Ghiath Sukhtian Buys 2,525,252 Shares of Oncobiologics (NASDAQ:OTLK) Stock

Oncobiologics, Inc. (NASDAQ:OTLK) Director Ghiath Sukhtian bought 2,525,252 shares of the company’s stock in a transaction dated Wednesday, August 12th. The stock was purchased at an average cost of $0.99 per share, for a total transaction of $2,499,999.48. Following the completion of the acquisition, the director owned 24,617,320 shares in the company, valued at $24,371,146.80. This trade represents a 11.43% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Oncobiologics Stock Performance

NASDAQ:OTLK traded down $0.13 during mid-day trading on Friday, hitting $0.76. The stock had a trading volume of 104,469,209 shares, compared to its average volume of 17,814,098. Oncobiologics, Inc. has a twelve month low of $0.16 and a twelve month high of $3.39. The stock has a market cap of $112.39 million, a price-to-earnings ratio of -0.65 and a beta of 0.82. The company’s 50 day simple moving average is $1.31 and its 200 day simple moving average is $0.70.

Oncobiologics (NASDAQ:OTLK) last announced its quarterly earnings results on Friday, August 14th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The business had revenue of $0.01 million during the quarter, compared to analysts’ expectations of $0.97 million. As a group, equities analysts forecast that Oncobiologics, Inc. will post -0.49 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Ascendiant Capital Markets boosted their price objective on shares of Oncobiologics from $6.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. BTIG Research reaffirmed a “buy” rating and issued a $4.00 target price on shares of Oncobiologics in a report on Friday. Wall Street Zen upgraded Oncobiologics from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Weiss Ratings raised Oncobiologics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday. Finally, HC Wainwright upped their price objective on Oncobiologics to $1.60 and gave the stock a “neutral” rating in a research report on Monday, July 27th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Oncobiologics has a consensus rating of “Hold” and an average price target of $4.65.

Institutional Investors Weigh In On Oncobiologics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC increased 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 purchasing an additional 25,351 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Oncobiologics by 74.1% in the first quarter. Goldman Sachs Group Inc. now owns 103,524 shares of the company’s stock valued at $126,000 after buying an additional 44,063 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in 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 buying an additional 21,941 shares in the last quarter. 11.20% of the stock is owned by institutional investors.

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.