Christensen King & Associates Investment Services Inc. Makes New Investment in Outlook Therapeutics, Inc. (NASDAQ:OTLK)

Christensen King & Associates Investment Services Inc. acquired a new position in Outlook Therapeutics, Inc. (NASDAQ:OTLK) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 10,276 shares of the company’s stock, valued at approximately $55,000.

A number of other hedge funds have also recently added to or reduced their stakes in OTLK. Rosalind Advisors Inc. boosted its holdings in shares of Outlook Therapeutics by 44.3% during the second quarter. Rosalind Advisors Inc. now owns 450,000 shares of the company’s stock valued at $3,321,000 after acquiring an additional 138,225 shares during the period. LVW Advisors LLC acquired a new position in shares of Outlook Therapeutics during the second quarter valued at $352,000. Great Point Partners LLC boosted its holdings in shares of Outlook Therapeutics by 15.0% during the second quarter. Great Point Partners LLC now owns 1,701,510 shares of the company’s stock valued at $12,557,000 after acquiring an additional 221,510 shares during the period. Squarepoint Ops LLC acquired a new position in shares of Outlook Therapeutics during the second quarter valued at $232,000. Finally, AQR Capital Management LLC acquired a new position in shares of Outlook Therapeutics during the second quarter valued at $75,000. Institutional investors and hedge funds own 11.20% of the company’s stock.

Insider Activity

In other news, CFO Lawrence A. Kenyon purchased 5,000 shares of Outlook Therapeutics stock in a transaction dated Thursday, September 26th. The stock was acquired 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 in the company, valued at $33,832.74. This represents a 500.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.40% of the stock is owned by corporate insiders.

Outlook Therapeutics Stock Down 0.5 %

Shares of OTLK traded down $0.03 during trading hours on Tuesday, reaching $5.66. The company’s stock had a trading volume of 148,448 shares, compared to its average volume of 352,897. The company has a 50 day moving average of $6.36 and a two-hundred day moving average of $7.34. The firm has a market cap of $132.48 million, a price-to-earnings ratio of -0.50 and a beta of 0.62. Outlook Therapeutics, Inc. has a 1-year low of $4.61 and a 1-year high of $13.32.

Outlook Therapeutics (NASDAQ:OTLK) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.83) earnings per share for the quarter, beating the consensus estimate of ($1.06) by $0.23. As a group, analysts forecast that Outlook Therapeutics, Inc. will post -3.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on OTLK. Ascendiant Capital Markets reduced their price target on shares of Outlook Therapeutics from $35.00 to $33.00 and set a “buy” rating for the company in a report on Tuesday, September 3rd. Chardan Capital reissued a “buy” rating and set a $53.00 price target on shares of Outlook Therapeutics in a report on Friday, August 16th. HC Wainwright restated a “buy” rating and set a $30.00 price objective on shares of Outlook Therapeutics in a research note on Thursday, August 15th. Finally, BTIG Research restated a “buy” rating and set a $50.00 price objective on shares of Outlook Therapeutics in a research note on Friday. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, Outlook Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $48.20.

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.