Outlook Therapeutics, Inc. (NASDAQ:OTLK) Short Interest Up 21.5% in November

Outlook Therapeutics, Inc. (NASDAQ:OTLK) was the recipient of a significant growth in short interest in November. As of November 30th, there was short interest totalling 4,130,000 shares, a growth of 21.5% from the November 15th total of 3,400,000 shares. Based on an average daily trading volume, of 1,570,000 shares, the days-to-cover ratio is presently 2.6 days. Currently, 27.1% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Ascendiant Capital Markets cut their target price on shares of Outlook Therapeutics from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Tuesday, September 3rd. Chardan Capital reissued a “neutral” rating on shares of Outlook Therapeutics in a report on Monday, December 2nd. HC Wainwright restated a “buy” rating and set a $30.00 price objective on shares of Outlook Therapeutics in a research report on Friday, November 29th. 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’s stock. Based on data from MarketBeat, Outlook Therapeutics has an average rating of “Moderate Buy” and an average target price of $42.34.

Insider Buying and Selling at Outlook Therapeutics

In other Outlook Therapeutics news, CFO Lawrence A. Kenyon bought 5,000 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were bought at an average cost of $5.69 per share, with a total value of $28,450.00. Following the completion of the acquisition, the chief financial officer now owns 5,946 shares of the company’s stock, valued at approximately $33,832.74. This trade represents a 528.54 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Outlook Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Christensen King & Associates Investment Services Inc. bought a new position in Outlook Therapeutics in the 3rd quarter valued at about $55,000. AQR Capital Management LLC acquired a new stake in shares of Outlook Therapeutics in the 2nd quarter worth approximately $75,000. Barclays PLC boosted its holdings in shares of Outlook Therapeutics by 677.4% in the third quarter. Barclays PLC now owns 20,943 shares of the company’s stock valued at $111,000 after acquiring an additional 18,249 shares in the last quarter. XTX Topco Ltd acquired 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 Outlook Therapeutics during the second quarter worth approximately $232,000. 11.20% of the stock is currently owned by institutional investors.

Outlook Therapeutics Stock Down 3.4 %

Outlook Therapeutics stock traded down $0.05 during mid-day trading on Monday, hitting $1.43. 692,895 shares of the company’s stock traded hands, compared to its average volume of 692,133. Outlook Therapeutics has a one year low of $0.87 and a one year high of $12.85. The firm has a 50 day moving average price of $4.53 and a 200 day moving average price of $6.27. The company has a market cap of $33.83 million, a PE ratio of -0.13 and a beta of 0.46.

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.