Oncobiologics (NASDAQ:OTLK) Trading Up 4.5% – Still a Buy?

Shares of Oncobiologics, Inc. (NASDAQ:OTLK) shot up 4.5% during mid-day trading on Monday . The company traded as high as $2.00 and last traded at $1.86. 1,434,782 shares traded hands during trading, an increase of 72% from the average session volume of 833,658 shares. The stock had previously closed at $1.78.

Analyst Ratings Changes

A number of brokerages have issued reports on OTLK. Guggenheim reiterated a “buy” rating on shares of Oncobiologics in a research report on Tuesday, May 20th. Ascendiant Capital Markets cut their price objective on Oncobiologics from $24.00 to $21.00 and set a “buy” rating for the company in a report on Friday, June 6th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $9.60.

Oncobiologics Stock Performance

The stock has a 50 day moving average of $1.70 and a two-hundred day moving average of $1.68. The stock has a market cap of $62.44 million, a PE ratio of -2.04 and a beta of 0.25.

Oncobiologics (NASDAQ:OTLK) last issued its quarterly earnings results on Thursday, May 15th. The company reported ($0.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.15. Analysts expect that Oncobiologics, Inc. will post -2.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of OTLK. Rhumbline Advisers raised its position in Oncobiologics by 1,329.6% during the fourth quarter. Rhumbline Advisers now owns 188,050 shares of the company’s stock valued at $355,000 after buying an additional 174,896 shares during the period. Bank of New York Mellon Corp increased its position in Oncobiologics by 44.8% in the 4th quarter. Bank of New York Mellon Corp now owns 29,764 shares of the company’s stock worth $56,000 after purchasing an additional 9,211 shares during the last quarter. Commonwealth Equity Services LLC acquired a new position in Oncobiologics in the 4th quarter worth about $48,000. Russell Investments Group Ltd. increased its position in Oncobiologics by 34,936.7% in the 4th quarter. Russell Investments Group Ltd. now owns 17,168 shares of the company’s stock worth $32,000 after purchasing an additional 17,119 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in Oncobiologics in the 4th quarter worth about $246,000. 11.20% of the stock is owned by institutional investors and hedge funds.

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.