Equities research analysts at StockNews.com assumed coverage on shares of Otonomy (NASDAQ:OTIC – Get Rating) in a note issued to investors on Wednesday. The firm set a "hold" rating on the biopharmaceutical company's stock.

Otonomy Price Performance

OTIC stock opened at $0.11 on Wednesday. The company has a market capitalization of $7.47 million, a price-to-earnings ratio of -0.14 and a beta of 1.58. Otonomy has a 12 month low of $0.06 and a 12 month high of $2.59. The firm has a 50 day moving average of $0.11 and a two-hundred day moving average of $0.15.

Institutional Trading of Otonomy

Several large investors have recently added to or reduced their stakes in the business. Two Sigma Investments LP boosted its holdings in shares of Otonomy by 129.2% during the 3rd quarter. Two Sigma Investments LP now owns 142,183 shares of the biopharmaceutical company's stock worth $42,000 after buying an additional 80,153 shares during the period. Requisite Capital Management LLC bought a new stake in shares of Otonomy during the 3rd quarter worth $44,000. State Street Corp boosted its holdings in shares of Otonomy by 5.1% during the 1st quarter. State Street Corp now owns 182,239 shares of the biopharmaceutical company's stock worth $437,000 after buying an additional 8,839 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Otonomy by 17.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 841,694 shares of the biopharmaceutical company's stock valued at $2,020,000 after purchasing an additional 126,747 shares during the period. Finally, Silverarc Capital Management LLC boosted its holdings in Otonomy by 0.6% in the 1st quarter. Silverarc Capital Management LLC now owns 1,207,385 shares of the biopharmaceutical company's stock valued at $2,898,000 after purchasing an additional 7,571 shares during the period. 41.23% of the stock is owned by institutional investors.

About Otonomy

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Otonomy, Inc operates as a biopharmaceutical company. engages in the development of therapeutics for neurotology. The firm's product pipeline includes OTIVIDEX (dexamethasone) Meniere's disease, OTIPRIO (ciprofloxacin otic suspension) acute otitis media with tubes (AOMT), OTO-313 (gacyclidine) tinnitus, OTO-413 (BDNF) hidden hearing Loss, OTO-510 (otoprotectant) prevent CIHL, OTO-6XX (hair cell regeneration) severe hearing loss.

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