Otonomy Inc. (OTIC) is primed for evolution with the beta value of 2.00 – Invest Chronicle
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Otonomy Inc. (OTIC) is primed for evolution with the beta value of 2.00

Otonomy Inc. (OTIC) is priced at $2.32 after the most recent trading session. At the very opening of the session, the stock price was $2.20 and reached a high price of $2.45, prior to closing the session it reached the value of $2.17. The stock touched a low price of $2.176.

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Recently in News on April 8, 2021, Otonomy Announces Pricing of $30.1 Million Public Offering. Otonomy, Inc. (Nasdaq: OTIC), a biopharmaceutical company dedicated to the development of innovative therapeutics for neurotology, today announced the pricing of an underwritten public offering of 6,288,890 shares of its common stock at a price to the public of $2.25 per share and, to certain investors in lieu of common stock, pre-funded warrants to purchase up to an aggregate of 7,111,110 shares of its common stock at a purchase price of $2.249 per each pre-funded warrant, which represents the per share public offering price for the common stock less the $0.001 per share exercise price for each such pre-funded warrant. The aggregate gross proceeds from this offering are expected to be approximately $30.1 million, before deducting underwriting discounts and commissions and other offering expenses payable by Otonomy. In addition, Otonomy has granted the underwriters a 30-day option to purchase up to an additional 2,010,000 shares of its common stock in connection with the public offering at the public offering price per share, less underwriting discounts and commissions. All of the shares of common stock and pre-funded warrants are being sold by Otonomy. The offering is expected to close on or about April 12, 2021, subject to customary closing conditions. You can read further details here

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Otonomy Inc. had a pretty favorable run when it comes to the market performance. The 1-year high price for the company’s stock is recorded $6.98 on 01/06/21, with the lowest value was $2.15 for the same time period, recorded on 04/13/21.

Otonomy Inc. (OTIC) full year performance was 9.43%

Price records that include history of low and high prices in the period of 52 weeks can tell a lot about the stock’s existing status and the future performance. Presently, Otonomy Inc. shares are logging -66.78% during the 52-week period from high price, and 18.37% higher than the lowest price point for the same timeframe. The stock’s price range for the 52-week period managed to maintain the performance between $1.96 and $6.98.

The company’s shares, operating in the sector of Healthcare managed to top a trading volume set approximately around 1332342 for the day, which was evidently higher, when compared to the average daily volumes of the shares.

When it comes to the year-to-date metrics, the Otonomy Inc. (OTIC) recorded performance in the market was -64.14%, having the revenues showcasing -58.87% on a quarterly basis in comparison with the same period year before. At the time of this writing, the total market value of the company is set at 110.59M, as it employees total of 56 workers.

Analysts verdict on Otonomy Inc. (OTIC)

During the last month, 0 analysts gave the Otonomy Inc. a BUY rating, 0 of the polled analysts branded the stock as an OVERWEIGHT, 0 analysts were recommending to HOLD this stock, 0 of them gave the stock UNDERWEIGHT rating, and 0 of the polled analysts provided SELL rating.

According to the data provided on Barchart.com, the moving average of the company in the 100-day period was set at 4.28, with a change in the price was noted -2.02. In a similar fashion, Otonomy Inc. posted a movement of -46.54% for the period of last 100 days, recording 948,297 in trading volumes.

Total Debt to Equity Ratio (D/E) can also provide valuable insight into the company’s financial health and market status. The debt to equity ratio can be calculated by dividing the present total liabilities of a company by shareholders’ equity. Debt to Equity thus makes a valuable metrics that describes the debt, company is using in order to support assets, correlating with the value of shareholders’ equity The total Debt to Equity ratio for OTIC is recording 0.23 at the time of this writing. In addition, long term Debt to Equity ratio is set at 0.23.

Otonomy Inc. (OTIC): Technical Analysis

Raw Stochastic average of Otonomy Inc. in the period of last 50 days is set at 4.75%. The result represents downgrade in oppose to Raw Stochastic average for the period of the last 20 days, recording 20.24%. In the last 20 days, the company’s Stochastic %K was 8.79% and its Stochastic %D was recorded 5.07%.

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Let’s take a glance in the erstwhile performances of Otonomy Inc., multiple moving trends are noted. Year-to-date Price performance of the company’s stock appears to be encouraging, given the fact the metric is recording -64.14%. Additionally, trading for the stock in the period of the last six months notably deteriorated by -45.79%, alongside a boost of 9.43% for the period of the last 12 months. The shares increased approximately by -5.31% in the 7-day charts and went up by -16.25% in the period of the last 30 days. Common stock shares were lifted by -58.87% during last recorded quarter.

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