LVW Advisors LLC recently announced the acquisition of new stake in Outlook Therapeutics Inc. (NASDAQ:OTLK). The institutional investor has increased its shareholding in the Healthcare company by 54.60% to 0.68 million shares with purchase of 0.24 million shares. This fresh investment now brings its stake to 0.55% valued currently at $0.92 million. In addition, The Vanguard Group, Inc. raised its holdings by 7080.0 to 0.54 million shares. And Geode Capital Management LLC has lifted its position by 77.72% or 52254.0 shares – to 0.12 million shares.
With over 4.53 million Outlook Therapeutics Inc. (OTLK) shares trading Monday and a closing price of $1.33 on the day, the dollar volume was approximately $6.02 million. The shares have shown a negative weekly performance of -5.67% and its price on 08/24/20 lost nearly -4.32%. Currently, there are 90.76M common shares owned by the public and among those 54.48M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 5 analysts who have offered their price forecasts for OTLK have a consensus price objective of $5.80. The analysts have set the share’s price value over the next 12 months at a high of $8.00 and a low of $4.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Outlook Therapeutics Inc. stock is 1.60 for the next 12 months. But an upside of 83.38% will see the stock hit the forecast high price target while mean target price for the stock is $6.00.
Insiders at the company have transacted a total of 7 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 5 of these insider trades were purchases, accounting for 10,356,441 shares. Insider sales of the common stock occurred on 2 occasions, with total insider shares sold totaling 2,700 shares.
The top 3 mutual fund holders in Outlook Therapeutics Inc. are Vanguard Extended Market Index Fu, Vanguard Total Stock Market Index, and Fidelity Nasdaq Composite Index F. Vanguard Extended Market Index Fu owns 0.34 million shares of the company’s stock, all valued at over $0.46 million. The company bought an additional 29800.0 shares recently to bring their total holdings to about 0.27% of the shares outstanding. Fidelity Nasdaq Composite Index F now owns shares totaling to 0.04% of the shares outstanding.
Shares of Outlook Therapeutics Inc. (NASDAQ: OTLK) opened at $1.40, up $0.01 from a prior closing price of $1.39. However, the script later closed the day at $1.33, down -4.32%. The company’s stock has a 5-day price change of -5.67% and 52.87% over the past three months. OTLK shares are trading 125.42% year to date (YTD), with the 12-month market performance down to -17.90% lower. It has a 12-month low price of $0.50 and touched a high of $1.95 over the same period. Currently, 4.53 million shares have been traded, compared to an average intraday trading volume of 3.38 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -3.45%, -2.85%, and 33.06% respectively.
Institutional ownership of Outlook Therapeutics Inc. (NASDAQ: OTLK) shares accounts for 1.40% of the company’s 90.76M shares outstanding. Mutual fund holders own 0.80%, while other institutional holders and individual stakeholders account for 59.04% and 0.56% respectively.
It has a market capitalization of $180.08M and a beta (3y monthly) value of 0.39. The earnings-per-share (ttm) stands at -$1.38. Price movements for the stock have been influenced by the stock’s volatility, which stands at 12.56% over the week and 8.47% over the month.
Analysts forecast that Outlook Therapeutics Inc. (OTLK) will achieve an EPS of -$0.07 for the current quarter, -$0.08 for the next quarter and -$0.34 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.08 while analysts give the company a high EPS estimate of -$0.07. Comparatively, EPS for the current quarter was -$0.12 a year ago. Earnings per share for the fiscal year are expected to increase by 79.70%, and 10.70% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 5 brokerage firm advisors rate Outlook Therapeutics Inc. (OTLK) as a “Strong Buy” at a consensus score of 1.60. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 0 of the 5 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the OTLK, a number of firms have released research notes about the stock. Ladenburg Thalmann stated their Buy rating for the stock in a research note on September 11, 2019, with the firm’s price target at $9. Oppenheimer coverage for the Outlook Therapeutics Inc. (OTLK) stock in a research note released on May 16, 2019 offered a Outperform rating with a price target of $12.