Yezan Munther Haddadin Buys 29,000 Shares of Oncobiologics (NASDAQ:OTLK) Stock

Oncobiologics, Inc. (NASDAQ:OTLK) Director Yezan Munther Haddadin purchased 29,000 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were purchased at an average cost of $0.83 per share, for a total transaction of $24,070.00. Following the purchase, the director directly owned 66,167 shares in the company, valued at approximately $54,918.61. This represents a 78.03% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Oncobiologics Price Performance

Shares of NASDAQ:OTLK opened at $0.79 on Friday. The business’s 50 day simple moving average is $0.33 and its 200-day simple moving average is $0.76. The firm has a market capitalization of $111.31 million, a price-to-earnings ratio of -0.68 and a beta of 0.96. Oncobiologics, Inc. has a 12 month low of $0.16 and a 12 month high of $3.39.

Oncobiologics (NASDAQ:OTLK) last announced its quarterly earnings results on Friday, May 15th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.04). The firm had revenue of $0.13 million during the quarter, compared to analyst estimates of $4.39 million. On average, equities analysts anticipate that Oncobiologics, Inc. will post -0.51 earnings per share for the current year.

Wall Street Analyst Weigh In

OTLK has been the topic of several research analyst reports. Ascendiant Capital Markets decreased their price target on Oncobiologics from $10.00 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday, March 11th. HC Wainwright restated a “neutral” rating on shares of Oncobiologics in a research report on Wednesday, February 18th. Weiss Ratings restated a “sell (e+)” rating on shares of Oncobiologics in a research report on Friday, March 27th. BTIG Research restated a “neutral” rating on shares of Oncobiologics in a research report on Monday, May 18th. Finally, Chardan Capital restated a “neutral” rating on shares of Oncobiologics in a research report on Wednesday, February 18th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Oncobiologics currently has an average rating of “Hold” and an average target price of $4.50.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. raised its position in shares of Oncobiologics by 74.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 103,524 shares of the company’s stock worth $126,000 after purchasing an additional 44,063 shares during the last quarter. AQR Capital Management LLC raised its holdings in Oncobiologics by 42.7% in the 1st quarter. AQR Capital Management LLC now owns 84,671 shares of the company’s stock valued at $103,000 after acquiring an additional 25,351 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in Oncobiologics by 865.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 24,477 shares of the company’s stock valued at $39,000 after acquiring an additional 21,941 shares during the last quarter. 11.20% of the stock is currently owned by institutional investors and hedge funds.

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.