Outlook Therapeutics, Inc. (NASDAQ:OTLK) Major Shareholder Purchases $1,004,114.90 in Stock

Outlook Therapeutics, Inc. (NASDAQ:OTLK) major shareholder Syntone Ventures Llc bought 823,045 shares of the firm’s stock in a transaction on Wednesday, July 15th. The stock was purchased at an average price of $1.22 per share, with a total value of $1,004,114.90. Following the completion of the acquisition, the insider now owns 16,823,045 shares of the company’s stock, valued at $20,524,114.90. The purchase was disclosed in a filing with the SEC, which is available through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Shares of OTLK opened at $1.38 on Friday. The firm has a market cap of $126.10 million, a PE ratio of -0.97 and a beta of 0.35. The firm’s 50 day moving average price is $1.35 and its 200 day moving average price is $0.94. Outlook Therapeutics, Inc. has a twelve month low of $0.50 and a twelve month high of $2.38.

Outlook Therapeutics (NASDAQ:OTLK) last issued its quarterly earnings data on Friday, May 15th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.26). As a group, research analysts expect that Outlook Therapeutics, Inc. will post -0.85 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of OTLK. Ladenburg Thalmann Financial Services Inc. raised its position in Outlook Therapeutics by 173.7% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 44,032 shares of the company’s stock valued at $26,000 after acquiring an additional 27,946 shares in the last quarter. Dfpg Investments LLC raised its position in Outlook Therapeutics by 157.4% during the first quarter. Dfpg Investments LLC now owns 34,750 shares of the company’s stock valued at $25,000 after acquiring an additional 21,250 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Outlook Therapeutics during the first quarter valued at approximately $31,000. Sabby Management LLC raised its position in Outlook Therapeutics by 731.1% during the first quarter. Sabby Management LLC now owns 3,232,342 shares of the company’s stock valued at $1,943,000 after acquiring an additional 2,843,406 shares in the last quarter. Finally, Advisor Group Holdings Inc. bought a new position in Outlook Therapeutics during the first quarter valued at approximately $30,000. 6.54% of the stock is currently owned by hedge funds and other institutional investors.

OTLK has been the subject of a number of research analyst reports. Brookline Capital Management initiated coverage on shares of Outlook Therapeutics in a research report on Tuesday, May 5th. They issued a “buy” rating for the company. Oppenheimer initiated coverage on shares of Outlook Therapeutics in a research report on Wednesday, June 3rd. They issued a “buy” rating and a $9.00 price target for the company. HC Wainwright reduced their price target on shares of Outlook Therapeutics from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. Finally, LADENBURG THALM/SH SH reissued a “buy” rating and issued a $6.00 price target on shares of Outlook Therapeutics in a research report on Thursday, June 4th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $5.94.

Outlook Therapeutics Company Profile

Outlook Therapeutics, Inc, a late clinical-stage biopharmaceutical company, focuses on developing and commercializing monoclonal antibody for various ophthalmic indications. Its lead product candidate is ONS-5010, a proprietary ophthalmic bevacizumab product candidate that is in first clinical trial for the treatment of wet age related macular degeneration and other retina diseases.

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