Renaissance Technologies LLC Acquires New Stake in Outlook Therapeutics, Inc. (NASDAQ:OTLK)

Renaissance Technologies LLC bought a new stake in shares of Outlook Therapeutics, Inc. (NASDAQ:OTLK) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 130,374 shares of the company’s stock, valued at approximately $246,000. Renaissance Technologies LLC owned 0.41% of Outlook Therapeutics at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of OTLK. Rhumbline Advisers boosted its stake in shares of Outlook Therapeutics by 1,329.6% in the fourth quarter. Rhumbline Advisers now owns 188,050 shares of the company’s stock valued at $355,000 after purchasing an additional 174,896 shares during the period. Geode Capital Management LLC lifted its holdings in Outlook Therapeutics by 49.2% during the 3rd quarter. Geode Capital Management LLC now owns 341,959 shares of the company’s stock worth $1,826,000 after buying an additional 112,812 shares in the last quarter. Commonwealth Equity Services LLC acquired a new stake in Outlook Therapeutics during the 4th quarter worth approximately $48,000. Barclays PLC boosted its position in 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 buying an additional 18,249 shares during the period. Finally, Russell Investments Group Ltd. grew its stake in shares of Outlook Therapeutics by 34,936.7% in the fourth quarter. Russell Investments Group Ltd. now owns 17,168 shares of the company’s stock worth $32,000 after acquiring an additional 17,119 shares in the last quarter. 11.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Guggenheim reiterated a “buy” rating and issued a $12.00 target price on shares of Outlook Therapeutics in a report on Friday, January 17th. HC Wainwright decreased their price objective on Outlook Therapeutics from $30.00 to $3.00 and set a “buy” rating for the company in a research note on Tuesday, February 18th. Chardan Capital reaffirmed a “neutral” rating and issued a $3.00 target price on shares of Outlook Therapeutics in a report on Tuesday, February 18th. Finally, Ascendiant Capital Markets reduced their price objective on shares of Outlook Therapeutics from $33.00 to $24.00 and set a “buy” rating on the stock in a report on Monday, February 24th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Outlook Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $10.20.

Outlook Therapeutics Stock Performance

Shares of Outlook Therapeutics stock opened at $1.55 on Tuesday. The company has a fifty day simple moving average of $1.41 and a 200-day simple moving average of $2.41. The stock has a market cap of $49.63 million, a price-to-earnings ratio of -0.21 and a beta of 0.39. Outlook Therapeutics, Inc. has a 12-month low of $0.87 and a 12-month high of $9.25.

Outlook Therapeutics (NASDAQ:OTLK) last released its quarterly earnings data on Friday, February 14th. The company reported ($0.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.85) by ($0.04). On average, analysts forecast that Outlook Therapeutics, Inc. will post -2.27 earnings per share for the current fiscal year.

Outlook Therapeutics 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.