TPG Group Holdings SBS Advisors Inc. Has $40,703,000 Holdings in Otonomy, Inc. (OTIC)
TPG Group Holdings SBS Advisors Inc. continued to hold its stake in Otonomy, Inc. (NASDAQ:OTIC) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,159,335 shares of the biopharmaceutical company’s stock at the end of the 2nd quarter. Otonomy comprises about 0.6% of TPG Group Holdings SBS Advisors Inc.’s holdings, making the stock its 23rd biggest holding. TPG Group Holdings SBS Advisors Inc. owned about 7.13% of Otonomy worth $40,703,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of OTIC. Voya Investment Management LLC increased its holdings in Otonomy by 17.9% in the 2nd quarter. Voya Investment Management LLC now owns 12,606 shares of the biopharmaceutical company’s stock worth $238,000 after purchasing an additional 1,918 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Otonomy by 31.1% in the second quarter. Dimensional Fund Advisors LP now owns 407,799 shares of the biopharmaceutical company’s stock valued at $7,687,000 after purchasing an additional 96,630 shares during the last quarter. Northern Trust Corp raised its position in Otonomy by 16.9% in the second quarter. Northern Trust Corp now owns 348,514 shares of the biopharmaceutical company’s stock valued at $6,570,000 after purchasing an additional 50,261 shares during the last quarter. New York State Common Retirement Fund raised its position in Otonomy by 23.0% in the second quarter. New York State Common Retirement Fund now owns 30,500 shares of the biopharmaceutical company’s stock valued at $575,000 after purchasing an additional 5,699 shares during the last quarter. Finally, Nationwide Fund Advisors raised its position in Otonomy by 5.8% in the second quarter. Nationwide Fund Advisors now owns 36,904 shares of the biopharmaceutical company’s stock valued at $696,000 after purchasing an additional 2,026 shares during the last quarter. Institutional investors and hedge funds own 88.74% of the company’s stock.
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A number of analysts have recently commented on OTIC shares. BidaskClub lowered Otonomy from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Piper Jaffray Companies downgraded Otonomy from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $32.00 to $8.00 in a research note on Wednesday, August 30th. J P Morgan Chase & Co raised Otonomy from a “neutral” rating to an “overweight” rating and set a $28.00 price objective for the company in a research note on Tuesday, August 15th. Cowen and Company reaffirmed an “outperform” rating and issued a $9.00 price objective (down previously from $55.00) on shares of Otonomy in a research note on Thursday, August 31st. Finally, SunTrust Banks, Inc. reiterated a “buy” rating and issued a $15.00 price objective (down previously from $45.00) on shares of Otonomy in a report on Thursday, August 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $11.00.
Shares of Otonomy, Inc. (OTIC) traded up 3.676% during mid-day trading on Tuesday, hitting $3.525. 613,734 shares of the company traded hands. The stock’s market capitalization is $106.82 million. Otonomy, Inc. has a 1-year low of $3.15 and a 1-year high of $21.15. The firm’s 50 day moving average price is $8.99 and its 200-day moving average price is $13.56.
Otonomy (NASDAQ:OTIC) last issued its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.77) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.80) by $0.03. Otonomy had a negative return on equity of 57.43% and a negative net margin of 8,172.38%. The business had revenue of $0.33 million during the quarter, compared to analyst estimates of $0.43 million. During the same quarter in the prior year, the firm earned ($0.98) earnings per share. Otonomy’s revenue for the quarter was up 312.5% on a year-over-year basis. On average, equities research analysts forecast that Otonomy, Inc. will post ($3.23) EPS for the current year.
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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