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

Great Point Partners LLC trimmed its holdings in shares of Outlook Therapeutics, Inc. (NASDAQ:OTLK) by 24.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,293,028 shares of the company’s stock after selling 408,482 shares during the period. Outlook Therapeutics makes up about 2.0% of Great Point Partners LLC’s investment portfolio, making the stock its 19th largest holding. Great Point Partners LLC owned 5.47% of Outlook Therapeutics worth $6,905,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. AQR Capital Management LLC bought a new stake in Outlook Therapeutics in the 2nd quarter worth about $75,000. Christensen King & Associates Investment Services Inc. purchased a new stake in shares of Outlook Therapeutics during the 3rd quarter valued at about $55,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Outlook Therapeutics by 55.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 51,459 shares of the company’s stock valued at $275,000 after purchasing an additional 18,287 shares during the last quarter. Squarepoint Ops LLC bought a new position in Outlook Therapeutics during the second quarter valued at approximately $232,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Outlook Therapeutics in the second quarter worth approximately $303,000. Hedge funds and other institutional investors own 11.20% of the company’s stock.

Insider Buying and Selling

In related news, CFO Lawrence A. Kenyon bought 5,000 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was purchased at an average price of $5.69 per share, for a total transaction of $28,450.00. Following the completion of the transaction, the chief financial officer now owns 5,946 shares in the company, valued at $33,832.74. The trade was a 528.54 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.40% of the stock is owned by company insiders.

Outlook Therapeutics Stock Performance

Shares of NASDAQ:OTLK opened at $4.89 on Wednesday. The firm has a fifty day moving average price of $5.54 and a 200 day moving average price of $6.82. Outlook Therapeutics, Inc. has a fifty-two week low of $4.61 and a fifty-two week high of $12.85.

Analysts Set New Price Targets

OTLK has been the topic of several research analyst reports. Chardan Capital reissued a “buy” rating and set a $53.00 price target on shares of Outlook Therapeutics in a report on Friday, August 16th. HC Wainwright reissued a “buy” rating and issued a $30.00 target price on shares of Outlook Therapeutics in a research report on Thursday, August 15th. Ascendiant Capital Markets cut their price target on Outlook Therapeutics from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Tuesday, September 3rd. Finally, BTIG Research restated a “buy” rating and set a $50.00 target price on shares of Outlook Therapeutics in a research report on Friday, October 18th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $48.20.

Outlook Therapeutics Company 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.