Otonomy Inc. [OTIC] Is Currently -53.46 below its 200 Period Moving Avg: What Does This Mean?

Otonomy Inc. [NASDAQ: OTIC] traded at a low on 10/13/22, posting a -53.46 loss after which it closed the day’ session at $0.12. The company report on October 13, 2022 that Otonomy Reports Results from Clinical Evaluation of OTO-413 Higher Doses in Patients with Hearing Loss.

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Higher dose cohorts for OTO-413 demonstrated no clinically meaningful improvement for patients from baseline.

Lack of activity compared to 0.3 mg dose evaluated in prior studies may be due to a complex dose-response relationship that has been observed with neurotrophins.

The results of the trading session contributed to over 13445374 shares changing hands. Over the past one week, the price volatility of Otonomy Inc. stands at 14.06% while the volatility over the past one month is 12.74%.

The market cap for OTIC stock reached $7.04 million, with 68.05 million shares outstanding and 55.82 million shares in the current float. Compared to the average trading volume of 1.75M shares, OTIC reached a trading volume of 13445374 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $6.00 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 2.50. 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 0.04 The Price to Book ratio for the last quarter was 0.26.

How has OTIC stock performed recently?

Otonomy Inc. [OTIC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -57.72. With this latest performance, OTIC shares dropped by -65.64% in over the last four-week period, additionally sinking by -94.65% over the last 6 months – not to mention a drop of -93.98% 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 19.81, with the RSI for the last a single of trading hit 14.18, and the three-weeks RSI is set at 23.69 for Otonomy Inc. [OTIC]. The present Moving Average for the last 50 days of trading for this stock 0.3398, while it was recorded at 0.2400 for the last single week of trading, and 1.6280 for the last 200 days.

Otonomy Inc. [OTIC]: Deeper insight into the 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 analysis for Otonomy Inc. [OTIC]

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%.

Insider trade positions for Otonomy Inc. [OTIC]

There are presently around $4 million, or 69.00% 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 8,412,634, which is approximately 7.24% of the company’s market cap and around 2.05% of the total institutional ownership; RA CAPITAL MANAGEMENT, L.P., holding 5,600,000 shares of the stock with an approximate value of $0.68 million in OTIC stocks shares; and ADAGE CAPITAL PARTNERS GP, L.L.C., currently with $0.6 million in OTIC stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Otonomy Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 15 institutional holders increased their position in Otonomy Inc. [NASDAQ:OTIC] by around 1,122,186 shares. Additionally, 20 investors decreased positions by around 972,180 shares, while 20 investors held positions by with 35,068,105 shares. The mentioned changes placed institutional holdings at 37,162,471 shares, according to the latest SEC report filing. OTIC stock had 5 new institutional investments in for a total of 207,313 shares, while 5 institutional investors sold positions of 47,948 shares during the same period.


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