Oncobiologics (NASDAQ:OTLK) Director Ghiath Sukhtian Buys 8,539,709 Shares

Oncobiologics, Inc. (NASDAQ:OTLK) Director Ghiath Sukhtian purchased 8,539,709 shares of the company’s stock in a transaction dated Thursday, May 28th. The stock was purchased at an average cost of $0.59 per share, for a total transaction of $5,038,428.31. Following the transaction, the director owned 22,092,068 shares of the company’s stock, valued at approximately $13,034,320.12. This trade represents a 63.01% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Oncobiologics Stock Up 15.5%

NASDAQ:OTLK opened at $0.84 on Tuesday. Oncobiologics, Inc. has a 12 month low of $0.16 and a 12 month high of $3.39. The firm has a market cap of $101.88 million, a price-to-earnings ratio of -0.72 and a beta of 0.94. The company’s 50 day moving average is $0.30 and its 200-day moving average is $0.77.

Oncobiologics (NASDAQ:OTLK) last released its quarterly earnings results on Friday, May 15th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). The firm had revenue of $0.13 million for the quarter, compared to the consensus estimate of $4.39 million. Research analysts predict that Oncobiologics, Inc. will post -0.51 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in OTLK. Russell Investments Group Ltd. lifted its position 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 buying an additional 21,941 shares in the last quarter. AQR Capital Management LLC lifted its position 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 buying an additional 25,351 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position 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 buying an additional 44,063 shares in the last quarter. Institutional investors and hedge funds own 11.20% of the company’s stock.

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.