Otonomy, Inc. (OTIC) Stake Reduced by FT Options LLC

FT Options LLC decreased its position in Otonomy, Inc. (NASDAQ:OTIC) by 14.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 118,473 shares of the biopharmaceutical company’s stock after selling 20,612 shares during the period. Otonomy accounts for about 2.2% of FT Options LLC’s investment portfolio, making the stock its 9th largest position. FT Options LLC owned approximately 0.39% of Otonomy worth $1,884,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in OTIC. Creative Planning boosted its stake in Otonomy by 411.4% in the third quarter. Creative Planning now owns 6,648 shares of the biopharmaceutical company’s stock valued at $121,000 after buying an additional 5,348 shares during the period. Emerald Acquisition Ltd. purchased a new stake in shares of Otonomy during the second quarter worth $153,000. Wells Fargo & Company MN boosted its stake in shares of Otonomy by 74.4% in the third quarter. Wells Fargo & Company MN now owns 10,808 shares of the biopharmaceutical company’s stock worth $197,000 after buying an additional 4,610 shares during the last quarter. M&T Bank Corp purchased a new stake in shares of Otonomy during the third quarter worth $209,000. Finally, Rothschild Asset Management Inc. boosted its stake in shares of Otonomy by 2.5% in the third quarter. Rothschild Asset Management Inc. now owns 16,062 shares of the biopharmaceutical company’s stock worth $292,000 after buying an additional 396 shares during the last quarter. Hedge funds and other institutional investors own 83.55% of the company’s stock.

Institutional Ownership by Quarter for Otonomy (NASDAQ:OTIC)

Otonomy, Inc. (NASDAQ:OTIC) traded up 0.33% on Monday, reaching $15.30. The company had a trading volume of 126,861 shares. Otonomy, Inc. has a 52-week low of $10.50 and a 52-week high of $19.38. The firm’s market capitalization is $461.97 million. The stock’s 50-day moving average price is $15.47 and its 200 day moving average price is $16.49.

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A number of equities research analysts have recently weighed in on the company. Zacks Investment Research raised Otonomy from a “sell” rating to a “hold” rating in a research note on Thursday, January 12th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Otonomy in a research note on Wednesday, November 2nd.

In related news, insider Carl Lebel sold 10,625 shares of Otonomy stock in a transaction on Monday, November 21st. The shares were sold at an average price of $18.07, for a total value of $191,993.75. Following the completion of the sale, the insider now owns 13,001 shares of the company’s stock, valued at approximately $234,928.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 17.90% of the stock is currently owned by insiders.

About Otonomy

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 has developed a technology referred to as sustained-exposure that is designed to deliver drug that is retained in the ear for an extended period of time following a local administration.

5 Day Chart for NASDAQ:OTIC

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