Otonomy Inc. [OTIC] Revenue clocked in at $0.12 million, down -86.00% YTD: What’s Next?


Otonomy Inc. [NASDAQ: OTIC] closed the trading session at $0.29 on 08/01/22. The day’s price range saw the stock hit a low of $0.2861, while the highest price level was $0.4298. The company report on August 1, 2022 that Otonomy Reports Results from Phase 2 Clinical Trial of OTO-313 in Patients with Tinnitus.

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OTO-313 demonstrated no clinically meaningful improvement versus placebo for primary and secondary endpoints across all timepoints.

Company to discontinue development of OTO-313 and implement other measures to extend its cash runway.

The stocks have a year to date performance of -86.00 percent and weekly performance of -85.06 percent. The stock has been moved at -84.17 percent over the last six months. The stock has performed -86.00 percent around the most recent 30 days and changed -86.76 percent over the most recent 3-months.

If compared to the average trading volume of 154.85K shares, OTIC reached to a volume of 28381443 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Otonomy Inc. [OTIC]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for OTIC shares is $6.62 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on OTIC stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Oppenheimer have made an estimate for Otonomy Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on June 01, 2020. While these analysts kept the previous recommendation, Oppenheimer raised their target price to Outperform. The new note on the price target was released on December 24, 2019, representing the official price target for Otonomy Inc. stock.

The Average True Range (ATR) for Otonomy Inc. is set at 0.26, with the Price to Sales ratio for OTIC stock in the period of the last 12 months amounting to 162.48. The Price to Book ratio for the last quarter was 0.62.

OTIC stock trade performance evaluation

Otonomy Inc. [OTIC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -85.06. With this latest performance, OTIC shares dropped by -86.00% in over the last four-week period, additionally sinking by -84.17% over the last 6 months – not to mention a drop of -83.73% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for OTIC stock in for the last two-week period is set at 14.03, with the RSI for the last a single of trading hit 8.58, and the three-weeks RSI is set at 19.10 for Otonomy Inc. [OTIC]. The present Moving Average for the last 50 days of trading for this stock 1.9533, while it was recorded at 1.3663 for the last single week of trading, and 2.0866 for the last 200 days.

Otonomy Inc. [OTIC]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Otonomy Inc. [OTIC] shares currently have an operating margin of -55620.00 and a Gross Margin at -880.80. Otonomy Inc.’s Net Margin is presently recorded at -40944.80.

Return on Equity for this stock declined to -84.48, with Return on Assets sitting at -50.70.

Otonomy Inc.’s liquidity data is similarly interesting compelling, with a Current Ratio set at 4.80.

Earnings per share (EPS) analysis for Otonomy Inc. [OTIC] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for OTIC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Otonomy Inc. go to 20.40%.

Otonomy Inc. [OTIC]: Insider Ownership positions

There are presently around $11 million, or 65.30% of OTIC stock, in the hands of institutional investors. The top three institutional holders of OTIC stocks are: BAKER BROS. ADVISORS LP with ownership of 7,844,692, which is approximately 0% of the company’s market cap and around 1.60% of the total institutional ownership; RA CAPITAL MANAGEMENT, L.P., holding 5,600,000 shares of the stock with an approximate value of $1.63 million in OTIC stocks shares; and ADAGE CAPITAL PARTNERS GP, L.L.C., currently with $1.46 million in OTIC stock with ownership of nearly 25% of the company’s market capitalization.

Positions in Otonomy Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 22 institutional holders increased their position in Otonomy Inc. [NASDAQ:OTIC] by around 3,089,595 shares. Additionally, 12 investors decreased positions by around 1,174,573 shares, while 17 investors held positions by with 32,581,485 shares. The mentioned changes placed institutional holdings at 36,845,653 shares, according to the latest SEC report filing. OTIC stock had 7 new institutional investments in for a total of 1,410,644 shares, while 1 institutional investors sold positions of 19,750 shares during the same period.