BlackRock Fund Advisors has recently announced that it has increased stake in Outlook Therapeutics Inc (NASDAQ:OTLK) by 2.05%. After grabbing 8.66 million shares, the institutional investor is now in possession of 0.17 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 3.33% having worth around $4.16 million. Moreover, The Vanguard Group, Inc. increased its share by 0.13 million to have a control over 5.98 million shares. And SSgA Funds Management, Inc. raised its holdings to 37794.0 shares by acquiring 2.79 million shares or 1.07% of the stake.
Outlook Therapeutics Inc (OTLK) concluded trading on 12/27/23 at a closing price of $0.46, with 5.89 million shares of worth about $2.71 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -72.22% during that period and on Wednesday the price saw a gain of about 3.72%. Currently the company’s common shares owned by public are about 260.26M shares, out of which, 131.76M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 6 analysts are covering the OTLK stock and their offered price forecasts bring an average price target of $2.67. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $5.00 and could fall to a lowest price of $1.00. The stock’s current price level is 82.77% above of average price target set by the analysts, while a rise to estimated low would result in gain of 54.0% for the stock. However, touching the estimated high of $5.00 would mean a gain of 90.8% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 6 times over the past 12 months. They bought 14,230,418 shares in 1 of the transactions. In 5 selling transactions, insiders dumped 951,155 shares.
iShares Russell 2000 ETF, Vanguard Total Stock Market ETF, and iShares Russell 2000 Growth ETF are the top 3 mutual funds which are holding stakes in Outlook Therapeutics Inc iShares Russell 2000 ETF is currently holding 3.78 million shares of worth totaling $1.81 million. The company recently came buying 1857.0 shares which brought its stake up to 1.45% of the company’s outstanding shares. iShares Russell 2000 Growth ETF, after selling 1.82 million shares, have now control over 0.70% of the stake in the company. It holds 6399.0 shares of worth $0.87 million.
Outlook Therapeutics Inc (NASDAQ: OTLK) started trading at $0.50, above $0.05 from concluding price of the previous day. However, the stock later moved at a day high price of 0.5000, or with a gain of 3.72%. Stock saw a price change of 11.82% in past 5 days and over the past one month there was a price change of -2.03%. Year-to-date (YTD), OTLK shares are showing a performance of -57.17% which decreased to -56.77% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $0.20 but also hit the highest price of $2.03 during that period. The average intraday trading volume for Outlook Therapeutics Inc shares is 7.18 million. The stock is currently trading 6.98% above its 20-day simple moving average (SMA20), while that difference is up 1.16% for SMA50 and it goes to -52.57% lower than SMA200.
BlackRock Fund Advisors acquired 8.66 million shares of Outlook Therapeutics Inc having value of about $4.16 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 0.17 million shares in the company valued at close to $80194.56, or have control over 2.05% stake in the company. Outlook Therapeutics Inc (NASDAQ: OTLK) currently have 260.26M outstanding shares and institutions hold larger chunk of about 10.59% of that. Holding of mutual funds in the company is about 6.57% while other institutional holders and individual stake holders have control over 65.37% and 4.02% of the stake respectively.
The stock has a current market capitalization of $120.40M and its 3Y-monthly beta is at 0.24. It has posted earnings per share of -$0.24 in the same period. It has Quick Ratio of 0.66. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for OTLK, volatility over the week remained 9.40% while standing at 8.51% over the month.
Analysts are in expectations that Outlook Therapeutics Inc (OTLK) stock would likely to be making an EPS of $Outlook Therapeutics, Inc. in the current quarter, while forecast for next quarter EPS is $0.46 and it is $Stocks for next year. For the current quarter EPS, analysts have given the company a lowest target $ONCOTELIC THERAPEUTICS INC which is $Ontrak, Inc. at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $ProShares K-1 Free Crude Oil St in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 16.32% while it is estimated to increase by 28.63% in next year.
Analysts at 6 brokerage firms have issued recommendations for the Outlook Therapeutics Inc (OTLK)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.50. Out of those 6 Wall Street analysts, 1 recommended a “Buy” rating, while 4 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by CapitalOne on Dec-28-23 offering an Overweight rating for the stock and assigned a target price of $5 to it.
