Oncobiologics (NASDAQ:OTLK) Rating Lowered to “Sell” at Wall Street Zen

Oncobiologics (NASDAQ:OTLK) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

OTLK has been the topic of a number of other research reports. BTIG Research reissued a “neutral” rating on shares of Oncobiologics in a research note on Monday, May 18th. Weiss Ratings upgraded Oncobiologics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, June 24th. Finally, Ascendiant Capital Markets increased their target price on Oncobiologics from $6.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $6.50.

Oncobiologics Price Performance

Shares of NASDAQ:OTLK opened at $1.39 on Friday. Oncobiologics has a one year low of $0.16 and a one year high of $3.39. The company has a 50 day moving average of $1.06 and a 200-day moving average of $0.65. The stock has a market cap of $206.54 million, a price-to-earnings ratio of -1.19 and a beta of 0.77.

Oncobiologics (NASDAQ:OTLK) last announced its quarterly earnings data on Friday, May 15th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.04). The company had revenue of $0.13 million for the quarter, compared to analyst estimates of $4.39 million. Equities research analysts anticipate that Oncobiologics will post -0.48 earnings per share for the current year.

Insider Activity at Oncobiologics

In other news, Director Ghiath M. Sukhtian acquired 8,539,709 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was acquired at an average price of $0.59 per share, for a total transaction of $5,038,428.31. Following the transaction, the director directly owned 22,092,068 shares in the company, valued at approximately $13,034,320.12. This represents a 63.01% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 1.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. grew its stake in Oncobiologics by 865.2% in the second quarter. Russell Investments Group Ltd. now owns 24,477 shares of the company’s stock valued at $39,000 after acquiring an additional 21,941 shares during the period. AQR Capital Management LLC raised its position in shares of 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 purchasing an additional 25,351 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Oncobiologics by 74.1% during the 1st 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 in the last quarter. 11.20% of the stock is currently owned by institutional investors.

About Oncobiologics

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.