Investors Purchase Large Volume of Call Options on Outlook Therapeutics (NASDAQ:OTLK)

Outlook Therapeutics, Inc. (NASDAQ:OTLK) was the recipient of some unusual options trading activity on Friday. Traders acquired 10,260 call options on the stock. This represents an increase of approximately 6,976% compared to the typical volume of 145 call options.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on OTLK shares. Chardan Capital reiterated a “buy” rating and set a $53.00 target price on shares of Outlook Therapeutics in a research report on Friday, August 16th. BTIG Research lowered their target price on shares of Outlook Therapeutics from $50.00 to $9.00 and set a “buy” rating on the stock in a report on Friday. 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 research report on Tuesday, September 3rd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $30.00 price objective on shares of Outlook Therapeutics in a report on Friday. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Outlook Therapeutics has an average rating of “Buy” and an average target price of $42.34.

Outlook Therapeutics Price Performance

NASDAQ:OTLK traded up $0.14 during midday trading on Friday, reaching $1.84. 3,896,825 shares of the company traded hands, compared to its average volume of 626,192. The firm has a market capitalization of $43.42 million, a price-to-earnings ratio of -0.17 and a beta of 0.62. The company has a fifty day moving average price of $5.37 and a 200 day moving average price of $6.75. Outlook Therapeutics has a twelve month low of $0.87 and a twelve month high of $12.85.

Insider Activity at Outlook Therapeutics

In other news, CFO Lawrence A. Kenyon purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The stock was bought at an average price of $5.69 per share, for a total transaction 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. The trade was a 528.54 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Outlook Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. Great Point Partners LLC lifted its position in Outlook Therapeutics by 15.0% in the 2nd quarter. Great Point Partners LLC now owns 1,701,510 shares of the company’s stock valued at $12,557,000 after purchasing an additional 221,510 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Outlook Therapeutics during the second quarter valued at approximately $303,000. Squarepoint Ops LLC acquired a new position in shares of Outlook Therapeutics during the second quarter worth approximately $232,000. Christensen King & Associates Investment Services Inc. bought a new position in Outlook Therapeutics in the 3rd quarter worth approximately $55,000. Finally, AQR Capital Management LLC bought a new position in Outlook Therapeutics in the 2nd quarter worth approximately $75,000. Institutional investors and hedge funds own 11.20% of the company’s stock.

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.