Otonomy Inc. [OTIC] fell -94.12% so far this year. What now?

Otonomy Inc. [NASDAQ: OTIC] price plunged by -5.49 percent to reach at -$0.01. The company report on November 10, 2022 that Otonomy Reports Third Quarter 2022 Financial Results and Provides Corporate Update.

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A sum of 4922219 shares traded at recent session while its average daily volume was at 12.44M shares. Otonomy Inc. shares reached a high of $0.1267 and dropped to a low of $0.118 until finishing in the latest session at $0.12.

The one-year OTIC stock forecast points to a potential upside of 98.67. The average equity rating for OTIC stock is currently 2.70, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 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 $9.00 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 2.70. 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 0.03 The Price to Book ratio for the last quarter was 0.39.

OTIC Stock Performance Analysis:

Otonomy Inc. [OTIC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.00. With this latest performance, OTIC shares gained by 22.69% in over the last four-week period, additionally sinking by -93.47% over the last 6 months – not to mention a drop of -94.37% 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 47.04, with the RSI for the last a single of trading hit 46.39, and the three-weeks RSI is set at 44.70 for Otonomy Inc. [OTIC]. The present Moving Average for the last 50 days of trading for this stock 0.1375, while it was recorded at 0.1326 for the last single week of trading, and 1.2309 for the last 200 days.

Insight into Otonomy Inc. 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 1.70.

OTIC Stock EPS

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 Position Details

There are presently around $3 million, or 50.90% 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 8,443,134, which is approximately 0.363% of the company’s market cap and around 2.04% of the total institutional ownership; POINT72 ASSET MANAGEMENT, L.P., holding 5,495,000 shares of the stock with an approximate value of $0.67 million in OTIC stocks shares; and SUVRETTA CAPITAL MANAGEMENT, LLC, currently with $0.38 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 17 institutional holders increased their position in Otonomy Inc. [NASDAQ:OTIC] by around 9,169,759 shares. Additionally, 25 investors decreased positions by around 17,775,006 shares, while 14 investors held positions by with 1,612,459 shares. The mentioned changes placed institutional holdings at 28,557,224 shares, according to the latest SEC report filing. OTIC stock had 6 new institutional investments in for a total of 6,538,256 shares, while 17 institutional investors sold positions of 17,213,670 shares during the same period.

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