Outlook Therapeutics, Inc. (NASDAQ:OTLK) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its stake in Outlook Therapeutics, Inc. (NASDAQ:OTLK) by 44.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 29,764 shares of the company’s stock after purchasing an additional 9,211 shares during the period. Bank of New York Mellon Corp owned 0.09% of Outlook Therapeutics worth $56,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Rhumbline Advisers increased its holdings in Outlook Therapeutics by 1,329.6% in the fourth quarter. Rhumbline Advisers now owns 188,050 shares of the company’s stock valued at $355,000 after buying an additional 174,896 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Outlook Therapeutics by 55.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 51,459 shares of the company’s stock worth $275,000 after acquiring an additional 18,287 shares in the last quarter. State Street Corp increased its holdings in shares of Outlook Therapeutics by 10.0% in the 3rd quarter. State Street Corp now owns 232,542 shares of the company’s stock valued at $1,242,000 after acquiring an additional 21,201 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Outlook Therapeutics by 49.2% during the 3rd quarter. Geode Capital Management LLC now owns 341,959 shares of the company’s stock valued at $1,826,000 after acquiring an additional 112,812 shares in the last quarter. Finally, Barclays PLC raised its position in shares of Outlook Therapeutics by 677.4% during the 3rd quarter. Barclays PLC now owns 20,943 shares of the company’s stock valued at $111,000 after acquiring an additional 18,249 shares in the last quarter. Institutional investors and hedge funds own 11.20% of the company’s stock.

Outlook Therapeutics Stock Performance

Outlook Therapeutics stock opened at $1.32 on Monday. Outlook Therapeutics, Inc. has a one year low of $0.87 and a one year high of $12.85. The company has a 50-day simple moving average of $1.67 and a 200-day simple moving average of $3.20. The firm has a market capitalization of $42.26 million, a P/E ratio of -0.18 and a beta of 0.54.

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

Analyst Ratings Changes

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

Outlook Therapeutics 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.