Short Interest in Outlook Therapeutics, Inc. (NASDAQ:OTLK) Decreases By 15.0%

Outlook Therapeutics, Inc. (NASDAQ:OTLK) was the recipient of a large drop in short interest in the month of April. As of April 15th, there was short interest totalling 1,130,000 shares, a drop of 15.0% from the March 31st total of 1,330,000 shares. Based on an average trading volume of 639,000 shares, the days-to-cover ratio is presently 1.8 days. Currently, 7.4% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on OTLK. Brookline Capital Management upgraded Outlook Therapeutics from a “hold” rating to a “buy” rating and set a $31.40 price objective for the company in a research report on Thursday, January 25th. Guggenheim raised Outlook Therapeutics from a “neutral” rating to a “buy” rating and set a $40.00 price target for the company in a research note on Thursday, January 25th. HC Wainwright raised their price target on Outlook Therapeutics to $30.00 and gave the stock a “buy” rating in a research note on Monday, March 25th. Chardan Capital raised Outlook Therapeutics from a “neutral” rating to a “buy” rating and set a $60.00 price objective on the stock in a research note on Thursday, February 15th. Finally, BTIG Research raised Outlook Therapeutics from a “neutral” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Wednesday, March 27th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $46.43.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in OTLK. Gables Capital Management Inc. increased its position in Outlook Therapeutics by 132.3% in the 3rd quarter. Gables Capital Management Inc. now owns 154,500 shares of the company’s stock worth $34,000 after buying an additional 88,000 shares during the period. Scotia Capital Inc. grew its holdings in shares of Outlook Therapeutics by 420.9% during the 3rd quarter. Scotia Capital Inc. now owns 338,439 shares of the company’s stock worth $75,000 after purchasing an additional 273,463 shares in the last quarter. Finally, Rosalind Advisors Inc. acquired a new stake in shares of Outlook Therapeutics during the 1st quarter worth approximately $3,723,000. 11.20% of the stock is owned by institutional investors.

Outlook Therapeutics Stock Down 2.0 %

Shares of NASDAQ OTLK opened at $8.92 on Wednesday. The business’s 50 day moving average is $8.56 and its two-hundred day moving average is $8.62. The company has a market cap of $116.05 million, a P/E ratio of -2.23 and a beta of 0.04. Outlook Therapeutics has a 12 month low of $4.00 and a 12 month high of $40.60.

Outlook Therapeutics (NASDAQ:OTLK) last issued its quarterly earnings results on Wednesday, February 14th. The company reported ($0.80) EPS for the quarter, topping the consensus estimate of ($1.00) by $0.20. Sell-side analysts expect that Outlook Therapeutics will post -2.99 earnings per share for the current fiscal year.

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.