Rhumbline Advisers Purchases 174,896 Shares of Outlook Therapeutics, Inc. (NASDAQ:OTLK)

Rhumbline Advisers boosted its holdings in shares of Outlook Therapeutics, Inc. (NASDAQ:OTLK) by 1,329.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 188,050 shares of the company’s stock after purchasing an additional 174,896 shares during the period. Rhumbline Advisers owned about 0.59% of Outlook Therapeutics worth $355,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Charles Schwab Investment Management Inc. increased its holdings in shares of Outlook Therapeutics by 55.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 51,459 shares of the company’s stock worth $275,000 after buying an additional 18,287 shares in the last quarter. State Street Corp increased its holdings in Outlook Therapeutics by 10.0% in the 3rd quarter. State Street Corp now owns 232,542 shares of the company’s stock worth $1,242,000 after purchasing an additional 21,201 shares in the last quarter. Geode Capital Management LLC raised its position in Outlook Therapeutics by 49.2% in the third quarter. Geode Capital Management LLC now owns 341,959 shares of the company’s stock valued at $1,826,000 after purchasing an additional 112,812 shares during the last quarter. Barclays PLC raised its position in Outlook Therapeutics by 677.4% in the third quarter. Barclays PLC now owns 20,943 shares of the company’s stock valued at $111,000 after purchasing an additional 18,249 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Outlook Therapeutics during the third quarter valued at about $199,000. Institutional investors and hedge funds own 11.20% of the company’s stock.

Outlook Therapeutics Stock Performance

Shares of NASDAQ:OTLK opened at $1.49 on Monday. Outlook Therapeutics, Inc. has a fifty-two week low of $0.87 and a fifty-two week high of $12.85. The company’s 50-day moving average is $1.88 and its 200 day moving average is $3.84. The company has a market capitalization of $47.71 million, a P/E ratio of -0.20 and a beta of 0.54.

Outlook Therapeutics (NASDAQ:OTLK) last released its earnings results on Friday, February 14th. The company reported ($0.89) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.04). As a group, research analysts predict that Outlook Therapeutics, Inc. will post -2.27 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on OTLK shares. HC Wainwright decreased their price target on shares of Outlook Therapeutics from $30.00 to $3.00 and set a “buy” rating for the company in a research report on Tuesday, February 18th. BTIG Research decreased their price objective on Outlook Therapeutics from $50.00 to $9.00 and set a “buy” rating for the company in a report on Friday, November 29th. Guggenheim reaffirmed a “buy” rating and set a $12.00 target price on shares of Outlook Therapeutics in a research report on Friday, January 17th. Chardan Capital reiterated a “neutral” rating and issued a $3.00 price target on shares of Outlook Therapeutics in a research report on Tuesday, February 18th. Finally, Ascendiant Capital Markets decreased their price target on Outlook Therapeutics from $33.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, February 24th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $10.20.

About Outlook Therapeutics

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.