Opthea (NASDAQ:OPT) Trading 3.6% Higher – Here’s What Happened

Shares of Opthea Limited (NASDAQ:OPT) were up 3.6% during trading on Thursday . The company traded as high as $3.16 and last traded at $3.29. Approximately 1,708 shares traded hands during trading, a decline of 93% from the average daily volume of 25,653 shares. The stock had previously closed at $3.17.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. HC Wainwright reissued a “buy” rating and issued a $12.00 target price on shares of Opthea in a research report on Friday, February 28th. Canaccord Genuity Group upgraded shares of Opthea to a “strong-buy” rating in a research report on Tuesday, December 17th.

Opthea Trading Down 0.3 %

The firm has a 50-day moving average of $4.49 and a two-hundred day moving average of $4.04.

Hedge Funds Weigh In On Opthea

Large investors have recently made changes to their positions in the business. Hsbc Holdings PLC acquired a new stake in shares of Opthea during the 4th quarter valued at about $556,000. Jane Street Group LLC acquired a new position in shares of Opthea during the 3rd quarter worth $114,000. Citadel Advisors LLC bought a new position in shares of Opthea during the 4th quarter valued at $79,000. Twin Lakes Capital Management LLC bought a new stake in Opthea in the third quarter worth $81,000. Finally, OLD Mission Capital LLC bought a new position in Opthea during the fourth quarter valued at about $42,000. Institutional investors and hedge funds 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.