OUTLOOK THERAPEUTICS INC OTLK
COM · Common Stock · CUSIP 69012T305
- SectorHealth care
- IndustryBiological Products, (No Diagnostic Substances)
- HeadquartersIselin, NJ
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Shares outstanding: 243.4m as of 2026-08-14, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $1.59. Options: 7 managers hold calls ($1.9m notional), 5 hold puts ($925.5k).
Trends to Q2 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q1 2023 | 1 |
| Q2 2023 | 1 |
| Q3 2023 | 1 |
| Q4 2023 | 0 |
| Q1 2024 | 54 |
| Q2 2024 | 64 |
| Q3 2024 | 66 |
| Q4 2024 | 62 |
| Q1 2025 | 64 |
| Q2 2025 | 67 |
| Q3 2025 | 54 |
| Q4 2025 | 53 |
| Q1 2026 | 54 |
| Q2 2026 | 69 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2024 | 35 | 16 |
| Q4 2024 | 35 | 30 |
| Q1 2025 | 36 | 23 |
| Q2 2025 | 35 | 35 |
| Q3 2025 | 20 | 44 |
| Q4 2025 | 26 | 16 |
| Q1 2026 | 28 | 20 |
| Q2 2026 | 47 | 20 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2025 | $351.2k | $88.7k | 0.25 |
| Q4 2025 | $1.3m | $3.9m | 3.08 |
| Q1 2026 | $78.6k | $33.4k | 0.42 |
| Q2 2026 | $1.9m | $925.5k | 0.49 |
Biggest buyers
| PERCEPTIVE ADVISORS LLC | New | +3.1m |
| VANGUARD CAPITAL MANAGEMENT LLC | Added | +2.4m |
| MARSHALL WACE, LLP | New | +2.0m |
| JANE STREET GROUP, LLC | New | +1.4m |
| BlackRock, Inc. | Added | +1.2m |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | +834.1k |
| HRT FINANCIAL LP | Added | +717.1k |
| GEODE CAPITAL MANAGEMENT, LLC | Added | +642.3k |
| VANGUARD FIDUCIARY TRUST CO | Added | +485.1k |
| CANTOR FITZGERALD, L. P. | New | +450.0k |
Biggest sellers
| ARMISTICE CAPITAL, LLC | Sold out | -4.2m |
| COMMONWEALTH EQUITY SERVICES, LLC | Sold out | -470.0k |
| Warberg Asset Management LLC | Sold out | -275.0k |
| RENAISSANCE TECHNOLOGIES LLC | Sold out | -255.2k |
| NINE MASTS CAPITAL Ltd | Sold out | -232.5k |
| Connective Capital Management, LLC | Sold out | -200.0k |
| Virtu Financial LLC | Sold out | -112.8k |
| XTX Topco Ltd | Sold out | -53.0k |
| GILPIN WEALTH MANAGEMENT, LLC | Reduced | -45.2k |
| Corient Private Wealth LP | Sold out | -30.1k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | New | $862.1k542.2k shares |
| JANE STREET GROUP, LLC | Added | $277.1k174.3k shares |
| CITADEL ADVISORS LLC | Added | $265.7k167.1k shares |
| SIMPLEX TRADING, LLC | Added | $206.5k129.9k shares |
| GILPIN WEALTH MANAGEMENT, LLC | Reduced | $159.0k100.0k shares |
| GROUP ONE TRADING LLC | Reduced | $105.7k66.5k shares |
| Belvedere Trading LLC | New | $8.0k5.0k shares |
Biggest puts
| CITADEL ADVISORS LLC | Added | $360.3k226.6k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $284.9k179.2k shares |
| SIMPLEX TRADING, LLC | Added | $164.6k103.5k shares |
| JANE STREET GROUP, LLC | Added | $91.9k57.8k shares |
| GROUP ONE TRADING LLC | Added | $23.9k15.0k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
GMS Ventures & Investments
13D · may seek influence
-6.5 pts · filed 2026-08-14
Stated purposeItem 4 of the Schedule 13D is hereby amended to add the following after the last paragraph: On August 12, 2026, the Issuer entered into the sale of an aggregate of 55,555,556 Shares and accompanying Warrants to acquire up to an aggregate of 55,555,556 Shares in a registered underwritten public offering (the "August 2026 Offering"). GMS Ventures purchased 2,525,252 Shares and accompanying Warrants to purchase 2,525,252 Shares in the Offering, at a combined purchase price per Share and accompanying Warrant of $0.99, for an aggregate purchase price of approximately $2.5 million. Each Warrant will have an initial exercise price per share of $1.10, subject to certain customary adjustments for recapitalizations, stock splits and similar actions. The Warrants will be exercisable immediately and … Full filing |
