Otonomy is a biopharmaceutical company dedicated to the development of innovative therapeutics for neurotology. The company pioneered the application of drug delivery technology to the ear in order to develop products that achieve sustained drug exposure from a single local administration. This approach is covered by a broad patent estate and is being utilized to develop a pipeline of products addressing important unmet medical needs including Ménière’s disease, hearing loss, and tinnitus.
What are other large shareholders doing?
Baker Bros. Advisors Lp holds 8,412,634 shares representing 14.76% ownership of the company. In it’s prior filing, the firm reported owning 7,844,692 shares, representing an increase of 6.75%. The firm decreased its portfolio allocation in OTIC by 8.24% over the last quarter.
Suvretta Capital Management, Llc holds 3,144,196 shares representing 5.52% ownership of the company. No change in the last quarter.
DAFNA Capital Management LLC holds 1,470,199 shares representing 2.58% ownership of the company. In it’s prior filing, the firm reported owning 1,497,514 shares, representing a decrease of 1.86%. The firm decreased its portfolio allocation in OTIC by 11.00% over the last quarter.
Avidity Partners Management LP holds 1,000,000 shares representing 1.75% ownership of the company. In it’s prior filing, the firm reported owning 1,349,905 shares, representing a decrease of 34.99%. The firm decreased its portfolio allocation in OTIC by 29.22% over the last quarter.
What is the overall institutional sentiment?
There are 91 funds or institutions reporting positions in Otonomy Inc. This is a decrease of 7 owner(s) or 7.14%.
Average portfolio weight of all funds dedicated to Otonomy Inc is 0.0270%, a decrease of 34.4276%. Total shares owned by institutions decreased in the last three months by 4.22% to 36,167,261 shares.
Based on this information, institutional sentiment is bearish.
This article originally appeared on Fintel
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