Great Point Partners LLC Sells 408,482 Shares of Outlook Therapeutics, Inc. (NASDAQ:OTLK)

Great Point Partners LLC trimmed its stake in Outlook Therapeutics, Inc. (NASDAQ:OTLK - Free Report) by 24.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,293,028 shares of the company's stock after selling 408,482 shares during the period. Outlook Therapeutics makes up approximately 2.0% of Great Point Partners LLC's portfolio, making the stock its 19th biggest holding. Great Point Partners LLC owned approximately 5.47% of Outlook Therapeutics worth $6,905,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Susquehanna Fundamental Investments LLC purchased a new position in Outlook Therapeutics in the 2nd quarter worth approximately $303,000. Squarepoint Ops LLC bought a new stake in shares of Outlook Therapeutics during the 2nd quarter worth $232,000. Christensen King & Associates Investment Services Inc. purchased a new position in Outlook Therapeutics in the third quarter worth $55,000. AQR Capital Management LLC bought a new position in Outlook Therapeutics in the second quarter valued at $75,000. Finally, Charles Schwab Investment Management Inc. raised its position in Outlook Therapeutics by 55.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 51,459 shares of the company's stock valued at $275,000 after purchasing an additional 18,287 shares in the last quarter. 11.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Outlook Therapeutics

In other Outlook Therapeutics news, CFO Lawrence A. Kenyon bought 5,000 shares of the business's stock in a transaction that occurred on Thursday, September 26th. The shares were bought at an average cost of $5.69 per share, with a total value of $28,450.00. Following the completion of the purchase, the chief financial officer now directly owns 5,946 shares of the company's stock, valued at $33,832.74. This trade represents a 528.54 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 3.40% of the stock is currently owned by company insiders.

Outlook Therapeutics Trading Down 65.2 %

Shares of NASDAQ:OTLK traded down $3.19 during trading on Wednesday, reaching $1.70. 62,200,520 shares of the company traded hands, compared to its average volume of 613,726. Outlook Therapeutics, Inc. has a 52-week low of $0.87 and a 52-week high of $12.85. The firm has a market capitalization of $40.22 million, a price-to-earnings ratio of -0.16 and a beta of 0.62. The business's fifty day moving average is $5.45 and its 200-day moving average is $6.79.

Analyst Ratings Changes

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

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.