncobiologics by 74.1% in the first 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 during the last quarter. Finally, AQR Capital Management LLC grew its holdings in Oncobiologics by 42.7% in the first 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. Institutional investors and hedge funds own 11.20% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on OTLK. Chardan Capital reiterated a “neutral” rating on shares of Oncobiologics in a report on Wednesday, February 18th. Weiss Ratings restated a “sell (e+)” rating on shares of Oncobiologics in a report on Friday, March 27th. Ascendiant Capital Markets raised their target price on Oncobiologics from $6.00 to $10.00 and gave the company a “buy” rating in a report on Thursday. Wall Street Zen upgraded Oncobiologics to a “sell” rating in a report on Saturday, May 30th. Finally, BTIG Research restated a “neutral” rating on shares of Oncobiologics in a report on Monday, May 18th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $6.50.

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.