16.4% |
| CVI Investments, Inc. 13G · passive investor new · filed 2026-08-19 | 9.9% |
| Empery Asset Management, LP 13G · institution +3.7 pts · filed 2026-10-13 | 8.7% |
| TANG CAPITAL PARTNERS LP 13G · passive investor filed 2025-02-14 | 6.4% |
Fell to 5% or below in the last year: INTRACOASTAL CAPITAL, LLC (5.0%, 2026-04-24), SPHERA FUNDS MANAGEMENT LTD. (4.7%, 2026-02-05)
Insider purchases and sales since 1 Apr 2026
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q4 2024 | 0 | — | 0 | — | — |
| Q1 2025 | 0 | — | 0 | — | — |
| Q2 2025 | 0 | — | 0 | — | — |
| Q3 2025 | 0 | — | 0 | — | — |
| Q4 2025 | 0 | — | 0 | — | — |
| Q1 2026 | 0 | — | 0 | — | — |
| Q2 2026 | 5 | $5.3m | 0 | — | — |
| Q3 2026 | 4 | $2.6m | 0 | — | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2026-08-14 | Jahr Robert Charles Chief Executive Officer, director | Bought | —151.5k shares |
| 2026-08-14 | KENYON LAWRENCE A Chief Financial Officer, director | Bought | —101.0k shares |
| 2026-08-12 | Sukhtian Ghiath M. +1 Director · See footnote | Bought | $2.5m2.5m shares |
| 2026-07-29 | Sukhtian Faisal Ghiath Director | Bought | $100.2k95.4k shares |
| 2026-06-02 | Haddadin Yezan Munther Director | Bought | $24.1k29.0k shares |
| 2026-05-28 | Sukhtian Ghiath M. +1 Director · See footnote | Bought | $5.0m8.5m shares |
| 2026-05-27 | Sukhtian Faisal Ghiath Director | Bought | $50.1k122.2k shares |
| 2026-05-26 | HILZINGER KURT J Director | Bought | $176.0k400.0k shares |
| 2026-05-26 | Haddadin Yezan Munther Director | Bought | $15.0k34.0k shares |
| 2026-05-26 | THURMAN RANDY H Director | Bought | $2.1k5.0k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q2 2026
| Manager | Shares | Change |
|---|---|---|
| VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 4.4m $7.0m | Added +2.4m |
| PERCEPTIVE ADVISORS LLC 0.08% of their portfolio | 3.1m $5.0m | New |
| MARSHALL WACE, LLP 0.00% of their portfolio | 2.0m $3.2m | New |
| BlackRock, Inc. 0.00% of their portfolio | 1.7m $2.7m | Added +1.2m |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 1.4m $2.3m | New |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 1.2m $2.0m | Added +642.3k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 968.2k $1.5m | Added +834.1k |
| HRT FINANCIAL LP 0.00% of their portfolio | 784.9k $1.2m | Added +717.1k |
| VANGUARD FIDUCIARY TRUST CO 0.00% of their portfolio | 661.7k $1.1m | Added +485.1k |
| GILPIN WEALTH MANAGEMENT, LLC 0.61% of their portfolio | 555.0k $882.5k | Reduced -45.2k |
| STATE STREET CORP 0.00% of their portfolio | 539.8k $858.3k | Added +376.7k |
| CANTOR FITZGERALD, L. P. 0.01% of their portfolio | 450.0k $715.5k | New |
| Sanctuary Advisors, LLC 0.00% of their portfolio | 344.5k $547.8k | New |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 332.1k $528.0k | Added +305.0k |
| GROUP ONE TRADING LLC 0.01% of their portfolio | 246.4k $391.8k | Added +132.7k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 237.6k $377.7k | Added +170.2k |
| SIMPLEX TRADING, LLC 0.01% of their portfolio | 205.0k $326.0k | Added +72.3k |
| LPL Financial LLC 0.00% of their portfolio | 184.9k $294.1k | Added +151.3k |
| UBS Group AG 0.00% of their portfolio | 152.2k $242.0k | Added +19.1k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 130.7k $207.8k | New |
| Wealth Management Partners, LLC 0.04% of their portfolio | 118.2k $187.9k | New |
| Jefferies Financial Group Inc. 0.00% of their portfolio | 62.5k $99.4k | New |
| MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio | 57.8k $92.0k | New |
