OrbiMed Advisors is Buying Otonomy Inc. (NASDAQ:OTIC) Shares

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In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Otonomy Inc. (NASDAQ:OTIC) reported that OrbiMed Advisors has picked up 1,397,567  of common stock as of 2017-07-06.

The acquisition brings the aggregate amount owned by OrbiMed Advisors to a total of 1,397,567 representing a 4.62% 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’s product candidates include OTIPRIO, OTO-104 and OTO-311. OTIPRIO is a single-dose, physician-administered antibacterial, which is used for the treatment of pediatric patients with bilateral otitis media with effusion undergoing tympanostomy tube placement (TTP) surgery and is available for commercial purchase. 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. OTO-311 is a sustained-exposure formulation of the N-Methyl-D-Aspartate (NMDA) receptor antagonist gacyclidine in development for the treatment of tinnitus. It also has various other product candidates, which target sensorinerual hearing loss, including age-related hearing loss, also known as presbycusis.

A glance at Otonomy Inc. (NASDAQ:OTIC)’s key stats reveals a current market capitalization of $567.18 Million based on $30.26 Million shares outstanding and a price at last close of $18.55 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 Loumeau unload 1,206 shares at a sale price of $18.75. This brings their total holding to 0.

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 Otonomy Inc. (NASDAQ:OTIC) as things move forward to see if its progress aligns with these transactions.

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