Otonomy Inc (OTIC) Holdings Trimmed by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. decreased its holdings in shares of Otonomy Inc (NASDAQ:OTIC) by 27.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,600 shares of the biopharmaceutical company’s stock after selling 12,820 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.11% of Otonomy worth $64,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Acadian Asset Management LLC lifted its position in shares of Otonomy by 14.9% in the 4th quarter. Acadian Asset Management LLC now owns 90,493 shares of the biopharmaceutical company’s stock worth $167,000 after acquiring an additional 11,736 shares during the period. BlackRock Inc. lifted its position in shares of Otonomy by 4.4% in the 4th quarter. BlackRock Inc. now owns 841,216 shares of the biopharmaceutical company’s stock worth $1,557,000 after acquiring an additional 35,592 shares during the period. Vanguard Group Inc. lifted its position in shares of Otonomy by 11.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,127,033 shares of the biopharmaceutical company’s stock worth $3,100,000 after acquiring an additional 113,457 shares during the period. Vanguard Group Inc lifted its position in shares of Otonomy by 11.2% in the 3rd quarter. Vanguard Group Inc now owns 1,127,033 shares of the biopharmaceutical company’s stock worth $3,100,000 after acquiring an additional 113,457 shares during the period. Finally, Renaissance Technologies LLC lifted its position in shares of Otonomy by 6.3% during the 3rd quarter. Renaissance Technologies LLC now owns 1,439,700 shares of the biopharmaceutical company’s stock worth $3,959,000 after buying an additional 84,900 shares during the period. Hedge funds and other institutional investors own 57.41% of the company’s stock.

A number of equities research analysts recently weighed in on OTIC shares. Zacks Investment Research raised Otonomy from a “hold” rating to a “buy” rating and set a $2.00 price target for the company in a report on Tuesday, December 25th. Piper Jaffray Companies reaffirmed a “buy” rating on shares of Otonomy in a report on Tuesday, March 5th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $5.00 price target on shares of Otonomy in a report on Monday, March 4th. Finally, ValuEngine raised Otonomy from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $5.92.

Shares of NASDAQ OTIC traded down $0.01 during midday trading on Monday, hitting $2.79. The stock had a trading volume of 60,839 shares, compared to its average volume of 131,882. The stock has a market capitalization of $86.23 million, a P/E ratio of -1.69 and a beta of 2.54. Otonomy Inc has a fifty-two week low of $1.50 and a fifty-two week high of $4.85. The company has a debt-to-equity ratio of 0.19, a quick ratio of 13.36 and a current ratio of 13.36.

Otonomy (NASDAQ:OTIC) last released its earnings results on Monday, March 4th. The biopharmaceutical company reported ($0.42) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.47) by $0.05. The company had revenue of $0.21 million during the quarter, compared to analysts’ expectations of $0.18 million. Otonomy had a negative return on equity of 53.29% and a negative net margin of 6,760.81%. Equities research analysts forecast that Otonomy Inc will post -1.73 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “Otonomy Inc (OTIC) Holdings Trimmed by Connor Clark & Lunn Investment Management Ltd.” was originally posted by Baseball Daily News and is the sole property of of Baseball Daily News. If you are accessing this story on another publication, it was illegally copied and republished in violation of U.S. & international trademark and copyright legislation. The correct version of this story can be viewed at https://www.baseballdailydigest.com/news/2019/04/15/connor-clark-lunn-investment-management-ltd-has-64000-holdings-in-otonomy-inc-otic.html.

Otonomy Profile

Otonomy, Inc, a biopharmaceutical company, develops therapeutics for neurotology in the United States. The company offers OTIPRIO, a ciprofloxacin otic suspension for use during tympanostomy tube placement surgery in pediatric patients. It also develops OTIVIDEX, a sustained-exposure formulation of the steroid dexamethasone in Phase III clinical trial for the treatment of Ménière's disease; OTO-313, a sustained-exposure formulation of N-methyl-D-aspartate receptor antagonist gacyclidine, which is in Phase I/II clinical trial to treat tinnitus; and OTO-413, a proprietary formulation of brain-derived neurotrophic factor that is in Phase I/II clinical trial for the repair of cochlear synaptopathy and the treatment of speech-in-noise hearing difficulties.

Featured Article: Do back-end load funds outperform no-load funds?

Institutional Ownership by Quarter for Otonomy (NASDAQ:OTIC)

Receive News & Ratings for Otonomy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Otonomy and related companies with MarketBeat.com's FREE daily email newsletter.