In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Otonomy Inc. (NASDAQ:OTIC) reported that Federated Investors Inc /pa/. has picked up 2,937,800 of common stock as of 2017-02-14.
The acquisition brings the aggregate amount owned by Federated Investors Inc /pa/. to a total of 2,937,800 representing a 9.74% stake in the company.
For those not familiar with the company, 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. Its product candidates include OTIPRIO, OTO-104 and OTO-311. The Company’s product candidate, OTIPRIO, is used for the treatment of pediatric patients with bilateral otitis media with effusion undergoing tympanostomy tube placement (TTP) surgery. Its product candidate, OTO-104, is a sustained-exposure formulation of the steroid dexamethasone in development for the treatment of Meniere’s disease and other inner ear conditions. The Company’s product candidate, OTO-311, is a sustained-exposure formulation of the N-Methyl-D-Aspartate (NMDA) receptor antagonist gacyclidine in development for the treatment of tinnitus.
A glance at Otonomy Inc. (NASDAQ:OTIC)’s key stats reveals a current market capitalization of 460.46 million based on 30.19 million shares outstanding and a price at last close of $15.20 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2015-05-22, Capps picked up 1,600 at a purchase price of $24.35. This brings their total holding to 1,600 as of the date of the filing.
On the sell side, the most recent transaction saw Butt unload 1,456 shares at a sale price of $18.07. This brings their total holding to 9,458.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Otonomy Inc. (NASDAQ:OTIC) as things move forward to see if its progress aligns with these transactions.
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