Outlook Therapeutics Inc (NASDAQ: OTLK) : Investors Should Not Dump OTLK Stock In 2024

In the last trading session, 1.09 million Outlook Therapeutics Inc (NASDAQ:OTLK) shares changed hands as the company’s beta touched -0.02. With the company’s per share price at $0.41 changed hands at -$0.04 or -7.69% during last session, the market valuation stood at $107.77M. OTLK’s last price was a discount, traded about -395.12% off its 52-week high of $2.03. The share price had its 52-week low at $0.20, which suggests the last value was 51.22% up since then. When we look at Outlook Therapeutics Inc’s average trading volume, we note the 10-day average is 1.52 million shares, with the 3-month average coming to 0.52.

Outlook Therapeutics Inc (NASDAQ:OTLK) trade information

Instantly OTLK was in red as seen at the end of in last trading. With action 13.70%, the performance over the past five days has been green. The drop to weekly highs of 0.4600 subtracted -7.69% to the stock’s daily price. The company’s shares are showing year-to-date upside of 5.10%, with the 5-day performance at 13.70% in the green. However, in the 30-day time frame, Outlook Therapeutics Inc (NASDAQ:OTLK) is 8.97% up. Looking at the short shares, we see there were 13.57 million shares sold at short interest cover period of 5.22 days.

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Outlook Therapeutics Inc (OTLK) estimates and forecasts

Data shows that the Outlook Therapeutics Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -74.28% over the past 6 months, a 16.67% in annual growth rate that is considerably higher than the industry average of 15.50%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Outlook Therapeutics Inc will rise 37.50%, while the growth in revenue is estimated to hit -66.70% for the next quarter.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 52.48%. The 2024 estimates are for Outlook Therapeutics Inc earnings to increase by 12.85%.

Outlook Therapeutics Inc (NASDAQ:OTLK)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 43.32% of Outlook Therapeutics Inc shares while 10.43% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 18.41%. There are 10.43% institutions holding the Outlook Therapeutics Inc stock share, with Blackrock Inc. the top institutional holder. As of Jun 29, 2023, the company held 3.54% of the shares, roughly 9.22 million OTLK shares worth $16.04 million.

Vanguard Group Inc holds the second largest percentage of outstanding shares, with 2.36% or 6.15 million shares worth $10.7 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. With 3.61 million shares estimated at $6.28 million under it, the former controlled 1.39% of total outstanding shares. On the other hand, iShares Russell 2000 ETF held about 1.37% of the shares, roughly 3.58 million shares worth around $0.82 million.

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