Ghiath Sukhtian Acquires 8,539,709 Shares of Oncobiologics (NASDAQ:OTLK) Stock

Oncobiologics, Inc. (NASDAQ:OTLK) Director Ghiath Sukhtian acquired 8,539,709 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were bought at an average cost of $0.59 per share, for a total transaction of $5,038,428.31. Following the acquisition, the director owned 22,092,068 shares of the company’s stock, valued at $13,034,320.12. This represents a 63.01% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Oncobiologics Trading Down 3.5%

Shares of NASDAQ:OTLK opened at $0.81 on Wednesday. The firm has a 50 day simple moving average of $0.30 and a 200-day simple moving average of $0.77. Oncobiologics, Inc. has a twelve month low of $0.16 and a twelve month high of $3.39. The company has a market capitalization of $113.94 million, a PE ratio of -0.70 and a beta of 0.96.

Oncobiologics (NASDAQ:OTLK) last posted its earnings results on Friday, May 15th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). The company had revenue of $0.13 million for the quarter, compared to analysts’ expectations of $4.39 million. As a group, equities research analysts predict that Oncobiologics, Inc. will post -0.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Oncobiologics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. raised its position in Oncobiologics by 865.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 24,477 shares of the company’s stock worth $39,000 after buying an additional 21,941 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Oncobiologics by 74.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 103,524 shares of the company’s stock worth $126,000 after acquiring an additional 44,063 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in shares of Oncobiologics by 42.7% in the first quarter. AQR Capital Management LLC now owns 84,671 shares of the company’s stock valued at $103,000 after acquiring an additional 25,351 shares in the last quarter. 11.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on OTLK. Ascendiant Capital Markets cut their target price on Oncobiologics from $10.00 to $6.00 and set a “buy” rating on the stock in a research report on Wednesday, March 11th. Wall Street Zen upgraded Oncobiologics to a “sell” rating in a research note on Saturday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Oncobiologics in a research report on Friday, March 27th. BTIG Research reiterated a “neutral” rating on shares of Oncobiologics in a research note on Monday, May 18th. Finally, Chardan Capital reissued a “neutral” rating on shares of Oncobiologics in a report on Wednesday, February 18th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $4.50.

Oncobiologics Company Profile

Oncobiologics, Inc is a clinical-stage biopharmaceutical company specializing in the development of biosimilar therapeutics for cancer and autoimmune diseases. Leveraging recombinant DNA technology and advanced formulation platforms, the company aims to create high-quality, cost-effective alternatives to originator biologic drugs. Oncobiologics’ research focus includes monoclonal antibodies and growth factors that support oncology treatment and immunomodulation.

Founded in 2005 and headquartered in Marlborough, Massachusetts, Oncobiologics maintains research facilities in the Greater Boston area and an integrated manufacturing site in Hyderabad, India, through its wholly owned subsidiary.