Geode Capital Management LLC Increases Stake in Outlook Therapeutics, Inc. (NASDAQ:OTLK)

Geode Capital Management LLC raised its holdings in shares of Outlook Therapeutics, Inc. (NASDAQ:OTLK) by 49.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 341,959 shares of the company’s stock after acquiring an additional 112,812 shares during the quarter. Geode Capital Management LLC’s holdings in Outlook Therapeutics were worth $1,826,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Great Point Partners LLC raised its holdings in Outlook Therapeutics by 15.0% in the 2nd quarter. Great Point Partners LLC now owns 1,701,510 shares of the company’s stock worth $12,557,000 after purchasing an additional 221,510 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in Outlook Therapeutics in the second quarter worth about $303,000. XTX Topco Ltd purchased a new stake in Outlook Therapeutics in the third quarter worth about $199,000. Squarepoint Ops LLC bought a new position in shares of Outlook Therapeutics in the second quarter worth about $232,000. Finally, State Street Corp lifted its position in shares of Outlook Therapeutics by 10.0% during the 3rd quarter. State Street Corp now owns 232,542 shares of the company’s stock valued at $1,242,000 after buying an additional 21,201 shares in the last quarter. Institutional investors own 11.20% of the company’s stock.

Wall Street Analyst Weigh In

OTLK has been the subject of several analyst reports. BTIG Research reduced their target price on shares of Outlook Therapeutics from $50.00 to $9.00 and set a “buy” rating for the company in a report on Friday, November 29th. HC Wainwright reiterated a “buy” rating and issued a $30.00 price target on shares of Outlook Therapeutics in a research report on Friday, November 29th. Finally, Chardan Capital restated a “neutral” rating on shares of Outlook Therapeutics in a research report on Monday, December 2nd. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.73.

Outlook Therapeutics Trading Down 5.2 %

NASDAQ OTLK opened at $2.18 on Thursday. Outlook Therapeutics, Inc. has a 12 month low of $0.87 and a 12 month high of $12.85. The stock has a market cap of $54.30 million, a PE ratio of -0.20 and a beta of 0.53. The stock’s 50 day moving average is $3.33 and its 200 day moving average is $5.61.

Outlook Therapeutics (NASDAQ:OTLK) last released its earnings results on Friday, December 27th. The company reported ($0.77) EPS for the quarter, topping the consensus estimate of ($0.83) by $0.06. On average, analysts forecast that Outlook Therapeutics, Inc. will post -3.84 EPS for the current fiscal year.

Outlook Therapeutics 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.