Outlook Therapeutics, Inc. (NASDAQ:OTLK) Short Interest Update

Outlook Therapeutics, Inc. (NASDAQ:OTLK) was the target of a significant decrease in short interest in the month of December. As of December 15th, there was short interest totalling 3,510,000 shares, a decrease of 15.0% from the November 30th total of 4,130,000 shares. Approximately 23.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,630,000 shares, the days-to-cover ratio is currently 2.2 days.

Institutional Trading of Outlook Therapeutics

A number of hedge funds have recently modified their holdings of the business. Great Point Partners LLC lifted its position in shares of Outlook Therapeutics by 15.0% in 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. Geode Capital Management LLC grew its holdings 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 acquiring an additional 112,812 shares in the last quarter. State Street Corp increased its stake in shares of Outlook Therapeutics by 10.0% in the third quarter. State Street Corp now owns 232,542 shares of the company’s stock worth $1,242,000 after acquiring an additional 21,201 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Outlook Therapeutics by 55.1% during the third 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 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.

Analysts Set New Price Targets

A number of brokerages have weighed in on OTLK. BTIG Research cut their price target on shares of Outlook Therapeutics from $50.00 to $9.00 and set a “buy” rating for the company in a report on Friday, November 29th. Chardan Capital reissued a “neutral” rating on shares of Outlook Therapeutics in a research note on Monday, December 2nd. HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of Outlook Therapeutics in a report on Friday, November 29th. Finally, 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 report on Tuesday, September 3rd. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.73.

Outlook Therapeutics Trading Up 1.6 %

OTLK stock traded up $0.03 during mid-day trading on Tuesday, reaching $1.89. 850,570 shares of the stock traded hands, compared to its average volume of 716,219. Outlook Therapeutics has a 52-week low of $0.87 and a 52-week high of $12.85. The stock’s fifty day moving average is $3.73 and its 200-day moving average is $5.84. The company has a market cap of $44.71 million, a P/E ratio of -0.18 and a beta of 0.46.

Outlook Therapeutics (NASDAQ:OTLK) last issued its quarterly earnings results on Friday, December 27th. The company reported ($0.77) EPS for the quarter, beating the consensus estimate of ($0.83) by $0.06. Equities research analysts expect that Outlook Therapeutics will post -3.84 earnings per share for the current year.

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.