Outlook Therapeutics, Inc. (NASDAQ:OTLK)’s share price dropped 10.2% during mid-day trading on Tuesday . The company traded as low as $1.88 and last traded at $2.12. Approximately 3,595,877 shares traded hands during trading, a decline of 52% from the average daily volume of 7,530,145 shares. The stock had previously closed at $2.36.
OTLK has been the topic of a number of research analyst reports. Zacks Investment Research downgraded shares of Outlook Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, February 10th. LADENBURG THALM/SH SH reaffirmed a “buy” rating and issued a $6.00 target price on shares of Outlook Therapeutics in a research report on Wednesday, February 17th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $5.38.
The stock’s 50-day moving average price is $1.69 and its two-hundred day moving average price is $1.18. The stock has a market capitalization of $367.68 million, a PE ratio of -1.67 and a beta of 0.46. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.13 and a current ratio of 1.13.
In related news, insider Jeff Evanson sold 56,973 shares of the stock in a transaction dated Friday, February 12th. The shares were sold at an average price of $2.55, for a total transaction of $145,281.15. Following the sale, the insider now directly owns 1,150,484 shares of the company’s stock, valued at approximately $2,933,734.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Syntone Ventures Llc acquired 3,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 3rd. The shares were purchased at an average cost of $1.00 per share, for a total transaction of $3,000,000.00. Following the completion of the transaction, the insider now directly owns 19,823,045 shares in the company, valued at approximately $19,823,045. The disclosure for this purchase can be found here. Corporate insiders own 4.00% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. ExodusPoint Capital Management LP bought a new position in Outlook Therapeutics during the 4th quarter valued at about $49,000. Bank of New York Mellon Corp lifted its stake in Outlook Therapeutics by 103.5% during the 4th quarter. Bank of New York Mellon Corp now owns 103,515 shares of the company’s stock valued at $135,000 after acquiring an additional 52,657 shares during the period. GWM Advisors LLC bought a new position in Outlook Therapeutics during the 4th quarter valued at about $26,000. Arrowstreet Capital Limited Partnership bought a new position in Outlook Therapeutics during the 3rd quarter valued at about $36,000. Finally, LVW Advisors LLC lifted its stake in Outlook Therapeutics by 158.3% during the 3rd quarter. LVW Advisors LLC now owns 1,743,633 shares of the company’s stock valued at $1,255,000 after acquiring an additional 1,068,468 shares during the period. Institutional investors and hedge funds own 3.04% of the company’s stock.
Outlook Therapeutics Company Profile (NASDAQ:OTLK)
Outlook Therapeutics, Inc, a late clinical-stage biopharmaceutical company, focuses on developing and commercializing monoclonal antibodies for various ophthalmic indications. Its lead product candidate is ONS-5010, a proprietary 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.
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