Short Interest in Outlook Therapeutics, Inc. (NASDAQ:OTLK) Declines By 17.7%

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

Outlook Therapeutics Stock Performance

Shares of OTLK opened at $2.19 on Friday. Outlook Therapeutics has a one year low of $0.87 and a one year high of $12.85. The stock has a market capitalization of $54.55 million, a price-to-earnings ratio of -0.24 and a beta of 0.53. The stock has a 50 day moving average price of $2.78 and a 200 day moving average price of $5.39.

Outlook Therapeutics (NASDAQ:OTLK) last issued its quarterly earnings results on Friday, December 27th. The company reported ($0.77) EPS for the quarter, topping the consensus estimate of ($0.83) by $0.06. On average, analysts predict that Outlook Therapeutics will post -2.33 earnings per share for the current year.

Institutional Trading of Outlook Therapeutics

Several large investors have recently added to or reduced their stakes in OTLK. Great Point Partners LLC grew its holdings in Outlook Therapeutics by 15.0% in the 2nd quarter. Great Point Partners LLC now owns 1,701,510 shares of the company’s stock valued at $12,557,000 after buying an additional 221,510 shares in the last quarter. Geode Capital Management LLC grew its holdings in Outlook Therapeutics by 49.2% in the 3rd quarter. Geode Capital Management LLC now owns 341,959 shares of the company’s stock valued at $1,826,000 after buying an additional 112,812 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Outlook Therapeutics in the 2nd quarter valued at $303,000. XTX Topco Ltd purchased a new stake in Outlook Therapeutics in the 3rd quarter valued at $199,000. Finally, Squarepoint Ops LLC purchased a new stake in Outlook Therapeutics in the 2nd quarter valued at $232,000. 11.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. HC Wainwright reaffirmed a “buy” rating and set a $30.00 target price on shares of Outlook Therapeutics in a report on Friday. Chardan Capital reissued a “neutral” rating on shares of Outlook Therapeutics in a report on Monday, December 2nd. Finally, BTIG Research decreased their price target on Outlook Therapeutics from $50.00 to $9.00 and set a “buy” rating for the company in a report on Friday, November 29th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Outlook Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.73.

About Outlook Therapeutics

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.