Outlook Therapeutics, Inc. (NASDAQ:OTLK) Short Interest Update

Outlook Therapeutics, Inc. (NASDAQ:OTLK) was the recipient of a significant drop in short interest in the month of April. As of April 15th, there was short interest totalling 1,130,000 shares, a drop of 15.0% from the March 31st total of 1,330,000 shares. Currently, 7.4% of the company’s stock are sold short. Based on an average trading volume of 639,000 shares, the short-interest ratio is presently 1.8 days.

Institutional Trading of Outlook Therapeutics

Large investors have recently bought and sold shares of the company. Gables Capital Management Inc. grew its stake in shares of Outlook Therapeutics by 132.3% during the 3rd quarter. Gables Capital Management Inc. now owns 154,500 shares of the company’s stock worth $34,000 after acquiring an additional 88,000 shares during the period. Scotia Capital Inc. boosted its position in Outlook Therapeutics by 420.9% during the third quarter. Scotia Capital Inc. now owns 338,439 shares of the company’s stock worth $75,000 after purchasing an additional 273,463 shares during the period. Finally, Rosalind Advisors Inc. bought a new position in Outlook Therapeutics during the first quarter worth about $3,723,000. 11.20% of the stock is owned by hedge funds and other institutional investors.

Outlook Therapeutics Price Performance

Shares of NASDAQ:OTLK traded down $0.18 during midday trading on Tuesday, reaching $8.92. The company had a trading volume of 207,556 shares, compared to its average volume of 516,667. Outlook Therapeutics has a 52-week low of $4.00 and a 52-week high of $40.60. The company’s 50 day moving average price is $8.55 and its 200 day moving average price is $8.61.

Outlook Therapeutics (NASDAQ:OTLK) last released its earnings results on Wednesday, February 14th. The company reported ($0.80) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.20. On average, equities research analysts forecast that Outlook Therapeutics will post -2.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on OTLK shares. Brookline Capital Management upgraded shares of Outlook Therapeutics from a “hold” rating to a “buy” rating and set a $31.40 price objective on the stock in a report on Thursday, January 25th. Chardan Capital raised Outlook Therapeutics from a “neutral” rating to a “buy” rating and set a $60.00 price objective for the company in a report on Thursday, February 15th. Guggenheim upgraded Outlook Therapeutics from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Thursday, January 25th. HC Wainwright increased their price target on Outlook Therapeutics to $30.00 and gave the company a “buy” rating in a research report on Monday, March 25th. Finally, Capital One Financial reiterated an “overweight” rating on shares of Outlook Therapeutics in a research note on Friday, February 16th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $46.43.

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.