Traders Buy High Volume of Call Options on Oncobiologics (NASDAQ:OTLK)

Oncobiologics, Inc. (NASDAQ:OTLK) was the recipient of unusually large options trading on Monday. Stock investors acquired 7,771 call options on the stock. This represents an increase of 132% compared to the average volume of 3,355 call options.

Insider Buying and Selling at Oncobiologics

In other Oncobiologics news, Director Ghiath M. Sukhtian purchased 8,539,709 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was purchased at an average cost of $0.59 per share, with a total value of $5,038,428.31. Following the purchase, the director owned 22,092,068 shares of the company’s stock, valued at approximately $13,034,320.12. The trade was a 63.01% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. raised its stake in shares of Oncobiologics by 865.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 24,477 shares of the company’s stock valued at $39,000 after buying an additional 21,941 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Oncobiologics by 42.7% in the first quarter. AQR Capital Management LLC now owns 84,671 shares of the company’s stock worth $103,000 after buying an additional 25,351 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Oncobiologics by 74.1% in the first quarter. Goldman Sachs Group Inc. now owns 103,524 shares of the company’s stock worth $126,000 after buying an additional 44,063 shares during the last quarter. 11.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on OTLK shares. Ascendiant Capital Markets lifted their price target on shares of Oncobiologics from $6.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. HC Wainwright lifted their target price on Oncobiologics to $1.60 and gave the company a “neutral” rating in a research report on Monday. Weiss Ratings upgraded Oncobiologics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, June 24th. Wall Street Zen lowered Oncobiologics from a “hold” rating to a “sell” rating in a research note on Saturday, July 18th. Finally, BTIG Research upgraded Oncobiologics from a “neutral” rating to a “buy” rating and set a $4.00 price objective for the company in a report on Monday. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Oncobiologics currently has an average rating of “Hold” and a consensus target price of $4.65.

Oncobiologics Price Performance

Shares of OTLK stock opened at $1.06 on Tuesday. The stock’s fifty day moving average price is $1.19 and its 200 day moving average price is $0.66. Oncobiologics has a 1-year low of $0.16 and a 1-year high of $3.39. The company has a market cap of $158.25 million, a price-to-earnings ratio of -0.91 and a beta of 0.77.

Oncobiologics (NASDAQ:OTLK) last released its quarterly earnings results on Friday, May 15th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). The business had revenue of $0.13 million during the quarter, compared to the consensus estimate of $4.39 million. As a group, equities research analysts anticipate that Oncobiologics will post -0.48 earnings per share for the current year.

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.