Outlook Therapeutics, Inc. (NASDAQ: OTLK) is flying early on in the market this morning. However, if you’re digging for news, good luck! There’s not much out there. The company hasn’t issued a press release or offered up an SEC filing today. Nonetheless, there’s a good reason for the gains. Today, we’ll talk about:
- Why OTLK is climbing;
- what we’re seeing from the stock; and
- what we’ll be watching for ahead.
Here’s Why OTLK Is Climbing
As mentioned above, Outlook Therapeutics is having an incredibly strong start to the trading session this morning, but the company hasn’t issued any news. So, what’s the deal?
The gains seem to be correlated with quite a bit of insider activity that we’ve seen on the stock as of late. Most recently, the company’s CFO, Lawrence Kenyon, purchased 25,000 shares at a price of $0.90 per share.
Recently, Kurt Hilzinger, director at OTLK has been quite active as well. In fact, from the 21st of December to the 4th of February, he made 11 buy transactions, snapping up nearly 150,000 shares through the period.
We’ve also seen some activity out of the CEO of the company, with a purchase of 8,000 shares in January and another director with 15,000 shares purchased in December.
This is key information. After all, as regular investors, we are basically making moves on old news. However, insiders know what’s happening when it’s happening. So, if they’re dropping their own cash into the bucket, this shows that they are confident in the growth and the moves that they are making within the company. So, it’s not surprising that the insider activity seems to be leading to a run in value in OTLK today.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news leads to moves. When it comes to Outlook Therapeutics, the news hasn’t yet made the mainstream. However, those following are seeing insider activity and the excitement is building. So, it’s not surprising to see that the excitement is leading to gains in the market this morning. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:56), OTLK is trading at $1.12 per share after a gain of $0.20 per share or 21.52% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on OTLK. In particular, we’re interested in seeing if all of the insider buying that we’ve seen is followed by catalystic news. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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