Short Interest in Outlook Therapeutics, Inc. (NASDAQ:OTLK) Declines By 17.7%

Outlook Therapeutics, Inc. (NASDAQ:OTLK) was the target of a significant drop in short interest during the month of December. As of December 31st, there was short interest totalling 2,890,000 shares, a drop of 17.7% from the December 15th total of 3,510,000 shares. Approximately 18.0% of the company’s shares are short sold. Based on an average daily volume of 1,840,000 shares, the days-to-cover ratio is presently 1.6 days.

Outlook Therapeutics Price Performance

OTLK opened at $2.19 on Friday. Outlook Therapeutics has a 1 year low of $0.87 and a 1 year high of $12.85. The firm has a market capitalization of $54.55 million, a PE ratio of -0.24 and a beta of 0.53. The business’s 50-day moving average is $2.78 and its two-hundred day moving average is $5.39.

Outlook Therapeutics (NASDAQ:OTLK) last issued its quarterly earnings results on Friday, December 27th. The company reported ($0.77) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.06. As a group, sell-side analysts expect that Outlook Therapeutics will post -2.33 EPS for the current year.

Wall Street Analyst Weigh In

OTLK has been the topic of several research reports. HC Wainwright restated a “buy” rating and set a $30.00 price target on shares of Outlook Therapeutics in a research note on Friday. Chardan Capital reiterated a “neutral” rating on shares of Outlook Therapeutics in a research note on Monday, December 2nd. Finally, BTIG Research cut their target price on Outlook Therapeutics from $50.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Outlook Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $32.73.

Institutional Investors Weigh In On Outlook Therapeutics

Large investors have recently modified their holdings of the business. AQR Capital Management LLC purchased a new stake in shares of Outlook Therapeutics during the second quarter worth about $75,000. Christensen King & Associates Investment Services Inc. purchased a new stake in shares of Outlook Therapeutics during the third quarter worth about $55,000. Barclays PLC grew its stake in shares of Outlook Therapeutics by 677.4% during the third quarter. Barclays PLC now owns 20,943 shares of the company’s stock worth $111,000 after acquiring an additional 18,249 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Outlook Therapeutics during the second quarter worth about $232,000. Finally, XTX Topco Ltd acquired a new stake in shares of Outlook Therapeutics during the third quarter worth about $199,000. 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.