Outlook Therapeutics, Inc. (NASDAQ:OTLK) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its holdings in Outlook Therapeutics, Inc. (NASDAQ:OTLK) by 44.8% during the fourth quarter, Holdings Channel reports. The firm owned 29,764 shares of the company’s stock after purchasing an additional 9,211 shares during the period. Bank of New York Mellon Corp’s holdings in Outlook Therapeutics were worth $56,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in OTLK. Barclays PLC increased 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 buying an additional 18,249 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Outlook Therapeutics during the 3rd quarter worth $199,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Outlook Therapeutics by 55.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 51,459 shares of the company’s stock worth $275,000 after acquiring an additional 18,287 shares during the last quarter. Rhumbline Advisers raised its position in shares of Outlook Therapeutics by 1,329.6% during the fourth quarter. Rhumbline Advisers now owns 188,050 shares of the company’s stock worth $355,000 after purchasing an additional 174,896 shares during the period. Finally, State Street Corp lifted its holdings in shares of Outlook Therapeutics by 10.0% during the third quarter. State Street Corp now owns 232,542 shares of the company’s stock valued at $1,242,000 after purchasing an additional 21,201 shares during the last quarter. 11.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OTLK has been the topic of a number of analyst reports. HC Wainwright dropped their price target on Outlook Therapeutics from $30.00 to $3.00 and set a “buy” rating on the stock in a research note on Tuesday, February 18th. Chardan Capital reiterated a “neutral” rating and issued a $3.00 target price on shares of Outlook Therapeutics in a report on Tuesday, February 18th. Ascendiant Capital Markets cut their price target on shares of Outlook Therapeutics from $33.00 to $24.00 and set a “buy” rating on the stock in a report on Monday, February 24th. Finally, Guggenheim restated a “buy” rating and issued a $12.00 price target on shares of Outlook Therapeutics in a research report on Friday, January 17th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.20.

Outlook Therapeutics Trading Down 5.7 %

Shares of Outlook Therapeutics stock opened at $1.32 on Monday. Outlook Therapeutics, Inc. has a 1 year low of $0.87 and a 1 year high of $12.85. The stock has a 50-day moving average price of $1.67 and a 200 day moving average price of $3.20. The company has a market cap of $42.26 million, a P/E ratio of -0.18 and a beta of 0.54.

Outlook Therapeutics (NASDAQ:OTLK) last posted its quarterly earnings results on Friday, February 14th. The company reported ($0.89) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.04). On average, equities analysts forecast that Outlook Therapeutics, Inc. will post -2.27 earnings per share for the current fiscal year.

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.