Acadian Asset Management LLC increased its position in shares of Otonomy Inc (NASDAQ:OTIC) by 722.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 35,996 shares of the biopharmaceutical company’s stock after acquiring an additional 31,620 shares during the period. Acadian Asset Management LLC owned approximately 0.12% of Otonomy worth $200,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently modified their holdings of OTIC. Legal & General Group Plc increased its holdings in shares of Otonomy by 13.3% in the 2nd quarter. Legal & General Group Plc now owns 6,348 shares of the biopharmaceutical company’s stock worth $119,000 after buying an additional 746 shares during the last quarter. Lakeview Capital Partners LLC bought a new position in shares of Otonomy in the 3rd quarter worth $120,000. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Otonomy in the 3rd quarter worth $126,000. Voya Investment Management LLC increased its holdings in shares of Otonomy by 17.9% in the 2nd quarter. Voya Investment Management LLC now owns 12,606 shares of the biopharmaceutical company’s stock worth $238,000 after buying an additional 1,918 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Otonomy in the 3rd quarter worth $263,000. 67.10% of the stock is currently owned by hedge funds and other institutional investors.
OTIC has been the topic of a number of research analyst reports. Piper Jaffray Companies reissued a “hold” rating and issued a $8.00 price target on shares of Otonomy in a report on Friday, November 10th. Zacks Investment Research raised shares of Otonomy from a “hold” rating to a “buy” rating and set a $5.75 price target on the stock in a report on Tuesday, November 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. Otonomy presently has an average rating of “Hold” and a consensus price target of $9.15.
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Otonomy Company Profile
Otonomy, Inc is a biopharmaceutical company. The Company focuses on the development and commercialization of therapeutics for diseases and disorders of the ear. The Company’s product candidates include OTIPRIO, OTO-104 and OTO-311. OTIPRIO is a single-dose, physician-administered antibacterial, which is used for the treatment of pediatric patients with bilateral otitis media with effusion undergoing tympanostomy tube placement (TTP) surgery and is available for commercial purchase.
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