Opthea (NASDAQ:OPT) Shares Gap Down – Time to Sell?

Opthea Limited (NASDAQ:OPT)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $5.21, but opened at $5.06. Opthea shares last traded at $5.21, with a volume of 24,990 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on OPT shares. HC Wainwright reissued a “buy” rating and issued a $12.00 price target on shares of Opthea in a research note on Wednesday, January 29th. Canaccord Genuity Group raised shares of Opthea to a “strong-buy” rating in a research note on Tuesday, December 17th.

Opthea Stock Down 3.3 %

The stock’s 50 day simple moving average is $4.27 and its 200 day simple moving average is $3.85.

Institutional Investors Weigh In On Opthea

A number of institutional investors have recently made changes to their positions in the business. Citadel Advisors LLC purchased a new stake in shares of Opthea in the 4th quarter valued at $79,000. Hsbc Holdings PLC purchased a new stake in shares of Opthea in the 4th quarter valued at $556,000. OLD Mission Capital LLC purchased a new stake in shares of Opthea in the 4th quarter valued at $42,000. ABC Arbitrage SA purchased a new stake in Opthea during the 4th quarter valued at $40,000. Finally, Twin Lakes Capital Management LLC purchased a new stake in Opthea during the 3rd quarter valued at $81,000. Hedge funds and other institutional investors own 55.95% of the company’s stock.

Opthea Company Profile

Opthea Limited, a clinical stage biopharmaceutical company, engages in the development and commercialization of therapies primarily for eye disease in Australia. The company's development activities are based on the intellectual property portfolio covering Vascular Endothelial Growth Factors (VEGF) VEGF-C, VEGF-D, and VEGF Receptor-3 for the treatment of diseases associated with blood and lymphatic vessel growth, as well as vascular leakage.