Outlook Therapeutics (NASDAQ:OTLK) Trading Up 1% – What’s Next?

Outlook Therapeutics, Inc. (NASDAQ:OTLK)’s share price shot up 1% during trading on Wednesday . The company traded as high as $5.44 and last traded at $5.28. 145,169 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 344,029 shares. The stock had previously closed at $5.23.

Wall Street Analysts Forecast Growth

OTLK has been the subject of several research analyst reports. Chardan Capital reaffirmed a “buy” rating and set a $53.00 target price on shares of Outlook Therapeutics in a research note on Friday, August 16th. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price objective on shares of Outlook Therapeutics in a report on Thursday, August 15th. BTIG Research reissued a “buy” rating and set a $50.00 target price on shares of Outlook Therapeutics in a research note on Friday, October 18th. Finally, Ascendiant Capital Markets decreased their price target on shares of Outlook Therapeutics from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Tuesday, September 3rd. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $48.20.

Outlook Therapeutics Price Performance

The firm has a market cap of $118.99 million, a price-to-earnings ratio of -0.47 and a beta of 0.62. The company’s 50 day simple moving average is $5.61 and its 200 day simple moving average is $6.90.

Insiders Place Their Bets

In other news, CFO Lawrence A. Kenyon acquired 5,000 shares of Outlook Therapeutics stock in a transaction dated Thursday, September 26th. The shares were acquired at an average cost of $5.69 per share, for a total transaction of $28,450.00. Following the acquisition, the chief financial officer now owns 5,946 shares of the company’s stock, valued at $33,832.74. This trade represents a 528.54 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Outlook Therapeutics

Several large investors have recently bought and sold shares of OTLK. Great Point Partners LLC raised its holdings in Outlook Therapeutics by 15.0% during the second quarter. Great Point Partners LLC now owns 1,701,510 shares of the company’s stock worth $12,557,000 after purchasing an additional 221,510 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Outlook Therapeutics in the 2nd quarter valued at $303,000. Squarepoint Ops LLC acquired a new stake in Outlook Therapeutics during the 2nd quarter worth $232,000. Christensen King & Associates Investment Services Inc. acquired a new stake in Outlook Therapeutics during the 3rd quarter worth $55,000. Finally, AQR Capital Management LLC purchased a new stake in Outlook Therapeutics in the second quarter valued at $75,000. Hedge funds and other institutional investors own 11.20% of the company’s stock.

Outlook Therapeutics Company Profile

Outlook Therapeutics, Inc, operates as a clinical-stage biopharmaceutical company, focuses on developing and commercializing monoclonal antibodies for various ophthalmic indications. Its lead product candidate is ONS-5010, an ophthalmic formulation of bevacizumab product candidate that is in Phase-III clinical trial for the treatment of wet age-related macular degeneration and other retina diseases.