Oncobiologics, Inc. (NASDAQ:OTLK – Get Free Report) saw some unusual options trading activity on Wednesday. Stock traders purchased 2,470 call options on the company. This represents an increase of 137% compared to the typical volume of 1,043 call options.
Analyst Upgrades and Downgrades
OTLK has been the subject of a number of recent analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Oncobiologics in a report on Friday, March 27th. BTIG Research restated a “neutral” rating on shares of Oncobiologics in a report on Monday, May 18th. Wall Street Zen raised shares of Oncobiologics to a “sell” rating in a research report on Saturday. Chardan Capital reaffirmed a “neutral” rating on shares of Oncobiologics in a research report on Wednesday, February 18th. Finally, Ascendiant Capital Markets cut their price objective on shares of Oncobiologics from $10.00 to $6.00 and set a “buy” rating for the company in a research report on Wednesday, March 11th. One equities 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’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $4.50.
Get Our Latest Analysis on OTLK
Oncobiologics Stock Performance
Oncobiologics (NASDAQ:OTLK – Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $4.39 million. On average, equities research analysts predict that Oncobiologics will post -0.51 EPS for the current year.
Insider Transactions at Oncobiologics
In other news, Director Ghiath M. Sukhtian purchased 8,539,709 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was bought at an average cost of $0.59 per share, for a total transaction of $5,038,428.31. Following the completion of the acquisition, the director directly owned 22,092,068 shares of the company’s stock, valued at approximately $13,034,320.12. The trade was a 63.01% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.80% of the stock is owned by company insiders.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in OTLK. Russell Investments Group Ltd. raised its position in Oncobiologics by 865.2% in the second 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. Goldman Sachs Group Inc. raised its position in Oncobiologics by 74.1% in the first 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. Finally, AQR Capital Management LLC raised its position in Oncobiologics by 42.7% in the first 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. Institutional investors and hedge funds own 11.20% of the company’s stock.
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.
Featured Articles
- Five stocks we like better than Oncobiologics
- FedEx Unboxes Billions in Post-Spinoff Value
- Marvell’s AI Moment Raises a Bigger Question for Amazon and ServiceNow
- Palo Alto Networks Accelerates Growth 31% on AI Demand
- NVIDIA, Marriott, and PCA Just Delivered Big News for Income Investors
Receive News & Ratings for Oncobiologics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oncobiologics and related companies with MarketBeat.com's FREE daily email newsletter.
