Outlook Therapeutics, Inc. (NASDAQ:OTLK) was the target of a large growth in short interest in the month of November. As of November 29th, there was short interest totalling 1,510,000 shares, a growth of 11.9% from the November 14th total of 1,350,000 shares. Approximately 10.8% of the company’s shares are short sold. Based on an average daily volume of 385,000 shares, the short-interest ratio is currently 3.9 days.
Hedge funds have recently modified their holdings of the company. Cormorant Asset Management LP bought a new stake in shares of Outlook Therapeutics in the 2nd quarter worth approximately $32,000. Virtu Financial LLC bought a new stake in shares of Outlook Therapeutics in the 3rd quarter worth approximately $83,000. LVW Advisors LLC grew its position in shares of Outlook Therapeutics by 37.6% in the 3rd quarter. LVW Advisors LLC now owns 389,088 shares of the company’s stock worth $580,000 after buying an additional 106,293 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Outlook Therapeutics by 712.1% in the 2nd quarter. Vanguard Group Inc. now owns 396,001 shares of the company’s stock worth $824,000 after buying an additional 347,238 shares during the last quarter. Hedge funds and other institutional investors own 3.35% of the company’s stock.
OTLK has been the topic of a number of analyst reports. LADENBURG THALM/SH SH initiated coverage on Outlook Therapeutics in a research note on Wednesday, September 11th. They issued a “buy” rating and a $9.00 price target on the stock. Zacks Investment Research cut Outlook Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $7.79.
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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