Outlook Therapeutics, Inc. (NASDAQ:OTLK) was the target of a large decline in short interest in June. As of June 30th, there was short interest totalling 1,376,200 shares, a decline of 18.5% from the May 30th total of 1,688,200 shares. Based on an average trading volume of 4,920,000 shares, the short-interest ratio is currently 0.3 days. Approximately 57.1% of the shares of the stock are short sold.
A hedge fund recently bought a new stake in Outlook Therapeutics stock. Chicago Capital LLC bought a new position in shares of Outlook Therapeutics, Inc. (NASDAQ:OTLK) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 19,450 shares of the company’s stock, valued at approximately $40,000. Chicago Capital LLC owned about 0.07% of Outlook Therapeutics at the end of the most recent quarter. 0.79% of the stock is owned by hedge funds and other institutional investors.
Several analysts have recently weighed in on the stock. ValuEngine upgraded shares of XPO Logistics from a “strong sell” rating to a “sell” rating in a research report on Thursday, April 4th. Oppenheimer assumed coverage on shares of Outlook Therapeutics in a research report on Thursday, May 16th. They set an “outperform” rating and a $12.00 target price on the stock. CIBC reiterated a “hold” rating and set a $3.00 target price on shares of Information Services Group in a research report on Thursday, May 16th. Finally, Ascendiant Capital Markets initiated coverage on shares of Graham in a research report on Monday, April 22nd. They issued a “buy” rating and a $1.59 price target on the stock.
Outlook Therapeutics (NASDAQ:OTLK) last released its quarterly earnings results on Wednesday, May 15th. The company reported ($0.58) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.66) by $0.08. The firm had revenue of $0.64 million during the quarter. As a group, research analysts anticipate that Outlook Therapeutics will post -1.95 EPS for the current fiscal year.
About Outlook Therapeutics
Outlook Therapeutics, Inc, a late clinical-stage biopharmaceutical company, focuses on developing and commercializing monoclonal antibody for various ophthalmic indications. Its lead product candidate is ONS-5010, a proprietary ophthalmic bevacizumab product candidate that is in first clinical trial for the treatment of wet age related macular degeneration and other retina diseases.
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