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

Outlook Therapeutics, Inc. (NASDAQ:OTLK) was the recipient of a significant decrease in short interest in the month of December. As of December 31st, there was short interest totalling 2,890,000 shares, a decrease of 17.7% from the December 15th total of 3,510,000 shares. Currently, 18.0% of the shares of the stock are sold short. Based on an average daily volume of 1,840,000 shares, the days-to-cover ratio is currently 1.6 days.

Institutional Investors Weigh In On Outlook Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Great Point Partners LLC grew its position in Outlook Therapeutics by 15.0% during the 2nd quarter. Great Point Partners LLC now owns 1,701,510 shares of the company’s stock worth $12,557,000 after acquiring an additional 221,510 shares during the last quarter. Geode Capital Management LLC grew its holdings in Outlook Therapeutics by 49.2% in the 3rd quarter. Geode Capital Management LLC now owns 341,959 shares of the company’s stock worth $1,826,000 after acquiring an additional 112,812 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Outlook Therapeutics in the second quarter worth about $303,000. XTX Topco Ltd bought a new stake in shares of Outlook Therapeutics in the third quarter worth about $199,000. Finally, Squarepoint Ops LLC purchased a new position in Outlook Therapeutics during the 2nd quarter valued at about $232,000. Institutional investors own 11.20% of the company’s stock.

Outlook Therapeutics Stock Performance

OTLK traded up $0.04 during midday trading on Friday, hitting $2.23. The stock had a trading volume of 1,068,963 shares, compared to its average volume of 1,067,862. Outlook Therapeutics has a 1 year low of $0.87 and a 1 year high of $12.85. The business has a fifty day moving average of $2.70 and a 200 day moving average of $5.34. The company has a market cap of $55.55 million, a P/E ratio of -0.25 and a beta of 0.53.

Outlook Therapeutics (NASDAQ:OTLK) last released its 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. On average, equities research analysts anticipate that Outlook Therapeutics will post -2.33 earnings per share for the current year.

Analysts Set New Price Targets

OTLK has been the subject of several research analyst reports. BTIG Research dropped their price objective on Outlook Therapeutics from $50.00 to $9.00 and set a “buy” rating for the company in a research note on Friday, November 29th. Guggenheim reissued a “buy” rating and set a $12.00 price objective on shares of Outlook Therapeutics in a report on Friday. Chardan Capital restated a “neutral” rating on shares of Outlook Therapeutics in a research report on Monday, December 2nd. Finally, HC Wainwright reiterated a “buy” rating and set a $30.00 target price on shares of Outlook Therapeutics in a research report on Friday. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Outlook Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $28.07.

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.