Oncobiologics, Inc. (NASDAQ:OTLK) Short Interest Up 65.4% in August

Oncobiologics, Inc. (NASDAQ:OTLK) was the recipient of a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 32,910,138 shares, an increase of 65.4% from the August 15th total of 19,899,576 shares. Based on an average trading volume of 20,062,834 shares, the short-interest ratio is currently 1.6 days. Approximately 13.8% of the shares of the stock are sold short.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Weiss Ratings upgraded shares of Oncobiologics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, August 12th. Ascendiant Capital Markets raised their target price on Oncobiologics from $6.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Wall Street Zen lowered Oncobiologics from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. HC Wainwright boosted their price target on Oncobiologics to $1.60 and gave the stock a “neutral” rating in a report on Monday, July 27th. Finally, BTIG Research restated a “buy” rating and set a $4.00 price objective on shares of Oncobiologics in a research report on Friday, August 14th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Oncobiologics has an average rating of “Hold” and an average target price of $5.20.

Insider Buying and Selling at Oncobiologics

In related news, Director Faisal Ghiath Sukhtian acquired 95,398 shares of the company’s stock in a transaction on Wednesday, July 29th. The stock was purchased at an average cost of $1.05 per share, with a total value of $100,167.90. Following the acquisition, the director directly owned 220,972 shares of the company’s stock, valued at approximately $232,020.60. The trade was a 75.97% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ghiath Sukhtian bought 2,525,252 shares of the business’s stock in a transaction dated Wednesday, August 12th. The shares were bought at an average price of $0.99 per share, with a total value of $2,499,999.48. Following the completion of the transaction, the director owned 24,617,320 shares in the company, valued at approximately $24,371,146.80. This trade represents a 11.43% increase in their position. The disclosure for this purchase is available in the SEC filing. 1.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Oncobiologics

A hedge fund recently bought a new stake in Oncobiologics stock. NewEdge Advisors LLC bought a new stake in Oncobiologics, Inc. (NASDAQ:OTLK) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 16,722 shares of the company’s stock, valued at approximately $27,000. 11.20% of the stock is owned by hedge funds and other institutional investors.

Oncobiologics Trading Up 0.6%

Shares of Oncobiologics stock opened at $0.68 on Thursday. The firm’s 50 day moving average is $0.95 and its 200 day moving average is $0.74. The firm has a market capitalization of $164.79 million, a PE ratio of -0.88 and a beta of 0.74. Oncobiologics has a 1 year low of $0.16 and a 1 year high of $2.54.

Oncobiologics (NASDAQ:OTLK) last issued its earnings results on Friday, August 14th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The business had revenue of $0.01 million for the quarter, compared to analysts’ expectations of $0.97 million. As a group, research analysts anticipate that Oncobiologics will post -0.47 earnings per share for the current year.

About Oncobiologics

Oncobiologics, Inc, now known as Outlook Therapeutics, Inc (NASDAQ: OTLK), is a biopharmaceutical company focused on developing and commercializing ophthalmic medicines. The company specializes in biologic therapies intended to address diseases affecting the eye, with an emphasis on retinal disorders.

The company’s lead product is ONS-5010, an ophthalmic formulation of bevacizumab developed for intravitreal treatment of wet age-related macular degeneration and other retinal conditions.