Outlook Therapeutics (NASDAQ:OTLK) Shares Up 1.9%

Outlook Therapeutics, Inc. (NASDAQ:OTLKGet Rating)’s stock price shot up 1.9% during trading on Thursday . The company traded as high as $1.08 and last traded at $1.08. 240,465 shares traded hands during trading, a decline of 47% from the average session volume of 457,162 shares. The stock had previously closed at $1.06.

Wall Street Analyst Weigh In

A number of research firms recently commented on OTLK. BTIG Research began coverage on shares of Outlook Therapeutics in a research report on Monday, October 31st. They set a “buy” rating and a $7.00 target price for the company. Brookline Capital Management reissued a “buy” rating on shares of Outlook Therapeutics in a research report on Monday, October 3rd. Chardan Capital began coverage on shares of Outlook Therapeutics in a research report on Tuesday, September 13th. They set a “buy” rating for the company. Finally, Ascendiant Capital Markets decreased their target price on shares of Outlook Therapeutics to $7.00 in a research report on Monday, August 22nd.

Outlook Therapeutics Price Performance

The stock’s 50-day moving average is $1.16 and its 200 day moving average is $1.18. The company has a market cap of $244.24 million, a PE ratio of -3.27 and a beta of 0.69.

Insiders Place Their Bets

In related news, Director Kurt J. Hilzinger purchased 41,798 shares of the firm’s stock in a transaction on Monday, October 3rd. The stock was acquired at an average price of $1.25 per share, with a total value of $52,247.50. Following the completion of the acquisition, the director now owns 361,914 shares in the company, valued at approximately $452,392.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders purchased 74,860 shares of company stock valued at $92,506. Insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA raised its holdings in shares of Outlook Therapeutics by 174.2% in the second quarter. BNP Paribas Arbitrage SA now owns 25,837 shares of the company’s stock worth $26,000 after buying an additional 16,414 shares during the last quarter. Citadel Advisors LLC raised its holdings in shares of Outlook Therapeutics by 210.4% during the third quarter. Citadel Advisors LLC now owns 32,801 shares of the company’s stock worth $40,000 after purchasing an additional 22,232 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Outlook Therapeutics by 160.9% during the third quarter. Tower Research Capital LLC TRC now owns 42,100 shares of the company’s stock worth $51,000 after purchasing an additional 25,965 shares during the last quarter. Flower City Capital raised its holdings in shares of Outlook Therapeutics by 158.9% during the second quarter. Flower City Capital now owns 51,778 shares of the company’s stock worth $53,000 after purchasing an additional 31,778 shares during the last quarter. Finally, Gables Capital Management Inc. raised its holdings in shares of Outlook Therapeutics by 32.3% during the second quarter. Gables Capital Management Inc. now owns 61,500 shares of the company’s stock worth $63,000 after purchasing an additional 15,000 shares during the last quarter. Hedge funds and other institutional investors own 11.71% of the company’s stock.

Outlook Therapeutics Company Profile

(Get Rating)

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, 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.

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