Oncobiologics, Inc. (NASDAQ:OTLK) Short Interest Update

Oncobiologics, Inc. (NASDAQ:OTLK) was the target of a significant drop in short interest in February. As of February 27th, there was short interest totaling 3,692,559 shares, a drop of 17.9% from the February 12th total of 4,499,122 shares. Approximately 4.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 998,318 shares, the days-to-cover ratio is presently 3.7 days. Based on an average daily trading volume, of 998,318 shares, the days-to-cover ratio is presently 3.7 days. Approximately 4.6% of the shares of the stock are sold short.

Hedge Funds Weigh In On Oncobiologics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. lifted its holdings in shares of Oncobiologics by 865.2% during 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 during the period. AQR Capital Management LLC increased its holdings in Oncobiologics by 42.7% in the first quarter. AQR Capital Management LLC now owns 84,671 shares of the company’s stock valued at $103,000 after purchasing an additional 25,351 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in Oncobiologics by 74.1% in the first quarter. Goldman Sachs Group Inc. now owns 103,524 shares of the company’s stock valued at $126,000 after purchasing an additional 44,063 shares during the period. 11.20% of the stock is currently owned by institutional investors and hedge funds.

Oncobiologics Trading Up 12.4%

Oncobiologics stock opened at $0.40 on Wednesday. The stock has a 50-day moving average price of $0.46 and a two-hundred day moving average price of $1.08. Oncobiologics has a 12 month low of $0.34 and a 12 month high of $3.39. The company has a market capitalization of $32.87 million, a PE ratio of -0.15 and a beta of -0.07.

Oncobiologics (NASDAQ:OTLK) last released its quarterly earnings results on Tuesday, February 17th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.05). The firm had revenue of ($1.21) million during the quarter, compared to the consensus estimate of $3.14 million. As a group, analysts predict that Oncobiologics will post -2.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Oncobiologics in a research note on Monday, December 29th. Ascendiant Capital Markets reduced their price target on shares of Oncobiologics from $10.00 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday, March 11th. Chardan Capital reiterated a “neutral” rating on shares of Oncobiologics in a research report on Wednesday, February 18th. HC Wainwright reiterated a “neutral” rating on shares of Oncobiologics in a research report on Wednesday, February 18th. Finally, Wall Street Zen downgraded shares of Oncobiologics from a “hold” rating to a “sell” rating in a research note on Saturday, January 3rd. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $4.50.

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.