Short Interest in Outlook Therapeutics, Inc. (NASDAQ:OTLK) Declines By 15.0%

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

Analyst Ratings Changes

Several research analysts recently commented 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 for the company in a research note on Thursday, January 25th. Guggenheim upgraded shares of Outlook Therapeutics from a “neutral” rating to a “buy” rating and set a $40.00 price target on the stock in a research note on Thursday, January 25th. Capital One Financial restated an “overweight” rating on shares of Outlook Therapeutics in a research note on Friday, February 16th. BTIG Research upgraded shares of Outlook Therapeutics from a “neutral” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Wednesday, March 27th. Finally, Chardan Capital upgraded shares of Outlook Therapeutics from a “neutral” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Thursday, February 15th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.43.

Institutional Trading of Outlook Therapeutics

Several large investors have recently made changes to their positions in the business. Rosalind Advisors Inc. purchased a new stake in shares of Outlook Therapeutics in the 1st quarter valued at $3,723,000. Scotia Capital Inc. boosted its holdings 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 buying an additional 273,463 shares in the last quarter. Finally, Gables Capital Management Inc. boosted its holdings in Outlook Therapeutics by 132.3% during the third quarter. Gables Capital Management Inc. now owns 154,500 shares of the company’s stock worth $34,000 after buying an additional 88,000 shares in the last quarter. 11.20% of the stock is owned by hedge funds and other institutional investors.

Outlook Therapeutics Price Performance

OTLK stock opened at $8.92 on Wednesday. The firm’s fifty day simple moving average is $8.56 and its 200-day simple moving average is $8.62. The company has a market capitalization of $116.05 million, a P/E ratio of -2.23 and a beta of 0.04. Outlook Therapeutics has a 12 month low of $4.00 and a 12 month high of $40.60.

Outlook Therapeutics (NASDAQ:OTLK) last released its quarterly earnings data on Wednesday, February 14th. The company reported ($0.80) EPS for the quarter, beating the consensus estimate of ($1.00) by $0.20. As a group, sell-side analysts forecast that Outlook Therapeutics will post -2.99 earnings per share for the current year.

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.