Oncobiologics Sees Unusually High Options Volume (NASDAQ:OTLK)

Oncobiologics, Inc. (NASDAQ:OTLK) was the target of unusually large options trading activity on Wednesday. Traders acquired 2,470 call options on the company. This is an increase of 137% compared to the typical daily volume of 1,043 call options.

Oncobiologics Price Performance

NASDAQ:OTLK traded down $0.01 during trading hours on Wednesday, reaching $0.80. The company’s stock had a trading volume of 8,898,252 shares, compared to its average volume of 10,891,623. The company has a market cap of $112.32 million, a price-to-earnings ratio of -0.69 and a beta of 0.96. Oncobiologics has a one year low of $0.16 and a one year high of $3.39. The business’s 50-day moving average is $0.30 and its 200-day moving average is $0.77.

Oncobiologics (NASDAQ:OTLK) last issued its quarterly earnings data on Friday, May 15th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). The company had revenue of $0.13 million for the quarter, compared to analysts’ expectations of $4.39 million. On average, sell-side analysts predict that Oncobiologics will post -0.51 EPS for the current fiscal year.

Analysts Set New Price Targets

OTLK has been the topic of a number of research reports. Wall Street Zen raised shares of Oncobiologics to a “sell” rating in a research note on Saturday. HC Wainwright reaffirmed a “neutral” rating on shares of Oncobiologics in a research note on Wednesday, February 18th. Ascendiant Capital Markets dropped their price target on shares of Oncobiologics from $10.00 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday, March 11th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Oncobiologics in a research note on Friday, March 27th. Finally, Chardan Capital reaffirmed a “neutral” rating on shares of Oncobiologics in a research note on Wednesday, February 18th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $4.50.

Insider Buying and Selling at Oncobiologics

In related news, Director Ghiath M. Sukhtian purchased 8,539,709 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were acquired at an average cost of $0.59 per share, with a total value of $5,038,428.31. Following the completion of the purchase, the director owned 22,092,068 shares of the company’s stock, valued at $13,034,320.12. The trade was a 63.01% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Oncobiologics

A number of large investors have recently bought and sold shares of the business. Russell Investments Group Ltd. boosted its holdings in Oncobiologics by 865.2% during the second quarter. Russell Investments Group Ltd. now owns 24,477 shares of the company’s stock valued at $39,000 after acquiring an additional 21,941 shares during the period. AQR Capital Management LLC boosted its holdings in Oncobiologics by 42.7% during the first quarter. AQR Capital Management LLC now owns 84,671 shares of the company’s stock valued at $103,000 after acquiring an additional 25,351 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in Oncobiologics by 74.1% during the first quarter. Goldman Sachs Group Inc. now owns 103,524 shares of the company’s stock valued at $126,000 after acquiring an additional 44,063 shares during the period. 11.20% of the stock is currently owned by institutional investors.

About Oncobiologics

Oncobiologics, Inc is a clinical-stage biopharmaceutical company specializing in the development of biosimilar therapeutics for cancer and autoimmune diseases. Leveraging recombinant DNA technology and advanced formulation platforms, the company aims to create high-quality, cost-effective alternatives to originator biologic drugs. Oncobiologics’ research focus includes monoclonal antibodies and growth factors that support oncology treatment and immunomodulation.

Founded in 2005 and headquartered in Marlborough, Massachusetts, Oncobiologics maintains research facilities in the Greater Boston area and an integrated manufacturing site in Hyderabad, India, through its wholly owned subsidiary.