Oncobiologics, Inc. (NASDAQ:OTLK – Get Free Report) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 32,910,138 shares, an increase of 65.4% from the August 15th total of 19,899,576 shares. Currently, 13.8% of the shares of the company are short sold. Based on an average daily trading volume, of 20,062,834 shares, the short-interest ratio is currently 1.6 days.
Oncobiologics Stock Performance
Shares of OTLK stock opened at $0.68 on Thursday. The stock has a fifty day simple moving average of $0.95 and a two-hundred day simple moving average of $0.74. The firm has a market capitalization of $164.79 million, a PE ratio of -0.88 and a beta of 0.74. Oncobiologics has a 52-week low of $0.16 and a 52-week high of $2.54.
Oncobiologics (NASDAQ:OTLK – Get Free Report) last released its quarterly earnings data on Friday, August 14th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The firm had revenue of $0.01 million during the quarter, compared to analysts’ expectations of $0.97 million. On average, sell-side analysts forecast that Oncobiologics will post -0.47 EPS for the current fiscal year.
Insider Buying and Selling at Oncobiologics
Hedge Funds Weigh In On Oncobiologics
A hedge fund recently bought a new stake in Oncobiologics stock. NewEdge Advisors LLC bought a new stake in shares of Oncobiologics, Inc. (NASDAQ:OTLK – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 16,722 shares of the company’s stock, valued at approximately $27,000. Institutional investors and hedge funds own 11.20% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on OTLK. Ascendiant Capital Markets raised their price objective on shares of Oncobiologics from $6.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. BTIG Research reiterated a “buy” rating and issued a $4.00 price target on shares of Oncobiologics in a research report on Friday, August 14th. Wall Street Zen cut shares of Oncobiologics from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Weiss Ratings raised shares of Oncobiologics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, August 12th. Finally, HC Wainwright upped their price objective on Oncobiologics to $1.60 and gave the stock a “neutral” rating in a research note on Monday, July 27th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Oncobiologics has an average rating of “Hold” and an average target price of $5.20.
View Our Latest Stock Report on Oncobiologics
Oncobiologics Company Profile
Oncobiologics, Inc, now known as Outlook Therapeutics, Inc (NASDAQ: OTLK), is a biopharmaceutical company focused on developing and commercializing ophthalmic medicines. The company specializes in biologic therapies intended to address diseases affecting the eye, with an emphasis on retinal disorders.
The company’s lead product is ONS-5010, an ophthalmic formulation of bevacizumab developed for intravitreal treatment of wet age-related macular degeneration and other retinal conditions.
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