BlackRock Fund Advisors 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 2.05% to 8.66 million shares with purchase of 0.17 million shares. This fresh investment now brings its stake to 3.33% valued currently at $3.41 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.13 million to 5.98 million shares. And SSgA Funds Management, Inc. has lifted its position by 1.37% or 37794.0 shares – to 2.79 million shares.
Currently, there are 260.26M common shares owned by the public and among those 131.77M shares have been available to trade.
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Insiders at the company have transacted a total of 1 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 0 of these insider trades were purchases, accounting for 0 shares. Insider sales of the common stock occurred on 1 occasions, with total insider shares sold totaling 520,000 shares.
The top 3 mutual fund holders in Outlook Therapeutics Inc are iShares Russell 2000 ETF, Vanguard Total Stock Market ETF, and Vanguard Extended Market Index Fu. iShares Russell 2000 ETF owns 4.21 million shares of the company’s stock, all valued at over $1.66 million. The company sold 11142.0 shares recently to bring their total holdings to about 1.62% of the shares outstanding. Vanguard Extended Market Index Fu now owns shares totaling to 0.68% of the shares outstanding.
However, the script later moved the day high at 0.4561, up 30.53%. The company’s stock has a 5-day price change of 15.48% and -7.91% over the past three months. OTLK shares are trading 12.64% year to date (YTD), with the 12-month market performance down to -59.28% lower. It has a 12-month low price of $0.20 and touched a high of $2.03 over the same period. OTLK has an average intraday trading volume of 3.92 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 13.12%, 5.75%, and -51.76% respectively.
Institutional ownership of Outlook Therapeutics Inc (NASDAQ: OTLK) shares accounts for 10.61% of the company’s 260.26M shares outstanding. Mutual fund holders own 6.78%, while other institutional holders and individual stakeholders account for 65.37% and 3.88% respectively.
It has a market capitalization of $115.50M and a beta (3y monthly) value of 0.02. The earnings-per-share (ttm) stands at -$0.24. Price movements for the stock have been influenced by the stock’s volatility, which stands at 11.72% over the week and 9.21% over the month.
Analysts forecast that Outlook Therapeutics Inc (OTLK) will achieve an EPS of -$0.05 for the current quarter, -$0.05 for the next quarter and -$0.21 for 2025. The lowest estimate earnings-per-share for the quarter is -$0.06 while analysts give the company a high EPS estimate of -$0.05. Comparatively, EPS for the current quarter was -$0.08 a year ago. Earnings per share for the fiscal year are expected to increase by 12.91%, and 18.67% over the next financial year.
Looking at the support for the OTLK, a number of firms have released research notes about the stock. CapitalOne stated their Overweight rating for the stock in a research note on December 27, 2023, with the firm’s price target at $5.
