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

Geode Capital Management LLC boosted its holdings in Outlook Therapeutics, Inc. (NASDAQ:OTLK) by 49.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 341,959 shares of the company’s stock after purchasing an additional 112,812 shares during the quarter. Geode Capital Management LLC owned about 1.45% of Outlook Therapeutics worth $1,826,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. AQR Capital Management LLC purchased a new stake in shares of Outlook Therapeutics in the 2nd quarter worth approximately $75,000. Christensen King & Associates Investment Services Inc. bought a new stake in Outlook Therapeutics in the third quarter worth $55,000. Barclays PLC grew its stake in shares of Outlook Therapeutics by 677.4% in the third quarter. Barclays PLC now owns 20,943 shares of the company’s stock worth $111,000 after acquiring an additional 18,249 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of Outlook Therapeutics during the second quarter valued at $232,000. Finally, XTX Topco Ltd purchased a new position in shares of Outlook Therapeutics in the 3rd quarter worth about $199,000. Institutional investors own 11.20% of the company’s stock.

Analyst Ratings Changes

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

Outlook Therapeutics Stock Down 5.2 %

Shares of NASDAQ OTLK opened at $2.18 on Thursday. The firm’s 50-day moving average price is $3.33 and its 200-day moving average price is $5.61. Outlook Therapeutics, Inc. has a 52-week low of $0.87 and a 52-week high of $12.85. The company has a market cap of $54.30 million, a PE ratio of -0.20 and a beta of 0.53.

Outlook Therapeutics (NASDAQ:OTLK) last posted its earnings results on Friday, December 27th. The company reported ($0.77) EPS for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.06. As a group, equities research analysts anticipate 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.