Outlook Therapeutics, Inc. (NASDAQ:OTLK) Short Interest Down 17.7% in December

Outlook Therapeutics, Inc. (NASDAQ:OTLK) was the recipient of a significant drop in short interest in December. As of December 31st, there was short interest totalling 2,890,000 shares, a drop of 17.7% from the December 15th total of 3,510,000 shares. Based on an average daily trading volume, of 1,840,000 shares, the short-interest ratio is presently 1.6 days. Currently, 18.0% of the company’s stock are sold short.

Hedge Funds Weigh In On Outlook Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. Great Point Partners LLC grew its stake in shares of Outlook Therapeutics by 15.0% during the 2nd quarter. Great Point Partners LLC now owns 1,701,510 shares of the company’s stock worth $12,557,000 after acquiring an additional 221,510 shares during the period. Squarepoint Ops LLC purchased a new stake in Outlook Therapeutics during the second quarter valued at about $232,000. AQR Capital Management LLC bought a new position in Outlook Therapeutics during the second quarter worth about $75,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Outlook Therapeutics in the second quarter worth about $303,000. Finally, Christensen King & Associates Investment Services Inc. purchased a new position in shares of Outlook Therapeutics in the third quarter worth about $55,000. 11.20% of the stock is owned by institutional investors.

Outlook Therapeutics Trading Down 4.8 %

Shares of OTLK traded down $0.11 on Thursday, reaching $2.19. 2,341,891 shares of the company’s stock traded hands, compared to its average volume of 1,147,958. The stock’s 50 day simple moving average is $2.78 and its two-hundred day simple moving average is $5.39. Outlook Therapeutics has a 52-week low of $0.87 and a 52-week high of $12.85. The stock has a market cap of $54.55 million, a PE ratio of -0.24 and a beta of 0.53.

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, topping analysts’ consensus estimates of ($0.83) by $0.06. Analysts forecast that Outlook Therapeutics will post -2.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on OTLK. Chardan Capital reiterated a “neutral” rating on shares of Outlook Therapeutics in a report on Monday, December 2nd. HC Wainwright reissued a “buy” rating and issued a $30.00 price target on shares of Outlook Therapeutics in a research report on Friday, November 29th. Finally, BTIG Research cut their price objective on shares of Outlook Therapeutics from $50.00 to $9.00 and set a “buy” rating on the stock in a report on Friday, November 29th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Outlook Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $32.73.

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.