Oncobiologics (NASDAQ:OTLK) Director Buys $100,167.90 in Stock

Oncobiologics, Inc. (NASDAQ:OTLK) Director Faisal Ghiath Sukhtian purchased 95,398 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The stock was acquired at an average price of $1.05 per share, with a total value of $100,167.90. Following the purchase, the director owned 220,972 shares in the company, valued at $232,020.60. This represents a 75.97% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Oncobiologics Trading Down 6.1%

NASDAQ OTLK opened at $0.98 on Friday. The stock has a market capitalization of $145.11 million, a price-to-earnings ratio of -0.83 and a beta of 0.77. Oncobiologics, Inc. has a twelve month low of $0.16 and a twelve month high of $3.39. The stock has a 50-day moving average of $1.25 and a 200 day moving average of $0.67.

Oncobiologics (NASDAQ:OTLK) last issued its quarterly 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 during the quarter, compared to the consensus estimate of $4.39 million. Equities analysts predict that Oncobiologics, Inc. will post -0.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Oncobiologics

A number of hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its position 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 valued at $39,000 after acquiring an additional 21,941 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Oncobiologics by 42.7% during 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 in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Oncobiologics by 74.1% during 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 in the last quarter. Institutional investors and hedge funds own 11.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. BTIG Research raised shares of Oncobiologics from a “neutral” rating to a “buy” rating and set a $4.00 price target on the stock in a research note on Monday, July 27th. HC Wainwright boosted their price target on shares of Oncobiologics to $1.60 and gave the stock a “neutral” rating in a report on Monday, July 27th. Ascendiant Capital Markets upped their price objective on shares of Oncobiologics from $6.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, June 11th. Wall Street Zen raised shares of Oncobiologics from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Weiss Ratings lowered shares of Oncobiologics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Oncobiologics has an average rating of “Hold” and a consensus target price of $4.65.

About Oncobiologics

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.