Short Interest in Oncobiologics, Inc. (NASDAQ:OTLK) Declines By 46.6%

Oncobiologics, Inc. (NASDAQ:OTLK) saw a significant decline in short interest in the month of January. As of January 15th, there was short interest totaling 4,843,122 shares, a decline of 46.6% from the December 31st total of 9,076,552 shares. Based on an average daily volume of 18,961,362 shares, the days-to-cover ratio is currently 0.3 days. Approximately 7.9% of the company’s shares are short sold. Approximately 7.9% of the company’s shares are short sold. Based on an average daily volume of 18,961,362 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Trading of Oncobiologics

Large investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. lifted its stake in Oncobiologics by 74.1% in the first 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 during the last quarter. AQR Capital Management LLC lifted its position in shares of Oncobiologics by 42.7% during 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 during the last quarter. Finally, Russell Investments Group Ltd. grew its stake 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 in the last quarter. 11.20% of the stock is currently owned by hedge funds and other institutional investors.

Oncobiologics Stock Down 4.4%

Oncobiologics stock traded down $0.02 during mid-day trading on Friday, reaching $0.44. 1,506,885 shares of the company’s stock were exchanged, compared to its average volume of 10,615,531. Oncobiologics has a twelve month low of $0.42 and a twelve month high of $3.39. The company has a market cap of $32.32 million, a P/E ratio of -0.29 and a beta of 0.17. The company has a fifty day moving average of $1.34 and a 200-day moving average of $1.48.

Oncobiologics (NASDAQ:OTLK) last posted its quarterly earnings data on Friday, December 19th. The company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.01. The company had revenue of $4.65 million for the quarter, compared to analysts’ expectations of $5.85 million. Equities research analysts expect that Oncobiologics will post -2.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on OTLK shares. Wall Street Zen downgraded Oncobiologics from a “hold” rating to a “sell” rating in a research report on Saturday, January 3rd. Ascendiant Capital Markets increased their price objective on shares of Oncobiologics from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Monday, December 22nd. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Oncobiologics in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $5.33.

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.