Latest Stocks: Otonomy Inc (OTIC) Stake Reduced by ProShare Advisors LLC

Latest Stocks: Otonomy Inc (OTIC) Stake Reduced by ProShare Advisors LLC

ProShare Advisors LLC cut its position in shares of Otonomy Inc (NASDAQ:OTIC) by 20.7% during the first quarter, Holdings Channel reports. The firm owned 18,882 shares of the biopharmaceutical company’s stock after selling 4,926 shares during the period. ProShare Advisors LLC’s holdings in Otonomy were worth $231,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. State Street Corp increased its stake in shares of Otonomy by 44.9% in the fourth quarter. State Street Corp now owns 526,176 shares of the biopharmaceutical company’s stock worth $8,368,000 after buying an additional 163,107 shares during the period. Russell Investments Group Ltd. bought a new stake in shares of Otonomy during the fourth quarter worth $304,000. Dimensional Fund Advisors LP increased its stake in shares of Otonomy by 181.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 211,110 shares of the biopharmaceutical company’s stock worth $3,357,000 after buying an additional 136,077 shares during the period. FIL Ltd increased its stake in shares of Otonomy by 7.9% in the fourth quarter. FIL Ltd now owns 66,541 shares of the biopharmaceutical company’s stock worth $1,058,000 after buying an additional 4,870 shares during the period. Finally, Harvey Capital Management Inc. increased its stake in shares of Otonomy by 4.9% in the first quarter. Harvey Capital Management Inc. now owns 133,925 shares of the biopharmaceutical company’s stock worth $1,640,000 after buying an additional 6,200 shares during the period. 83.55% of the stock is owned by hedge funds and other institutional investors.

Shares of Otonomy Inc (OTIC) opened at 12.90 on Tuesday. The company’s market capitalization is $390.30 million. The firm has a 50-day moving average of $13.33 and a 200-day moving average of $14.58. Otonomy Inc has a one year low of $11.30 and a one year high of $19.38.

Otonomy (NASDAQ:OTIC) last released its quarterly earnings data on Thursday, May 4th. The biopharmaceutical company reported ($0.89) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.84) by $0.05. The business had revenue of $0.36 million for the quarter, compared to analysts’ expectations of $0.50 million. Equities research analysts expect that Otonomy Inc will post ($3.38) EPS for the current fiscal year.

A number of analysts have weighed in on OTIC shares. Zacks Investment Research raised shares of Otonomy from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a report on Thursday, May 4th. Piper Jaffray Companies started coverage on shares of Otonomy in a report on Friday. They issued an “overweight” rating and a $32.00 price target for the company.

Want to see what other hedge funds are holding OTIC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Otonomy Inc (NASDAQ:OTIC).

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