Oncobiologics, Inc. (NASDAQ:OTLK – Get Free Report) saw 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. Based on an average daily volume of 65,462,641 shares, the short-interest ratio is presently 0.2 days. Currently, 11.7% of the company’s shares are sold short.
Analysts Set New Price Targets
A number of research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Oncobiologics to a “sell” rating in a research report on Saturday, May 30th. Ascendiant Capital Markets upped their price target on Oncobiologics from $6.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Oncobiologics in a research note on Friday, March 27th. Chardan Capital reaffirmed a “neutral” rating on shares of Oncobiologics in a research note on Wednesday, February 18th. Finally, HC Wainwright reaffirmed a “neutral” rating on shares of Oncobiologics in a research note on Wednesday, February 18th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $6.50.
Read Our Latest Report on OTLK
Oncobiologics Trading Up 35.3%
Oncobiologics (NASDAQ:OTLK – Get Free Report) last announced its quarterly earnings results on Friday, May 15th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). The firm had revenue of $0.13 million during the quarter, compared to the consensus estimate of $4.39 million. Sell-side analysts anticipate that Oncobiologics will post -0.48 earnings per share for the current year.
Insider Transactions at Oncobiologics
In other Oncobiologics news, Director Ghiath M. Sukhtian bought 8,539,709 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were bought at an average cost of $0.59 per share, for a total transaction of $5,038,428.31. Following the transaction, the director owned 22,092,068 shares in the company, valued at approximately $13,034,320.12. This trade represents a 63.01% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.80% of the company’s stock.
Institutional Trading of Oncobiologics
A number of large investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. increased its stake in Oncobiologics by 74.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 103,524 shares of the company’s stock worth $126,000 after purchasing an additional 44,063 shares in the last quarter. AQR Capital Management LLC increased its stake in Oncobiologics by 42.7% during the 1st 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 in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Oncobiologics by 865.2% during 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. 11.20% of the stock is owned by institutional investors.
About Oncobiologics
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.
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