Stock Traders Buy Large Volume of Put Options on Oncobiologics (NASDAQ:OTLK)

Oncobiologics, Inc. (NASDAQ:OTLK) was the recipient of unusually large options trading activity on Thursday. Traders acquired 2,399 put options on the company. Thisrepresentsanincreaseof261% compared to the typical daily volume of 664 put options.

Wall Street Analyst Weigh In

OTLK has been the topic of a number of research reports. Ascendiant Capital Markets reduced their target price on shares of Oncobiologics from $24.00 to $21.00 and set a “buy” rating on the stock in a report on Friday, June 6th. HC Wainwright reaffirmed a “neutral” rating on shares of Oncobiologics in a research note on Friday, August 29th. Zacks Research lowered Oncobiologics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 27th. Chardan Capital reaffirmed a “neutral” rating and issued a $3.00 price objective on shares of Oncobiologics in a research note on Thursday, August 28th. Finally, Guggenheim lowered Oncobiologics from a “buy” rating to a “neutral” rating in a research note on Thursday, August 28th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $9.60.

Oncobiologics Stock Performance

Shares of NASDAQ OTLK opened at $0.94 on Friday. The business’s 50 day moving average price is $1.96 and its 200-day moving average price is $1.69. Oncobiologics has a fifty-two week low of $0.79 and a fifty-two week high of $8.32. The company has a market cap of $41.53 million, a price-to-earnings ratio of -1.64 and a beta of 0.48.

Oncobiologics (NASDAQ:OTLK) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.02). The firm had revenue of $1.51 million during the quarter, compared to analysts’ expectations of $1.66 million. Sell-side analysts predict that Oncobiologics will post -2.27 earnings per share for the current year.

Institutional Investors Weigh In On Oncobiologics

Several large investors have recently added to or reduced their stakes in OTLK. Goldman Sachs Group Inc. boosted its position in Oncobiologics by 74.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 103,524 shares of the company’s stock valued at $126,000 after buying an additional 44,063 shares during the period. AQR Capital Management LLC raised its position in Oncobiologics by 42.7% during the 1st quarter. AQR Capital Management LLC now owns 84,671 shares of the company’s stock valued at $103,000 after purchasing an additional 25,351 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Oncobiologics by 865.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 24,477 shares of the company’s stock worth $39,000 after buying an additional 21,941 shares during the period. Finally, Jane Street Group LLC lifted its holdings in shares of Oncobiologics by 133.9% in the 4th quarter. Jane Street Group LLC now owns 26,218 shares of the company’s stock worth $50,000 after buying an additional 15,008 shares during the period. 11.20% of the stock is owned by hedge funds and other institutional investors.

Oncobiologics 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.