Outlook Therapeutics, Inc. (NASDAQ:OTLK) Short Interest Down 15.0% in December

Outlook Therapeutics, Inc. (NASDAQ:OTLK) was the target of a significant decline in short interest in 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 shares of the company are short sold. Based on an average daily volume of 1,630,000 shares, the short-interest ratio is currently 2.2 days.

Outlook Therapeutics Trading Up 18.2 %

OTLK opened at $2.01 on Monday. The stock’s 50 day simple moving average is $3.81 and its 200-day simple moving average is $5.88. The stock has a market cap of $47.55 million, a PE ratio of -0.19 and a beta of 0.46. Outlook Therapeutics has a 1 year low of $0.87 and a 1 year high of $12.85.

Outlook Therapeutics (NASDAQ:OTLK) last posted its quarterly 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. Equities analysts forecast that Outlook Therapeutics will post -3.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Ascendiant Capital Markets decreased their target price on Outlook Therapeutics from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Tuesday, September 3rd. BTIG Research lowered their price objective on shares of Outlook Therapeutics from $50.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. HC Wainwright reaffirmed a “buy” rating and set a $30.00 target price on shares of Outlook Therapeutics in a research report on Friday, November 29th. Finally, Chardan Capital reissued a “neutral” rating on shares of Outlook Therapeutics in a report on Monday, December 2nd. One investment 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $32.73.

Institutional Trading of Outlook Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Great Point Partners LLC lifted its stake 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 worth $12,557,000 after purchasing an additional 221,510 shares during the period. Squarepoint Ops LLC bought a new position in shares of Outlook Therapeutics during the 2nd quarter worth approximately $232,000. AQR Capital Management LLC bought a new position in shares of Outlook Therapeutics during the 2nd quarter worth approximately $75,000. Susquehanna Fundamental Investments LLC acquired a new stake in Outlook Therapeutics in the 2nd quarter valued at $303,000. Finally, Christensen King & Associates Investment Services Inc. bought a new stake in Outlook Therapeutics in the third quarter valued at $55,000. 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.