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

Tang Capital Management LLC trimmed its holdings in Outlook Therapeutics, Inc. (NASDAQ:OTLK) by 88.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 182,502 shares of the company’s stock after selling 1,377,058 shares during the period. Tang Capital Management LLC owned 0.57% of Outlook Therapeutics worth $345,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Rhumbline Advisers lifted its position in shares of Outlook Therapeutics by 1,329.6% in the fourth quarter. Rhumbline Advisers now owns 188,050 shares of the company’s stock valued at $355,000 after buying an additional 174,896 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Outlook Therapeutics by 44.8% during the fourth quarter. Bank of New York Mellon Corp now owns 29,764 shares of the company’s stock worth $56,000 after purchasing an additional 9,211 shares during the period. Renaissance Technologies LLC bought a new position in shares of Outlook Therapeutics during the fourth quarter worth approximately $246,000. Russell Investments Group Ltd. increased its stake in shares of Outlook Therapeutics by 34,936.7% during the fourth quarter. Russell Investments Group Ltd. now owns 17,168 shares of the company’s stock worth $32,000 after purchasing an additional 17,119 shares during the period. Finally, Barclays PLC increased its stake 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 purchasing an additional 18,249 shares during the period. 11.20% of the stock is owned by institutional investors and hedge funds.

Outlook Therapeutics Price Performance

Outlook Therapeutics stock opened at $1.75 on Monday. The stock’s fifty day moving average price is $1.44 and its two-hundred day moving average price is $2.16. Outlook Therapeutics, Inc. has a one year low of $0.87 and a one year high of $9.25. The firm has a market cap of $57.09 million, a PE ratio of -0.24 and a beta of 0.39.

Outlook Therapeutics (NASDAQ:OTLK) last posted its quarterly earnings data on Thursday, May 15th. The company reported ($0.40) EPS for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.15. Sell-side analysts expect that Outlook Therapeutics, Inc. will post -2.27 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on OTLK. HC Wainwright lowered their target price on Outlook Therapeutics from $30.00 to $3.00 and set a “buy” rating on the stock in a research note on Tuesday, February 18th. Ascendiant Capital Markets lowered their target price on Outlook Therapeutics from $33.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. Finally, Chardan Capital reiterated a “neutral” rating and set a $3.00 target price on shares of Outlook Therapeutics in a research note on Tuesday, February 18th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average 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.