BlackRock Fund Advisors recently announced the acquisition of new stake in Outlook Therapeutics Inc. (NASDAQ:OTLK). The institutional investor has increased its shareholding in the Healthcare company by 14.21% to 7.42 million shares with purchase of 0.92 million shares. This fresh investment now brings its stake to 2.89% valued currently at $7.79 million. In addition, The Vanguard Group, Inc. raised its holdings by 40655.0 to 5.43 million shares.
With over 3.05 million Outlook Therapeutics Inc. (OTLK) shares trading Monday and a closing price of $1.63 on the day, the dollar volume was approximately $4.97 million. The shares have shown a positive half year performance of 58.25% and its price on 05/22/23 gained nearly 21.64%. Currently, there are 256.67M common shares owned by the public and among those 109.67M shares have been available to trade.
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Insiders at the company have transacted a total of 15 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 11 of these insider trades were purchases, accounting for 14,523,686 shares. Insider sales of the common stock occurred on 4 occasions, with total insider shares sold totaling 431,155 shares.
The top 3 mutual fund holders in Outlook Therapeutics Inc. are Vanguard Total Stock Market ETF, iShares Russell 2000 ETF, and Vanguard Extended Market Index Fu. Vanguard Total Stock Market ETF owns 3.61 million shares of the company’s stock, all valued at over $3.79 million. iShares Russell 2000 ETF sold 41600.0 shares to see its total holdings shrink to 2.84 million shares valued at over $2.98 million and representing 1.11% of the shares outstanding. Vanguard Extended Market Index Fu bought 11708.0 shares to bring its total holdings to over 1.33 million shares at a value of $1.4 million. Vanguard Extended Market Index Fu now owns shares totaling to 0.52% of the shares outstanding.
Shares of Outlook Therapeutics Inc. (NASDAQ: OTLK) opened at $1.40, up $0.06 from a prior closing price of $1.34. However, the script later moved the day high at 1.6500, up 21.64%. The company’s stock has a 5-day price change of 35.83% and 40.52% over the past three months. OTLK shares are trading 50.93% year to date (YTD), with the 12-month market performance up to 7.24% higher. It has a 12-month low price of $0.68 and touched a high of $1.70 over the same period. OTLK has an average intraday trading volume of 606.41K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 42.05%, 49.24%, and 45.55% respectively.
Institutional ownership of Outlook Therapeutics Inc. (NASDAQ: OTLK) shares accounts for 10.70% of the company’s 256.67M shares outstanding. Mutual fund holders own 5.73%, while other institutional holders and individual stakeholders account for 66.28% and 5.41% respectively.
It has a market capitalization of $380.87M and a beta (3y monthly) value of 0.62. The earnings-per-share (ttm) stands at -$0.25. Price movements for the stock have been influenced by the stock’s volatility, which stands at 8.93% over the week and 6.66% over the month.
Analysts forecast that Outlook Therapeutics Inc. (OTLK) will achieve an EPS of -$0.06 for the current quarter, -$0.06 for the next quarter and -$0.05 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.08 while analysts give the company a high EPS estimate of -$0.04. Comparatively, EPS for the current quarter was -$0.08 a year ago. Earnings per share for the fiscal year are expected to increase by 10.60%, and 79.20% over the next financial year.
