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

Oncobiologics, Inc. (NASDAQ:OTLK) was the target of a large growth in short interest in December. As of December 31st, there was short interest totaling 9,076,552 shares, a growth of 194.4% from the December 15th total of 3,082,849 shares. Approximately 14.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 7,415,424 shares, the days-to-cover ratio is presently 1.2 days. Based on an average daily trading volume, of 7,415,424 shares, the days-to-cover ratio is presently 1.2 days. Approximately 14.9% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its position 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 buying an additional 44,063 shares during the last quarter. AQR Capital Management LLC raised its holdings in Oncobiologics by 42.7% in the 1st 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 in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of Oncobiologics by 865.2% in the 2nd 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. Hedge funds and other institutional investors own 11.20% of the company’s stock.

Oncobiologics Stock Performance

NASDAQ:OTLK traded down $0.02 during mid-day trading on Tuesday, reaching $0.55. The stock had a trading volume of 835,874 shares, compared to its average volume of 22,912,541. The stock has a market capitalization of $35.45 million, a P/E ratio of -0.36 and a beta of 0.17. The firm has a 50 day moving average price of $1.62 and a two-hundred day moving average price of $1.61. Oncobiologics has a one year low of $0.50 and a one year high of $3.39.

Oncobiologics (NASDAQ:OTLK) last posted its quarterly earnings results on Friday, December 19th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.01. The business had revenue of $4.65 million for the quarter, compared to analysts’ expectations of $5.85 million. Research analysts forecast that Oncobiologics will post -2.27 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on OTLK. HC Wainwright restated a “neutral” rating on shares of Oncobiologics in a research report on Tuesday, September 30th. Wall Street Zen downgraded shares of Oncobiologics from a “hold” rating to a “sell” rating in a report on Saturday, January 3rd. Weiss Ratings restated a “sell (e+)” rating on shares of Oncobiologics in a research report on Monday, December 29th. Finally, Ascendiant Capital Markets increased their price objective on Oncobiologics from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Monday, December 22nd. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $7.00.

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.