Insider Buying: Oncobiologics (NASDAQ:OTLK) Director Buys $24,070.00 in Stock

Oncobiologics, Inc. (NASDAQ:OTLK) Director Yezan Munther Haddadin purchased 29,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was acquired at an average price of $0.83 per share, for a total transaction of $24,070.00. Following the acquisition, the director directly owned 66,167 shares of the company’s stock, valued at $54,918.61. This trade represents a 78.03% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this link.

Oncobiologics Stock Performance

NASDAQ OTLK opened at $0.78 on Friday. Oncobiologics, Inc. has a one year low of $0.16 and a one year high of $3.39. The company’s 50 day moving average price is $0.34 and its 200 day moving average price is $0.76. The firm has a market capitalization of $108.78 million, a price-to-earnings ratio of -0.66 and a beta of 0.96.

Oncobiologics (NASDAQ:OTLK) last posted its quarterly earnings results on Friday, May 15th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.04). The company had revenue of $0.13 million for the quarter, compared to analysts’ expectations of $4.39 million. Sell-side analysts forecast that Oncobiologics, Inc. will post -0.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Oncobiologics

Several large investors have recently added to or reduced their stakes in OTLK. AQR Capital Management LLC lifted its stake in Oncobiologics by 42.7% during the first quarter. AQR Capital Management LLC now owns 84,671 shares of the company’s stock worth $103,000 after purchasing an additional 25,351 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Oncobiologics by 74.1% during the first quarter. Goldman Sachs Group Inc. now owns 103,524 shares of the company’s stock worth $126,000 after purchasing an additional 44,063 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Oncobiologics by 865.2% during the second quarter. Russell Investments Group Ltd. now owns 24,477 shares of the company’s stock worth $39,000 after purchasing an additional 21,941 shares during the last quarter. 11.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

OTLK has been the topic of several research reports. HC Wainwright restated a “neutral” rating on shares of Oncobiologics in a report on Wednesday, February 18th. Weiss Ratings reissued a “sell (e+)” rating on shares of Oncobiologics in a research report on Friday, March 27th. BTIG Research reissued a “neutral” rating on shares of Oncobiologics in a research report on Monday, May 18th. Wall Street Zen raised shares of Oncobiologics to a “sell” rating in a research report on Saturday, May 30th. Finally, Chardan Capital reissued a “neutral” rating on shares of Oncobiologics in a research report on Wednesday, February 18th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.50.

About Oncobiologics

Oncobiologics, Inc is a clinical-stage biopharmaceutical company specializing in the development of biosimilar therapeutics for cancer and autoimmune diseases. Leveraging recombinant DNA technology and advanced formulation platforms, the company aims to create high-quality, cost-effective alternatives to originator biologic drugs. Oncobiologics’ research focus includes monoclonal antibodies and growth factors that support oncology treatment and immunomodulation.

Founded in 2005 and headquartered in Marlborough, Massachusetts, Oncobiologics maintains research facilities in the Greater Boston area and an integrated manufacturing site in Hyderabad, India, through its wholly owned subsidiary.