Oncobiologics (NASDAQ:OTLK) Director Ghiath Sukhtian Buys 2,525,252 Shares of Stock

Key Points

• Director Ghiath Sukhtian purchased 2,525,252 Oncobiologics shares at an average price of $0.99, investing roughly $2.5 million and increasing his stake by 11.43% to 24.6 million shares.
• OTLK shares recently traded at $0.76, well below the 50-day moving average of $1.31, while the company’s latest quarterly results missed expectations with a $0.09-per-share loss and only $10,000 in revenue.
• Analyst sentiment is mixed, with two Buy, four Hold and one Sell rating; the average price target is $4.65, compared with the stock’s recent trading price.

Oncobiologics, Inc. (NASDAQ:OTLK - Get Free Report) Director Ghiath Sukhtian bought 2,525,252 shares of Oncobiologics stock in a transaction that occurred on Wednesday, August 12th. The stock was bought at an average cost of $0.99 per share, with a total value of $2,499,999.48. Following the completion of the purchase, the director owned 24,617,320 shares in the company, valued at approximately $24,371,146.80. This trade represents a 11.43% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Oncobiologics Price Performance

OTLK stock traded down $0.13 during trading hours on Friday, reaching $0.76. 104,469,209 shares of the stock were exchanged, compared to its average volume of 17,814,098. The firm's 50-day moving average is $1.31 and its 200-day moving average is $0.70. Oncobiologics, Inc. has a 12 month low of $0.16 and a 12 month high of $3.39. The company has a market cap of $112.39 million, a price-to-earnings ratio of -0.65 and a beta of 0.82.

Oncobiologics (NASDAQ:OTLK - Get Free Report) last issued its quarterly earnings results on Friday, August 14th. The company reported ($0.09) EPS 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 the consensus estimate of $0.97 million. As a group, equities research analysts forecast that Oncobiologics, Inc. will post -0.49 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. boosted its holdings in shares of Oncobiologics by 74.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 103,524 shares of the company's stock valued at $126,000 after buying an additional 44,063 shares during the last quarter. AQR Capital Management LLC increased its holdings in Oncobiologics by 42.7% during the first quarter. AQR Capital Management LLC now owns 84,671 shares of the company's stock worth $103,000 after buying an additional 25,351 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in Oncobiologics by 865.2% during the second quarter. Russell Investments Group Ltd. now owns 24,477 shares of the company's stock worth $39,000 after acquiring an additional 21,941 shares in the last quarter. Institutional investors and hedge funds own 11.20% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on OTLK shares. Weiss Ratings raised shares of Oncobiologics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday. BTIG Research reissued a "buy" rating and issued a $4.00 price objective on shares of Oncobiologics in a research report on Friday. HC Wainwright increased their target price on shares of Oncobiologics to $1.60 and gave the stock a "neutral" rating in a report on Monday, July 27th. Wall Street Zen raised shares of Oncobiologics from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. Finally, Ascendiant Capital Markets boosted their price target on shares of Oncobiologics from $6.00 to $10.00 and gave the stock a "buy" rating in a research report on Thursday, June 11th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $4.65.

Oncobiologics Company Profile

Oncobiologics, Inc is a clinical-stage biopharmaceutical company specializing in the development of biosimilar therapeutics for cancer and autoimmune diseases. Leveraging recombinant DNA technology and advanced formulation platforms, the company aims to create high-quality, cost-effective alternatives to originator biologic drugs. Oncobiologics' research focus includes monoclonal antibodies and growth factors that support oncology treatment and immunomodulation.

Founded in 2005 and headquartered in Marlborough, Massachusetts, Oncobiologics maintains research facilities in the Greater Boston area and an integrated manufacturing site in Hyderabad, India, through its wholly owned subsidiary.

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