Shares of Outlook Therapeutics, Inc. (NASDAQ:OTLK) dropped 1.8% during trading on Tuesday . The stock traded as low as $1.08 and last traded at $1.07. Approximately 2,576 shares changed hands during mid-day trading, a decline of 99% from the average daily volume of 325,520 shares. The stock had previously closed at $1.09.

OTLK has been the topic of several analyst reports. ValuEngine cut Outlook Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, January 29th. Ascendiant Capital Markets initiated coverage on Outlook Therapeutics in a report on Monday, April 22nd. They issued a “buy” rating and a $4.00 target price on the stock.

Outlook Therapeutics (NASDAQ:OTLK) last announced its earnings results on Wednesday, May 15th. The company reported ($0.58) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.66) by $0.08.

A hedge fund recently bought a new stake in Outlook Therapeutics stock. Renaissance Technologies LLC purchased a new stake in Outlook Therapeutics, Inc. (NASDAQ:OTLK) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 11,166 shares of the company’s stock, valued at approximately $83,000. Renaissance Technologies LLC owned 0.10% of Outlook Therapeutics as of its most recent filing with the Securities & Exchange Commission. 4.60% of the stock is currently owned by institutional investors.

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About Outlook Therapeutics (NASDAQ:OTLK)

Outlook Therapeutics, Inc, a late clinical-stage biopharmaceutical company, focuses on developing and commercializing monoclonal antibody for various ophthalmic indications. Its lead product candidate is ONS-5010, a proprietary ophthalmic bevacizumab product candidate that is in first clinical trial for the treatment of wet age related macular degeneration and other retina diseases.

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