Outlook Therapeutics Inc. [OTLK] Stock trading around $1.15 per share: What’s Next?

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Outlook Therapeutics Inc. [NASDAQ: OTLK] stock went on a downward path that fall over -31.95% on Tuesday, amounting to a one-week price decrease of less than -26.75%. The company report on May 31, 2022 that Outlook Therapeutics Provides Update on Biologics License Application (BLA) Submission for ONS-5010 as a Treatment for Wet AMD.


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Outlook Therapeutics, Inc. (Nasdaq: OTLK), a pre-commercial biopharmaceutical company working to develop and launch the first FDA-approved ophthalmic formulation of bevacizumab for use in retinal indications, today announced that the U.S. Food and Drug Administration (FDA) has requested additional information in order to complete the filing of the Company’s Biologics License Application (BLA) for ONS-5010/ LYTENAVA™ (bevacizumab-vikg) for the treatment of wet age-related macular degeneration (wet AMD). Outlook Therapeutics has voluntarily withdrawn its BLA for ONS-5010 and is actively working to respond to the FDA’s request. The Company plans to re-submit a revised BLA by September 2022.

Russell Trenary, President and Chief Executive Officer of Outlook Therapeutics, commented, “We remain confident in ONS-5010 and its potential to be the first FDA-approved ophthalmic formulation of bevacizumab that avoids the public health risk to patients of off-label treatment of bevacizumab that was never approved for any ophthalmic indications. We are continuing to have productive discussions with the FDA and are committed to providing the additional information necessary to support the application. We look forward to a successful resubmission and ultimately the potential approval of ONS-5010 for the treatment of wet AMD. We also look forward to a future where virtually all retina patients treated with bevacizumab are receiving an FDA-approved ophthalmic therapy.”.

Over the last 12 months, OTLK stock dropped by -58.33%. The one-year Outlook Therapeutics Inc. stock forecast points to a potential upside of 83.38. The average equity rating for OTLK stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $241.36 million, with 219.07 million shares outstanding and 130.86 million shares in the current float. Compared to the average trading volume of 1.14M shares, OTLK stock reached a trading volume of 21213966 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Outlook Therapeutics Inc. [OTLK]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for OTLK shares is $6.92 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on OTLK stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Ladenburg Thalmann have made an estimate for Outlook Therapeutics Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 11, 2019. While these analysts kept the previous recommendation, Oppenheimer raised their target price to Outperform. The new note on the price target was released on May 16, 2019, representing the official price target for Outlook Therapeutics Inc. stock.

The Average True Range (ATR) for Outlook Therapeutics Inc. is set at 0.16 The Price to Book ratio for the last quarter was 7.19, with the Price to Cash per share for the same quarter was set at 0.28.

OTLK Stock Performance Analysis:

Outlook Therapeutics Inc. [OTLK] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -26.75. With this latest performance, OTLK shares dropped by -25.81% in over the last four-week period, additionally sinking by -20.14% over the last 6 months – not to mention a drop of -58.33% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for OTLK stock in for the last two-week period is set at 31.69, with the RSI for the last a single of trading hit 27.95, and the three-weeks RSI is set at 34.78 for Outlook Therapeutics Inc. [OTLK]. The present Moving Average for the last 50 days of trading for this stock 1.7126, while it was recorded at 1.4820 for the last single week of trading, and 1.7894 for the last 200 days.

Insight into Outlook Therapeutics Inc. Fundamentals:

Return on Equity for this stock declined to -1,430.33, with Return on Assets sitting at -249.92.

Outlook Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.10 and a Current Ratio set at 2.10.

Outlook Therapeutics Inc. [OTLK] Insider Position Details

There are presently around $43 million, or 12.10% of OTLK stock, in the hands of institutional investors. The top three institutional holders of OTLK stocks are: BLACKROCK INC. with ownership of 6,680,116, which is approximately 12.863% of the company’s market cap and around 1.20% of the total institutional ownership; VANGUARD GROUP INC, holding 5,636,119 shares of the stock with an approximate value of $9.53 million in OTLK stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $3.15 million in OTLK stock with ownership of nearly 21.566% of the company’s market capitalization.

Positions in Outlook Therapeutics Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 37 institutional holders increased their position in Outlook Therapeutics Inc. [NASDAQ:OTLK] by around 3,949,318 shares. Additionally, 30 investors decreased positions by around 2,554,924 shares, while 15 investors held positions by with 18,838,618 shares. The mentioned changes placed institutional holdings at 25,342,860 shares, according to the latest SEC report filing. OTLK stock had 14 new institutional investments in for a total of 1,383,170 shares, while 9 institutional investors sold positions of 422,051 shares during the same period.

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