Tang Capital Management LLC Has $345,000 Stock Position in Outlook Therapeutics, Inc. (NASDAQ:OTLK)

Tang Capital Management LLC trimmed its stake in Outlook Therapeutics, Inc. (NASDAQ:OTLK - Free Report) by 88.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 182,502 shares of the company's stock after selling 1,377,058 shares during the period. Tang Capital Management LLC owned about 0.57% of Outlook Therapeutics worth $345,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of OTLK. Rhumbline Advisers boosted its stake in shares of Outlook Therapeutics by 1,329.6% in the 4th quarter. Rhumbline Advisers now owns 188,050 shares of the company's stock valued at $355,000 after purchasing an additional 174,896 shares in the last quarter. Renaissance Technologies LLC bought a new position in Outlook Therapeutics during the 4th quarter valued at about $246,000. Scotia Capital Inc. boosted its position in Outlook Therapeutics by 124.4% in the fourth quarter. Scotia Capital Inc. now owns 73,989 shares of the company's stock valued at $140,000 after buying an additional 41,023 shares in the last quarter. Commonwealth Equity Services LLC bought a new stake in Outlook Therapeutics during the fourth quarter worth about $48,000. Finally, Barclays PLC increased its holdings in shares of Outlook Therapeutics by 677.4% during the third quarter. Barclays PLC now owns 20,943 shares of the company's stock worth $111,000 after buying an additional 18,249 shares in the last quarter. 11.20% of the stock is currently owned by institutional investors.

Outlook Therapeutics Price Performance

Shares of OTLK stock traded up $0.01 on Thursday, reaching $1.64. 742,903 shares of the stock were exchanged, compared to its average volume of 754,764. Outlook Therapeutics, Inc. has a one year low of $0.87 and a one year high of $9.25. The stock has a market cap of $53.50 million, a PE ratio of -0.22 and a beta of 0.39. The stock has a 50 day moving average price of $1.45 and a 200 day moving average price of $2.10.

Outlook Therapeutics (NASDAQ:OTLK - Get Free Report) last announced its quarterly earnings data on Thursday, May 15th. The company reported ($0.40) earnings per share for the quarter, topping the consensus estimate of ($0.55) by $0.15. On average, research analysts expect that Outlook Therapeutics, Inc. will post -2.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on OTLK shares. Chardan Capital reaffirmed a "neutral" rating and set a $3.00 price target on shares of Outlook Therapeutics in a report on Tuesday, February 18th. Ascendiant Capital Markets decreased their target price on Outlook Therapeutics from $33.00 to $24.00 and set a "buy" rating on the stock in a report on Monday, February 24th. Finally, HC Wainwright reduced their price target on shares of Outlook Therapeutics from $30.00 to $3.00 and set a "buy" rating on the stock in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $10.20.

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.