Outlook Therapeutics (NASDAQ:OTLK) Shares Up 1% – Time to Buy?

Shares of Outlook Therapeutics, Inc. (NASDAQ:OTLK) shot up 1% on Wednesday . The company traded as high as $5.44 and last traded at $5.28. 145,169 shares changed hands during trading, a decline of 58% from the average session volume of 344,029 shares. The stock had previously closed at $5.23.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on OTLK. BTIG Research reiterated a “buy” rating and issued a $50.00 price target on shares of Outlook Therapeutics in a research note on Friday, October 18th. Ascendiant Capital Markets decreased their target price on Outlook Therapeutics from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Tuesday, September 3rd. Chardan Capital restated a “buy” rating and issued a $53.00 price target on shares of Outlook Therapeutics in a research note on Friday, August 16th. Finally, HC Wainwright reissued a “buy” rating and issued a $30.00 target price on shares of Outlook Therapeutics in a report on Thursday, August 15th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, Outlook Therapeutics currently has an average rating of “Buy” and an average price target of $48.20.

Outlook Therapeutics Stock Down 1.9 %

The firm has a 50 day moving average of $5.61 and a 200-day moving average of $6.90. The company has a market cap of $118.99 million, a P/E ratio of -0.47 and a beta of 0.62.

Insider Activity at Outlook Therapeutics

In related news, CFO Lawrence A. Kenyon acquired 5,000 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were purchased 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 directly owns 5,946 shares of the company’s stock, valued at $33,832.74. This represents a 528.54 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Outlook Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Rosalind Advisors Inc. boosted its stake in shares of Outlook Therapeutics by 44.3% in the second quarter. Rosalind Advisors Inc. now owns 450,000 shares of the company’s stock worth $3,321,000 after buying an additional 138,225 shares during the last quarter. LVW Advisors LLC acquired a new position in shares of Outlook Therapeutics in the 2nd quarter valued at $352,000. Great Point Partners LLC boosted its holdings 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 buying an additional 221,510 shares in the last quarter. Squarepoint Ops LLC purchased a new position in Outlook Therapeutics in the second quarter valued at $232,000. Finally, AQR Capital Management LLC acquired a new position in shares of Outlook Therapeutics in the second quarter worth about $75,000. 11.20% of the stock is currently owned by institutional investors and hedge funds.

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.