Investors Purchase High Volume of Call Options on Oncobiologics (NASDAQ:OTLK)

Oncobiologics, Inc. (NASDAQ:OTLK) was the target of unusually large options trading on Monday. Stock traders acquired 7,771 call options on the stock. This represents an increase of approximately 132% compared to the typical volume of 3,355 call options.

Insider Buying and Selling at Oncobiologics

In other Oncobiologics news, Director Ghiath M. Sukhtian acquired 8,539,709 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were purchased 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 $13,034,320.12. This represents a 63.01% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Oncobiologics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its stake in shares of Oncobiologics by 74.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 103,524 shares of the company’s stock worth $126,000 after acquiring an additional 44,063 shares in the last quarter. AQR Capital Management LLC boosted its stake in Oncobiologics by 42.7% during the first quarter. AQR Capital Management LLC now owns 84,671 shares of the company’s stock worth $103,000 after acquiring an additional 25,351 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in 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 acquiring an additional 21,941 shares in the last quarter. Hedge funds and other institutional investors own 11.20% of the company’s stock.

Oncobiologics Trading Down 24.2%

Shares of OTLK stock traded down $0.34 during midday trading on Monday, reaching $1.06. 39,817,543 shares of the stock were exchanged, compared to its average volume of 12,093,101. Oncobiologics has a 1 year low of $0.16 and a 1 year high of $3.39. The company’s 50 day moving average is $1.18 and its two-hundred day moving average is $0.65. The firm has a market cap of $158.25 million, a PE ratio of -0.91 and a beta of 0.77.

Oncobiologics (NASDAQ:OTLK) last announced its earnings results on Friday, May 15th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.04). The firm had revenue of $0.13 million during the quarter, compared to analysts’ expectations of $4.39 million. As a group, equities analysts expect that Oncobiologics will post -0.48 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

OTLK has been the subject of a number of research analyst reports. Wall Street Zen lowered Oncobiologics from a “hold” rating to a “sell” rating in a research note on Saturday, July 18th. HC Wainwright boosted their price objective on shares of Oncobiologics to $1.60 and gave the company a “neutral” rating in a research report on Monday. Ascendiant Capital Markets boosted their price objective on shares of Oncobiologics from $6.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. Weiss Ratings upgraded shares of Oncobiologics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, June 24th. Finally, BTIG Research raised shares of Oncobiologics from a “neutral” rating to a “buy” rating and set a $4.00 target price for the company in a research report on Monday. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $4.65.

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.