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

Outlook Therapeutics, Inc. (NASDAQ:OTLK) saw a large decline in short interest in the month of 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. Based on an average daily trading volume, of 639,000 shares, the days-to-cover ratio is presently 1.8 days. Approximately 7.4% of the company’s shares are short sold.

Outlook Therapeutics Stock Up 2.9 %

Shares of OTLK stock opened at $8.43 on Monday. Outlook Therapeutics has a 12-month low of $4.00 and a 12-month high of $40.60. The firm has a fifty day moving average of $8.55 and a 200-day moving average of $8.58. The company has a market capitalization of $109.67 million, a price-to-earnings ratio of -2.11 and a beta of 0.04.

Outlook Therapeutics (NASDAQ:OTLK) last announced its earnings results on Wednesday, February 14th. The company reported ($0.80) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.20. On average, equities analysts expect that Outlook Therapeutics will post -2.99 EPS for the current year.

Analyst Upgrades and Downgrades

OTLK has been the topic of a number of analyst reports. 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 report on Thursday, January 25th. BTIG Research raised 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 report on Wednesday, March 27th. HC Wainwright boosted their price target on shares of Outlook Therapeutics to $30.00 and gave the company a “buy” rating in a report on Monday, March 25th. Chardan Capital raised Outlook Therapeutics from a “neutral” rating to a “buy” rating and set a $60.00 price objective on the stock in a research note on Thursday, February 15th. Finally, Capital One Financial reiterated an “overweight” rating on shares of Outlook Therapeutics in a report on Friday, February 16th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $46.43.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Gables Capital Management Inc. raised its position in Outlook Therapeutics by 132.3% in the 3rd quarter. Gables Capital Management Inc. now owns 154,500 shares of the company’s stock valued at $34,000 after buying an additional 88,000 shares during the last quarter. Scotia Capital Inc. boosted its position in Outlook Therapeutics by 420.9% during the 3rd quarter. Scotia Capital Inc. now owns 338,439 shares of the company’s stock worth $75,000 after acquiring an additional 273,463 shares during the last quarter. Finally, Rosalind Advisors Inc. bought a new position in shares of Outlook Therapeutics during the 1st quarter worth approximately $3,723,000. 11.20% of the stock is owned by institutional investors and hedge funds.

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.