Otonomy Inc. (NASDAQ: OTIC) is -63.52% lower on its value in year-to-date trading and has touched a low of $2.14 and a high of $6.98 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The OTIC stock was last observed hovering at around $2.47 in the last trading session, with the day’s loss setting it -0.11% off its average median price target of $6.00 for the next 12 months. It is also 73.78% off the consensus price target high of $9.00 offered by 5 analysts, but current levels are 52.8% higher than the price target low of $5.00 for the same period.
Currently trading at $2.36, the stock is 0.11% and -14.63% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.54 million and changing -4.45% at the moment leaves the stock -40.84% off its SMA200. OTIC registered 0.43% gain for a year compared to 6-month loss of -36.56%. The firm has a 50-day simple moving average (SMA 50) of $2.5174 and a 200-day simple moving average (SMA200) of $4.0474.
The stock witnessed a -5.22% gain in the last 1 month and extending the period to 3 months gives it a -48.47%, and is 2.61% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 6.22% over the week and 6.27% over the month.
Otonomy Inc. (OTIC) has around 56 employees, a market worth around $114.51M and $0.30M in sales. Distance from 52-week low is 10.28% and -66.20% from its 52-week high. The company has generated returns on investments over the last 12 months (-53.40%).
Otonomy Inc. (OTIC) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Otonomy Inc. (OTIC) is a “Buy”. 5 analysts offering their recommendations for the stock have an average rating of 1.80, where 0 rate it as a Hold and 0 think it is a “Overweight”. 5 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Otonomy Inc. is expected to release its quarterly report on 08/05/2021 and quarterly earnings per share for the current quarter are estimated at -$0.21 with sales reaching $30k over the same period.The EPS is expected to grow by 24.70% this year, but quarterly earnings will post 859.70% year-over-year.
Otonomy Inc. (OTIC) Top Institutional Holders
70 institutions hold shares in Otonomy Inc. (OTIC), with 87.51k shares held by insiders accounting for 0.28% while institutional investors hold 66.14% of the company’s shares. The shares outstanding are 52.34M, and float is at 48.20M with Short Float at 1.83%. Institutions hold 65.95% of the Float.
The top institutional shareholder in the company is Federated Hermes, Inc. with over 3.93 million shares valued at $25.43 million. The investor’s holdings represent 6.94% of the OTIC Shares outstanding. As of Dec 30, 2020, the second largest holder is Orbimed Advisors LLC. with 3.25 million shares valued at $21.03 million to account for 5.74% of the shares outstanding. The other top investors are Sofinnova Investments, Inc. which holds 2.62 million shares representing 4.63% and valued at over $16.96 million, while Cormorant Asset Management, LP holds 4.59% of the shares totaling 2.6 million with a market value of $16.82 million.
Otonomy Inc. (OTIC) Insider Activity
A total of 17 insider transactions have happened at Otonomy Inc. (OTIC) in the last six months, with sales accounting for 14 and purchases happening 3 times. The most recent transaction is an insider sale by Lichter Jay, the company’s Director. SEC filings show that Lichter Jay sold 321,180 shares of the company’s common stock on Mar 03 at a price of $2.70 per share for a total of $0.87 million. Following the sale, the insider now owns 0.0 shares.
Otonomy Inc. disclosed in a document filed with the SEC on Mar 02 that Lichter Jay (Director) sold a total of 389,574 shares of the company’s common stock. The trade occurred on Mar 02 and was made at $2.90 per share for $1.13 million. Following the transaction, the insider now directly holds 0.11 million shares of the OTIC stock.
Still, SEC filings show that on Mar 01, Lichter Jay (Director) disposed off 173,700 shares at an average price of $2.86 for $0.5 million. The insider now directly holds 252,134 shares of Otonomy Inc. (OTIC).
Otonomy Inc. (OTIC): Who are the competitors?
The company’s main competitors (and peers) include Applied Genetic Technologies Corporation (AGTC) that is trading 11.40% up over the past 12 months. Short interest in the company’s stock has risen 35.45% from the last report on Apr 14, 2021 to stand at a total of 0.88 million short shares sold with a short interest ratio of 1.14.