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

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on OTLK shares. Chardan Capital restated a “neutral” rating on shares of Outlook Therapeutics in a research note on Monday, December 2nd. HC Wainwright restated a “buy” rating and set a $30.00 price target on shares of Outlook Therapeutics in a research note on Friday, November 29th. Ascendiant Capital Markets reduced their price objective on shares of Outlook Therapeutics from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Tuesday, September 3rd. Finally, BTIG Research dropped their target price on Outlook Therapeutics from $50.00 to $9.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Outlook Therapeutics has an average rating of “Moderate Buy” and an average price target of $32.73.

Outlook Therapeutics Price Performance

NASDAQ:OTLK traded up $0.31 during trading hours on Friday, hitting $2.01. The stock had a trading volume of 4,267,217 shares, compared to its average volume of 711,314. The company has a 50 day simple moving average of $3.81 and a two-hundred day simple moving average of $5.89. The firm has a market capitalization of $47.55 million, a price-to-earnings ratio of -0.19 and a beta of 0.46. Outlook Therapeutics has a one year low of $0.87 and a one year high of $12.85.

Outlook Therapeutics (NASDAQ:OTLK) last posted its quarterly earnings data on Friday, December 27th. The company reported ($0.77) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.83) by $0.06. Equities research analysts anticipate that Outlook Therapeutics will post -3.84 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Great Point Partners LLC lifted its position in 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 purchasing an additional 221,510 shares during the last quarter. Squarepoint Ops LLC bought a new stake in shares of Outlook Therapeutics during the 2nd quarter worth $232,000. AQR Capital Management LLC purchased a new position in Outlook Therapeutics in the second quarter worth $75,000. Susquehanna Fundamental Investments LLC bought a new position in Outlook Therapeutics in the second quarter valued at $303,000. Finally, Christensen King & Associates Investment Services Inc. purchased a new stake in Outlook Therapeutics during the third quarter valued at about $55,000. Hedge funds and other institutional investors own 11.20% of the company’s stock.

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.