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

Outlook Therapeutics, Inc. (NASDAQ:OTLK - Get Free Report) saw a large drop in short interest in December. As of December 31st, there was short interest totalling 2,890,000 shares, a drop of 17.7% from the December 15th total of 3,510,000 shares. Approximately 18.0% of the shares of the stock are short sold. Based on an average trading volume of 1,840,000 shares, the days-to-cover ratio is currently 1.6 days.

Outlook Therapeutics Stock Performance

Shares of NASDAQ OTLK traded down $0.11 during midday trading on Thursday, reaching $2.19. The stock had a trading volume of 2,341,891 shares, compared to its average volume of 1,147,958. The company's 50 day moving average price is $2.78 and its 200 day moving average price is $5.39. Outlook Therapeutics has a twelve month low of $0.87 and a twelve month high of $12.85. The firm has a market cap of $54.55 million, a price-to-earnings ratio of -0.24 and a beta of 0.53.

Outlook Therapeutics (NASDAQ:OTLK - Get Free Report) last released its earnings results on Friday, December 27th. The company reported ($0.77) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.83) by $0.06. Equities analysts forecast that Outlook Therapeutics will post -2.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Christensen King & Associates Investment Services Inc. bought a new stake in Outlook Therapeutics in the third quarter worth approximately $55,000. AQR Capital Management LLC acquired a new stake in shares of Outlook Therapeutics during the 2nd quarter worth approximately $75,000. Barclays PLC increased its stake in shares of Outlook Therapeutics by 677.4% in the 3rd quarter. Barclays PLC now owns 20,943 shares of the company's stock valued at $111,000 after acquiring an additional 18,249 shares in the last quarter. XTX Topco Ltd bought a new position in Outlook Therapeutics during the third quarter worth $199,000. Finally, Squarepoint Ops LLC bought a new position in Outlook Therapeutics during the second quarter worth $232,000. 11.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on OTLK shares. BTIG Research dropped their target price on Outlook Therapeutics from $50.00 to $9.00 and set a "buy" rating for the company in a research report on Friday, November 29th. HC Wainwright reiterated a "buy" rating and set a $30.00 target price on shares of Outlook Therapeutics in a research report on Friday, November 29th. Finally, Chardan Capital restated a "neutral" rating on shares of Outlook Therapeutics in a research report on Monday, December 2nd. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $32.73.

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.

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