Traders Buy Large Volume of Call Options on Outlook Therapeutics (NASDAQ:OTLK)

Outlook Therapeutics, Inc. (NASDAQ:OTLK) was the target of unusually large options trading activity on Friday. Investors bought 10,260 call options on the company. This represents an increase of 6,976% compared to the average daily volume of 145 call options.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on OTLK shares. BTIG Research reduced their price target on Outlook Therapeutics from $50.00 to $9.00 and set a “buy” rating on the stock in a research report on Friday. Chardan Capital reiterated a “buy” rating and issued a $53.00 price target on shares of Outlook Therapeutics in a research note on Friday, August 16th. Ascendiant Capital Markets dropped their price target on Outlook Therapeutics from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Tuesday, September 3rd. Finally, HC Wainwright restated a “buy” rating and set a $30.00 price objective on shares of Outlook Therapeutics in a report on Friday. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Outlook Therapeutics has an average rating of “Buy” and a consensus price target of $42.34.

Outlook Therapeutics Trading Up 7.9 %

Shares of OTLK stock traded up $0.14 during trading hours on Friday, hitting $1.84. The company’s stock had a trading volume of 3,896,825 shares, compared to its average volume of 626,192. The stock has a market cap of $43.42 million, a PE ratio of -0.17 and a beta of 0.62. Outlook Therapeutics has a 12-month low of $0.87 and a 12-month high of $12.85. The company has a 50 day moving average of $5.37 and a 200 day moving average of $6.75.

Insiders Place Their Bets

In other news, CFO Lawrence A. Kenyon acquired 5,000 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were purchased at an average price of $5.69 per share, with a total value of $28,450.00. Following the transaction, the chief financial officer now directly owns 5,946 shares in the company, valued at approximately $33,832.74. This represents a 528.54 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Outlook Therapeutics

A number of institutional investors have recently modified their holdings of the stock. Great Point Partners LLC grew 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 acquiring an additional 221,510 shares during the period. Rosalind Advisors Inc. increased its holdings in shares of Outlook Therapeutics by 44.3% during the 2nd quarter. Rosalind Advisors Inc. now owns 450,000 shares of the company’s stock valued at $3,321,000 after purchasing an additional 138,225 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Outlook Therapeutics by 49.2% in the 3rd quarter. Geode Capital Management LLC now owns 341,959 shares of the company’s stock valued at $1,826,000 after purchasing an additional 112,812 shares during the period. LVW Advisors LLC purchased a new stake in Outlook Therapeutics during the second quarter worth $352,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Outlook Therapeutics during the second quarter valued at $303,000. Hedge funds and other institutional investors own 11.20% of the company’s stock.

About Outlook Therapeutics

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.