Vanguard Group Inc. reduced its position in shares of Otonomy, Inc. (NASDAQ:OTIC) by 5.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 949,910 shares of the biopharmaceutical company’s stock after selling 54,674 shares during the period. Vanguard Group Inc. owned 3.14% of Otonomy worth $17,905,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in shares of Otonomy during the 2nd quarter worth about $115,000. Legal & General Group Plc boosted its position in shares of Otonomy by 13.3% in the second quarter. Legal & General Group Plc now owns 6,348 shares of the biopharmaceutical company’s stock worth $119,000 after acquiring an additional 746 shares during the last quarter. American International Group Inc. boosted its position in shares of Otonomy by 7.1% in the first quarter. American International Group Inc. now owns 14,800 shares of the biopharmaceutical company’s stock worth $181,000 after acquiring an additional 981 shares during the last quarter. Tudor Investment Corp ET AL acquired a new stake in shares of Otonomy in the first quarter worth approximately $216,000. Finally, Wells Fargo & Company MN boosted its position in shares of Otonomy by 5.8% in the first quarter. Wells Fargo & Company MN now owns 19,190 shares of the biopharmaceutical company’s stock worth $236,000 after acquiring an additional 1,045 shares during the last quarter. 78.12% of the stock is currently owned by institutional investors.

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Several equities research analysts recently issued reports on OTIC shares. SunTrust Banks, Inc. reissued a “buy” rating and issued a $15.00 target price (down from $45.00) on shares of Otonomy in a research report on Thursday, August 31st. J P Morgan Chase & Co cut shares of Otonomy from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $28.00 to $8.00 in a research report on Wednesday, August 30th. Piper Jaffray Companies cut shares of Otonomy from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $32.00 to $8.00 in a research report on Wednesday, August 30th. Cowen and Company reissued an “outperform” rating and issued a $9.00 target price (down from $55.00) on shares of Otonomy in a research report on Thursday, August 31st. Finally, ValuEngine cut shares of Otonomy from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. Otonomy currently has an average rating of “Hold” and an average target price of $9.15.

Shares of Otonomy, Inc. (NASDAQ OTIC) opened at $5.50 on Friday. Otonomy, Inc. has a 12-month low of $2.80 and a 12-month high of $21.15.

Otonomy (NASDAQ:OTIC) last announced its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.69) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.15. The firm had revenue of $0.28 million for the quarter, compared to analysts’ expectations of $0.43 million. Otonomy had a negative net margin of 7,899.03% and a negative return on equity of 60.74%. The firm’s revenue for the quarter was down 12.8% on a year-over-year basis. equities research analysts anticipate that Otonomy, Inc. will post -2.94 earnings per share for the current fiscal year.

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.

Institutional Ownership by Quarter for Otonomy (NASDAQ:OTIC)

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