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

Outlook Therapeutics, Inc. (NASDAQ:OTLK) was the recipient of a significant decline in short interest during the month of December. As of December 15th, there was short interest totalling 3,510,000 shares, a decline of 15.0% from the November 30th total of 4,130,000 shares. Currently, 23.1% of the company’s shares are short sold. Based on an average daily volume of 1,630,000 shares, the days-to-cover ratio is currently 2.2 days.

Outlook Therapeutics Stock Up 18.2 %

Shares of OTLK traded up $0.31 during trading hours on Friday, reaching $2.01. 4,267,217 shares of the company traded hands, compared to its average volume of 711,314. Outlook Therapeutics has a 12 month low of $0.87 and a 12 month high of $12.85. The company’s fifty day moving average price is $3.81 and its two-hundred day moving average price is $5.89. The company has a market capitalization of $47.55 million, a price-to-earnings ratio of -0.19 and a beta of 0.46.

Outlook Therapeutics (NASDAQ:OTLK) last posted its earnings results on Friday, December 27th. The company reported ($0.77) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.06. On average, analysts expect that Outlook Therapeutics will post -3.84 EPS for the current year.

Hedge Funds Weigh In On Outlook Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in OTLK. Christensen King & Associates Investment Services Inc. purchased a new stake in shares of Outlook Therapeutics in the 3rd quarter worth about $55,000. AQR Capital Management LLC purchased a new stake in Outlook Therapeutics in the second quarter worth about $75,000. Barclays PLC increased its stake in shares of Outlook Therapeutics by 677.4% during the third quarter. Barclays PLC now owns 20,943 shares of the company’s stock valued at $111,000 after purchasing an additional 18,249 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Outlook Therapeutics during the third quarter valued at approximately $199,000. Finally, Squarepoint Ops LLC bought a new stake in shares of Outlook Therapeutics in the 2nd quarter worth approximately $232,000. Hedge funds and other institutional investors own 11.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on OTLK. Ascendiant Capital Markets decreased their target price on shares of Outlook Therapeutics from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Tuesday, September 3rd. Chardan Capital restated a “neutral” rating on shares of Outlook Therapeutics in a research report on Monday, December 2nd. BTIG Research dropped their target price on shares of Outlook Therapeutics from $50.00 to $9.00 and set a “buy” rating for the company in a report on Friday, November 29th. Finally, HC Wainwright restated a “buy” rating and set a $30.00 price target on shares of Outlook Therapeutics in a report on Friday, November 29th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.73.

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.