Key Points
- Director Ghiath Sukhtian bought 8,539,709 shares of Oncobiologics at $0.59 each, a total purchase of about $5.0 million. After the transaction, his stake rose to 22,092,068 shares, a 63% increase in ownership.
- OTLK shares jumped 15.5% and opened at $0.84, far below the stock’s 12-month high of $3.39 but above its 50-day average of $0.30.
- The company recently reported a quarterly loss and weak revenue, missing analyst estimates on both EPS and sales. Wall Street’s overall view remains Hold, with a consensus target price of $4.50.
Oncobiologics, Inc. (NASDAQ:OTLK - Get Free Report) Director Ghiath Sukhtian purchased 8,539,709 shares of Oncobiologics stock in a transaction that occurred on Thursday, May 28th. The shares were bought at an average price of $0.59 per share, for a total transaction of $5,038,428.31. Following the transaction, the director owned 22,092,068 shares in the company, valued at $13,034,320.12. This represents a 63.01% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Oncobiologics Stock Up 15.5%
Shares of NASDAQ OTLK opened at $0.84 on Tuesday. The firm's 50-day simple moving average is $0.30 and its 200 day simple moving average is $0.77. The company has a market cap of $101.88 million, a price-to-earnings ratio of -0.72 and a beta of 0.94. Oncobiologics, Inc. has a 12-month low of $0.16 and a 12-month high of $3.39.
Oncobiologics (NASDAQ:OTLK - Get Free Report) last released its earnings results on Friday, May 15th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.04). The business had revenue of $0.13 million for the quarter, compared to the consensus estimate of $4.39 million. On average, equities analysts expect that Oncobiologics, Inc. will post -0.51 earnings per share for the current year.
Institutional Trading of Oncobiologics
A number of institutional investors and hedge funds have recently modified their holdings of OTLK. Goldman Sachs Group Inc. increased its stake in Oncobiologics by 74.1% during the 1st 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 in the last quarter. AQR Capital Management LLC increased its stake in Oncobiologics by 42.7% during the 1st 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 in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Oncobiologics by 865.2% during the 2nd 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 in the last quarter. 11.20% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on OTLK shares. Wall Street Zen upgraded shares of Oncobiologics to a "sell" rating in a research report on Saturday. Ascendiant Capital Markets cut their target price on shares of Oncobiologics from $10.00 to $6.00 and set a "buy" rating on the stock in a research report on Wednesday, March 11th. Chardan Capital restated a "neutral" rating on shares of Oncobiologics in a research report on Wednesday, February 18th. BTIG Research restated a "neutral" rating on shares of Oncobiologics in a research report on Monday, May 18th. Finally, HC Wainwright restated a "neutral" rating on shares of Oncobiologics in a research report on Wednesday, February 18th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Oncobiologics has a consensus rating of "Hold" and a consensus target price of $4.50.
Read Our Latest Report on OTLK
About Oncobiologics
(
Get Free Report)
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.
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