Great Point Partners LLC Sells 408,482 Shares of Outlook Therapeutics, Inc. (NASDAQ:OTLK)

Great Point Partners LLC lowered its holdings in shares of Outlook Therapeutics, Inc. (NASDAQ:OTLK) by 24.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,293,028 shares of the company’s stock after selling 408,482 shares during the quarter. Outlook Therapeutics accounts for about 2.0% of Great Point Partners LLC’s portfolio, making the stock its 19th largest position. Great Point Partners LLC owned about 0.05% of Outlook Therapeutics worth $6,905,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. AQR Capital Management LLC bought a new position in Outlook Therapeutics during the second quarter valued at $75,000. Christensen King & Associates Investment Services Inc. bought a new stake in shares of Outlook Therapeutics in the 3rd quarter worth about $55,000. Charles Schwab Investment Management Inc. lifted its holdings 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 during the last quarter. Squarepoint Ops LLC bought a new stake in shares of Outlook Therapeutics in the 2nd quarter worth about $232,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Outlook Therapeutics in the 2nd quarter worth about $303,000. Institutional investors own 11.20% of the company’s stock.

Outlook Therapeutics Price Performance

NASDAQ OTLK opened at $4.89 on Wednesday. The company’s 50-day simple moving average is $5.54 and its two-hundred day simple moving average is $6.82. Outlook Therapeutics, Inc. has a one year low of $4.61 and a one year high of $12.85.

Insider Transactions at Outlook Therapeutics

In other news, CFO Lawrence A. Kenyon acquired 5,000 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were purchased at an average price of $5.69 per share, with a total value of $28,450.00. Following the transaction, the chief financial officer now directly owns 5,946 shares in the company, valued at approximately $33,832.74. This represents a 528.54 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on OTLK shares. HC Wainwright restated a “buy” rating and issued a $30.00 target price on shares of Outlook Therapeutics in a report on Thursday, August 15th. Ascendiant Capital Markets lowered their target price on shares of Outlook Therapeutics from $35.00 to $33.00 and set a “buy” rating for the company in a report on Tuesday, September 3rd. BTIG Research reaffirmed a “buy” rating and issued a $50.00 price target on shares of Outlook Therapeutics in a research note on Friday, October 18th. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $53.00 price target on shares of Outlook Therapeutics in a research note on Friday, August 16th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, Outlook Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $48.20.

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.