Oncobiologics (NASDAQ:OTLK) Director Acquires $5,038,428.31 in Stock

Oncobiologics, Inc. (NASDAQ:OTLK) Director Ghiath Sukhtian acquired 8,539,709 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The shares were purchased at an average price of $0.59 per share, with a total value of $5,038,428.31. Following the completion of the acquisition, the director owned 22,092,068 shares of the company’s stock, valued at $13,034,320.12. This represents a 63.01% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Oncobiologics Trading Down 0.5%

Shares of NASDAQ:OTLK opened at $0.81 on Thursday. Oncobiologics, Inc. has a 1 year low of $0.16 and a 1 year high of $3.39. The business has a fifty day simple moving average of $0.31 and a 200 day simple moving average of $0.76. The firm has a market cap of $113.41 million, a price-to-earnings ratio of -0.69 and a beta of 0.96.

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

Analyst Ratings Changes

Several equities analysts have weighed in on OTLK shares. Ascendiant Capital Markets cut their target price on Oncobiologics from $10.00 to $6.00 and set a “buy” rating on the stock in a report on Wednesday, March 11th. Wall Street Zen raised Oncobiologics to a “sell” rating in a research report on Saturday, May 30th. BTIG Research reaffirmed a “neutral” rating on shares of Oncobiologics in a research report on Monday, May 18th. Chardan Capital restated a “neutral” rating on shares of Oncobiologics in a report on Wednesday, February 18th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Oncobiologics in a report on Friday, March 27th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Oncobiologics presently has a consensus rating of “Hold” and a consensus target price of $4.50.

Hedge Funds Weigh In On Oncobiologics

Institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. increased its stake in shares of Oncobiologics by 865.2% in the second quarter. Russell Investments Group Ltd. now owns 24,477 shares of the company’s stock worth $39,000 after purchasing an additional 21,941 shares during the period. AQR Capital Management LLC increased its stake in shares of Oncobiologics by 42.7% in the first quarter. AQR Capital Management LLC now owns 84,671 shares of the company’s stock worth $103,000 after purchasing an additional 25,351 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of Oncobiologics by 74.1% in the first 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 period. 11.20% of the stock is currently owned by institutional investors.

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.