Outlook Therapeutics, Inc. (NASDAQ:OTLK) Sees Large Decrease in Short Interest

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

Analyst Upgrades and Downgrades

Several brokerages have recently commented on OTLK. Chardan Capital reiterated a “neutral” rating on shares of Outlook Therapeutics in a research report on Monday, December 2nd. BTIG Research decreased their price objective 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. HC Wainwright reissued 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 reduced their price target on shares of Outlook Therapeutics from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Tuesday, September 3rd. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.73.

Outlook Therapeutics Stock Up 1.6 %

OTLK stock traded up $0.03 during mid-day trading on Tuesday, reaching $1.89. The company had a trading volume of 850,570 shares, compared to its average volume of 716,219. Outlook Therapeutics has a one year low of $0.87 and a one year high of $12.85. The stock has a market capitalization of $44.71 million, a P/E ratio of -0.18 and a beta of 0.46. The stock’s 50-day simple moving average is $3.73 and its two-hundred day simple moving average is $5.84.

Outlook Therapeutics (NASDAQ:OTLK) last released its quarterly earnings data 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. On average, research analysts forecast that Outlook Therapeutics will post -3.84 EPS for the current fiscal year.

Hedge Funds Weigh In On Outlook Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Great Point Partners LLC raised its stake in shares of Outlook Therapeutics by 15.0% during the second 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 in the last quarter. Squarepoint Ops LLC bought a new stake in shares of Outlook Therapeutics during the 2nd quarter worth about $232,000. AQR Capital Management LLC acquired a new stake in shares of Outlook Therapeutics in the 2nd quarter worth approximately $75,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Outlook Therapeutics in the 2nd quarter worth approximately $303,000. Finally, Christensen King & Associates Investment Services Inc. bought a new position in shares of Outlook Therapeutics in the third quarter valued at approximately $55,000. 11.20% of the stock is currently owned by institutional investors and hedge funds.

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.