Opthea’s (OPT) “Underperform” Rating Reiterated at Jefferies Financial Group

Jefferies Financial Group reiterated their underperform rating on shares of Opthea (NASDAQ:OPT) in a research note issued to investors on Tuesday morning, Marketbeat Ratings reports. They currently have a $1.00 target price on the stock, down from their prior target price of $8.00.

A number of other equities analysts also recently issued reports on OPT. HC Wainwright reiterated a “buy” rating and set a $12.00 price target on shares of Opthea in a research report on Friday, February 28th. Oppenheimer cut shares of Opthea from an “outperform” rating to a “market perform” rating in a research note on Monday. Finally, Canaccord Genuity Group upgraded shares of Opthea to a “strong-buy” rating in a research report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $1.33.

Opthea Stock Performance

OPT stock opened at $3.41 on Tuesday. The firm’s fifty day moving average is $4.41 and its 200 day moving average is $4.06. Opthea has a one year low of $1.79 and a one year high of $6.30.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of OPT. Jane Street Group LLC purchased a new position in Opthea during the third quarter worth approximately $114,000. ABC Arbitrage SA acquired a new position in shares of Opthea during the 4th quarter valued at about $40,000. Citadel Advisors LLC purchased a new stake in shares of Opthea in the fourth quarter valued at about $79,000. Hsbc Holdings PLC purchased a new stake in shares of Opthea in the fourth quarter valued at about $556,000. Finally, OLD Mission Capital LLC acquired a new stake in Opthea during the fourth quarter worth about $42,000. 55.95% of the stock is owned by hedge funds and other institutional investors.

About Opthea

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.