Ghiath Sukhtian Acquires 8,539,709 Shares of Oncobiologics (NASDAQ:OTLK) Stock

Oncobiologics, Inc. (NASDAQ:OTLK) Director Ghiath Sukhtian acquired 8,539,709 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was purchased at an average cost of $0.59 per share, with a total value of $5,038,428.31. Following the completion of the transaction, the director owned 22,092,068 shares in the company, valued at $13,034,320.12. The trade was a 63.01% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link.

Oncobiologics Trading Up 15.5%

NASDAQ:OTLK traded up $0.11 on Monday, reaching $0.84. The stock had a trading volume of 43,910,876 shares, compared to its average volume of 32,706,124. The company has a 50-day moving average of $0.30 and a 200 day moving average of $0.77. The stock has a market cap of $101.88 million, a P/E ratio of -0.72 and a beta of 0.94. Oncobiologics, Inc. has a 12-month low of $0.16 and a 12-month high of $3.39.

Oncobiologics (NASDAQ:OTLK) last issued its earnings results on Friday, May 15th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). The firm had revenue of $0.13 million for the quarter, compared to analyst estimates of $4.39 million. On average, equities analysts predict that Oncobiologics, Inc. will post -0.51 EPS for the current year.

Institutional Investors Weigh In On Oncobiologics

Large investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its stake in shares of Oncobiologics by 74.1% in the first quarter. Goldman Sachs Group Inc. now owns 103,524 shares of the company’s stock valued at $126,000 after purchasing an additional 44,063 shares during the period. AQR Capital Management LLC increased its stake in shares of Oncobiologics by 42.7% in the first quarter. AQR Capital Management LLC now owns 84,671 shares of the company’s stock valued at $103,000 after purchasing an additional 25,351 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in shares of Oncobiologics by 865.2% in the second quarter. Russell Investments Group Ltd. now owns 24,477 shares of the company’s stock valued at $39,000 after purchasing an additional 21,941 shares during the period. Institutional investors and hedge funds own 11.20% of the company’s stock.

Analyst Upgrades and Downgrades

OTLK has been the topic of a number of recent analyst reports. HC Wainwright restated a “neutral” rating on shares of Oncobiologics in a research note on Wednesday, February 18th. Wall Street Zen upgraded shares of Oncobiologics to a “sell” rating in a research note on Saturday. Chardan Capital restated a “neutral” rating on shares of Oncobiologics in a research note on Wednesday, February 18th. Weiss Ratings restated a “sell (e+)” rating on shares of Oncobiologics in a research note on Friday, March 27th. Finally, Ascendiant Capital Markets cut their target price on shares of Oncobiologics from $10.00 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday, March 11th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $4.50.

About Oncobiologics

Oncobiologics, Inc is a clinical-stage biopharmaceutical company specializing in the development of biosimilar therapeutics for cancer and autoimmune diseases. Leveraging recombinant DNA technology and advanced formulation platforms, the company aims to create high-quality, cost-effective alternatives to originator biologic drugs. Oncobiologics’ research focus includes monoclonal antibodies and growth factors that support oncology treatment and immunomodulation.

Founded in 2005 and headquartered in Marlborough, Massachusetts, Oncobiologics maintains research facilities in the Greater Boston area and an integrated manufacturing site in Hyderabad, India, through its wholly owned subsidiary.