Short Interest in Outlook Therapeutics, Inc. (NASDAQ:OTLK) Declines By 18.5%

Outlook Therapeutics, Inc. (NASDAQ:OTLK) saw a large drop in short interest during the month of June. As of June 30th, there was short interest totalling 1,376,200 shares, a drop of 18.5% from the May 30th total of 1,688,200 shares. Approximately 57.1% of the shares of the company are short sold. Based on an average trading volume of 4,920,000 shares, the days-to-cover ratio is currently 0.3 days.

OTLK traded down $0.02 during trading hours on Friday, hitting $2.11. The stock had a trading volume of 162,200 shares, compared to its average volume of 2,425,751. The firm’s fifty day simple moving average is $2.23. Outlook Therapeutics has a 1 year low of $0.85 and a 1 year high of $10.96. The stock has a market capitalization of $56.01 million, a PE ratio of -0.20 and a beta of -0.86.

Outlook Therapeutics (NASDAQ:OTLK) last announced its quarterly earnings data on Wednesday, May 15th. The company reported ($0.58) earnings per share for the quarter, topping the consensus estimate of ($0.66) by $0.08. The firm had revenue of $0.64 million during the quarter. As a group, analysts forecast that Outlook Therapeutics will post -1.95 EPS for the current year.

A hedge fund recently bought a new stake in Outlook Therapeutics stock. Chicago Capital LLC bought a new stake in shares of Outlook Therapeutics, Inc. (NASDAQ:OTLK) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 19,450 shares of the company’s stock, valued at approximately $40,000. Chicago Capital LLC owned approximately 0.07% of Outlook Therapeutics as of its most recent SEC filing. 0.79% of the stock is owned by institutional investors.

OTLK has been the subject of several recent research reports. ValuEngine raised XPO Logistics from a “strong sell” rating to a “sell” rating in a report on Thursday, April 4th. Oppenheimer initiated coverage on Outlook Therapeutics in a report on Thursday, May 16th. They issued an “outperform” rating and a $12.00 price objective for the company. CIBC reissued a “hold” rating and issued a $3.00 price objective on shares of Information Services Group in a report on Thursday, May 16th. Finally, Ascendiant Capital Markets initiated coverage on Graham in a report on Monday, April 22nd. They issued a “buy” rating and a $1.59 price objective for the company.

About Outlook Therapeutics

Outlook Therapeutics, Inc, a late clinical-stage biopharmaceutical company, focuses on developing and commercializing monoclonal antibody for various ophthalmic indications. Its lead product candidate is ONS-5010, a proprietary ophthalmic bevacizumab product candidate that is in first clinical trial for the treatment of wet age related macular degeneration and other retina diseases.

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