Tang Capital Management LLC Sells 1,377,058 Shares of Outlook Therapeutics, Inc. (NASDAQ:OTLK)

Tang Capital Management LLC cut its holdings in shares of Outlook Therapeutics, Inc. (NASDAQ:OTLK - Free Report) by 88.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 182,502 shares of the company's stock after selling 1,377,058 shares during the quarter. 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 institutional investors have also made changes to their positions in the business. Jane Street Group LLC boosted its stake in Outlook Therapeutics by 133.9% in the 4th quarter. Jane Street Group LLC now owns 26,218 shares of the company's stock valued at $50,000 after purchasing an additional 15,008 shares during the period. Scotia Capital Inc. boosted its stake in Outlook Therapeutics by 124.4% in the 4th quarter. Scotia Capital Inc. now owns 73,989 shares of the company's stock valued at $140,000 after purchasing an additional 41,023 shares during the period. Renaissance Technologies LLC bought a new stake in Outlook Therapeutics in the 4th quarter valued at $246,000. Russell Investments Group Ltd. boosted its stake in Outlook Therapeutics by 34,936.7% in the 4th quarter. Russell Investments Group Ltd. now owns 17,168 shares of the company's stock valued at $32,000 after purchasing an additional 17,119 shares during the period. Finally, Commonwealth Equity Services LLC bought a new stake in Outlook Therapeutics in the 4th quarter valued at $48,000. 11.20% of the stock is owned by institutional investors and hedge funds.

Outlook Therapeutics Trading Down 2.4%

Outlook Therapeutics stock traded down $0.04 during midday trading on Friday, reaching $1.60. The company's stock had a trading volume of 1,861,737 shares, compared to its average volume of 765,249. Outlook Therapeutics, Inc. has a 52 week low of $0.87 and a 52 week high of $9.25. The business has a 50-day moving average price of $1.46 and a 200-day moving average price of $2.03. The stock has a market cap of $53.71 million, a PE ratio of -0.22 and a beta of 0.39.

Outlook Therapeutics (NASDAQ:OTLK - Get Free Report) last released its earnings results on Thursday, May 15th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.55) by $0.15. As a group, research analysts predict that Outlook Therapeutics, Inc. will post -2.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on OTLK shares. HC Wainwright reduced their price target on Outlook Therapeutics from $30.00 to $3.00 and set a "buy" rating for the company in a research note on Tuesday, February 18th. Ascendiant Capital Markets cut their target price on Outlook Therapeutics from $33.00 to $24.00 and set a "buy" rating for the company in a research report on Monday, February 24th. Guggenheim reiterated a "buy" rating on shares of Outlook Therapeutics in a research report on Tuesday. Finally, Chardan Capital reiterated a "neutral" rating and set a $3.00 target price on shares of Outlook Therapeutics in a research report on Tuesday, February 18th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $10.20.

About Outlook Therapeutics

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.