Outlook Therapeutics, Inc. (NASDAQ:OTLK) Sees Significant Decline in Short Interest

Outlook Therapeutics, Inc. (NASDAQ:OTLK) was the recipient of a large decrease in short interest in the month of December. As of December 31st, there was short interest totalling 2,890,000 shares, a decrease of 17.7% from the December 15th total of 3,510,000 shares. Based on an average trading volume of 1,840,000 shares, the short-interest ratio is currently 1.6 days. Currently, 18.0% of the company’s stock are sold short.

Outlook Therapeutics Stock Up 1.8 %

OTLK traded up $0.04 during midday trading on Friday, hitting $2.23. 1,068,963 shares of the company traded hands, compared to its average volume of 1,067,862. The company’s 50-day moving average is $2.70 and its 200 day moving average is $5.34. The firm has a market capitalization of $55.55 million, a PE ratio of -0.25 and a beta of 0.53. Outlook Therapeutics has a 52 week low of $0.87 and a 52 week high of $12.85.

Outlook Therapeutics (NASDAQ:OTLK) last issued its earnings results on Friday, December 27th. The company reported ($0.77) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.83) by $0.06. On average, sell-side analysts predict that Outlook Therapeutics will post -2.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on OTLK shares. BTIG Research lowered their target price on Outlook Therapeutics from $50.00 to $9.00 and set a “buy” rating for the company in a research note on Friday, November 29th. Guggenheim restated a “buy” rating and issued a $12.00 price objective on shares of Outlook Therapeutics in a report on Friday. HC Wainwright reissued a “buy” rating and issued a $30.00 target price on shares of Outlook Therapeutics in a report on Friday. Finally, Chardan Capital reaffirmed a “neutral” rating on shares of Outlook Therapeutics in a research report on Monday, December 2nd. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $28.07.

Institutional Trading of Outlook Therapeutics

A number of hedge funds have recently bought and sold shares of OTLK. Great Point Partners LLC increased its position in shares of Outlook Therapeutics by 15.0% during the 2nd quarter. Great Point Partners LLC now owns 1,701,510 shares of the company’s stock valued at $12,557,000 after purchasing an additional 221,510 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Outlook Therapeutics by 49.2% during the 3rd quarter. Geode Capital Management LLC now owns 341,959 shares of the company’s stock valued at $1,826,000 after buying an additional 112,812 shares in the last quarter. State Street Corp grew its stake in shares of Outlook Therapeutics by 10.0% during the 3rd quarter. State Street Corp now owns 232,542 shares of the company’s stock valued at $1,242,000 after acquiring an additional 21,201 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Outlook Therapeutics by 55.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 51,459 shares of the company’s stock worth $275,000 after acquiring an additional 18,287 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Outlook Therapeutics during the 2nd quarter worth approximately $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.