| Tower Research Capital LLC (TRC) 0.00% of their portfolio | 57.4k $91.3k | Added +42.6k |
| Royal Fund Management, LLC 0.01% of their portfolio | 47.2k $75.0k | New |
| SCOTIA CAPITAL INC. 0.00% of their portfolio | 46.3k $73.6k | New |
| Vanguard Global Advisers, LLC 0.00% of their portfolio | 41.1k $65.4k | Added +34.2k |
| Belvedere Trading LLC 0.01% of their portfolio | 40.9k $65.0k | New |
| Steward Partners Investment Advisory, LLC 0.00% of their portfolio | 29.5k $46.9k | Added +29.5k |
| Christensen, King & Associates Investment Services, Inc. 0.02% of their portfolio | 28.3k $45.0k | Unchanged |
| PNC Financial Services Group, Inc. 0.00% of their portfolio | 25.0k $39.8k | Unchanged |
| Vanguard Personalized Indexing Management, LLC 0.00% of their portfolio | 24.1k $38.3k | Reduced -7.4k |
| Flower City Capital 0.01% of their portfolio | 20.0k $31.8k | Unchanged |
| Bank of New York Mellon Corp 0.00% of their portfolio | 18.7k $29.7k | New |
| Signet Private Wealth LLC 0.02% of their portfolio | 17.6k $27.9k | New |
| SG Americas Securities, LLC 0.00% of their portfolio | 17.3k $27.0k | New |
| MORGAN STANLEY 0.00% of their portfolio | 17.0k $27.0k | Added +13.2k |
| NewEdge Advisors, LLC 0.00% of their portfolio | 16.7k $26.6k | New |
| ORRSTOWN FINANCIAL SERVICES INC 0.00% of their portfolio | 15.0k $23.9k | New |
| TWO SIGMA SECURITIES, LLC 0.00% of their portfolio | 14.9k $23.6k | New |
| OPPENHEIMER & CO INC 0.00% of their portfolio | 14.0k $22.3k | Reduced -1.5k |
| HARBOUR INVESTMENTS, INC. 0.00% of their portfolio | 12.3k $19.6k | Unchanged |
| OSAIC HOLDINGS, INC. 0.00% of their portfolio | 11.5k $18.2k | Added +4.2k |
| Simplicity Wealth,LLC 0.00% of their portfolio | 11.3k $18.0k | New |
| Fifth Third Wealth Advisors LLC 0.00% of their portfolio | 10.0k $15.9k | New |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 8.0k $13.5k | Added +8.0k |
| Caitong International Asset Management Co., Ltd 0.00% of their portfolio | 7.3k $11.6k | New |
| Rockefeller Capital Management L.P. 0.00% of their portfolio | 6.2k $9.9k | New |
| Bullock Wealth Management Group 0.00% of their portfolio | 4.1k $6.0k | First filing |
| GoalVest Advisory LLC 0.00% of their portfolio | 3.0k $4.8k | New |
| JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio | 2.5k $4.3k | Unchanged |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio | 2.1k $3.4k | Reduced -171 |
| Global Retirement Partners, LLC 0.00% of their portfolio | 1.5k $2.4k | First filing |
| Fortitude Family Office, LLC 0.00% of their portfolio | 1.4k $2.3k | Reduced -1.1k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 1.4k $2.2k | Reduced -1.1k |
| Ancora Advisors LLC 0.00% of their portfolio | 1.1k $1.7k | Unchanged |
| Integrated Wealth Concepts LLC 0.00% of their portfolio | 1.0k $1.6k | New |
| CITIGROUP INC 0.00% of their portfolio | 765 $1.2k | New |
| EverSource Wealth Advisors, LLC 0.00% of their portfolio | 696 $1.1k | Unchanged |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 305 $485 | Unchanged |
| SBI Securities Co., Ltd. 0.00% of their portfolio | 222 $353 | Unchanged |
| ARMSTRONG ADVISORY GROUP, INC 0.00% of their portfolio | 179 $285 | Unchanged |
| Quarry LP 0.00% of their portfolio | 176 $280 | New |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 156 $0 | Added +71 |
| Larson Financial Group LLC 0.00% of their portfolio | 100 $159 | Unchanged |
| Prestige Wealth Management Group LLC 0.00% of their portfolio | 62 $99 | Unchanged |
| Federation des caisses Desjardins du Quebec 0.00% of their portfolio | 25 $40 | Reduced -1.3k |
| Bogart Wealth, LLC 0.00% of their portfolio | 5 $8 | Unchanged |
| FMR LLC 0.00% of their portfolio | 1 $2 | New |