Traders Buy High Volume of Outlook Therapeutics Call Options (NASDAQ:OTLK)

Outlook Therapeutics, Inc. (NASDAQ:OTLK) was the recipient of unusually large options trading activity on Friday. Stock investors bought 10,260 call options on the company. This represents an increase of approximately 6,976% compared to the average volume of 145 call options.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on OTLK. BTIG Research dropped their price target on shares of Outlook Therapeutics from $50.00 to $9.00 and set a “buy” rating for the company in a research note on Friday. Ascendiant Capital Markets cut their target price on shares of Outlook Therapeutics from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Tuesday, September 3rd. Chardan Capital reiterated a “buy” rating and issued a $53.00 price target on shares of Outlook Therapeutics in a research note on Friday, August 16th. Finally, HC Wainwright reissued a “buy” rating and issued a $30.00 price objective on shares of Outlook Therapeutics in a report on Friday. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $42.34.

Outlook Therapeutics Stock Up 20.6 %

Shares of NASDAQ OTLK opened at $2.05 on Friday. The firm’s 50-day moving average price is $5.29 and its two-hundred day moving average price is $6.71. Outlook Therapeutics has a 52-week low of $0.87 and a 52-week high of $12.85. The stock has a market capitalization of $48.50 million, a P/E ratio of -0.19 and a beta of 0.62.

Insiders Place Their Bets

In other Outlook Therapeutics news, CFO Lawrence A. Kenyon acquired 5,000 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were bought at an average cost of $5.69 per share, for a total transaction of $28,450.00. Following the acquisition, the chief financial officer now directly owns 5,946 shares of the company’s stock, valued at $33,832.74. This trade represents a 528.54 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.40% of the stock is currently owned by company insiders.

Institutional Trading of Outlook Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in OTLK. AQR Capital Management LLC acquired a new stake in Outlook Therapeutics in the second quarter worth $75,000. Christensen King & Associates Investment Services Inc. bought a new position in shares of Outlook Therapeutics during the third quarter worth about $55,000. Barclays PLC increased its holdings in shares of Outlook Therapeutics by 677.4% in the 3rd quarter. Barclays PLC now owns 20,943 shares of the company’s stock worth $111,000 after acquiring an additional 18,249 shares during the period. Charles Schwab Investment Management Inc. lifted its position 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 valued at $275,000 after purchasing an additional 18,287 shares during the last quarter. Finally, State Street Corp boosted its stake in 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 purchasing an additional 21,201 shares during the period. 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.