HC Wainwright Reaffirms Buy Rating for Opthea (NASDAQ:OPT)

HC Wainwright reaffirmed their buy rating on shares of Opthea (NASDAQ:OPT) in a research note published on Friday morning,Benzinga reports. The firm currently has a $12.00 price objective on the stock.

Separately, Canaccord Genuity Group upgraded shares of Opthea to a “strong-buy” rating in a research note on Tuesday, December 17th.

Opthea Stock Performance

Shares of NASDAQ OPT opened at $4.48 on Friday. Opthea has a 12 month low of $1.79 and a 12 month high of $6.30. The firm has a fifty day simple moving average of $4.51 and a two-hundred day simple moving average of $3.98.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. ABC Arbitrage SA bought a new position in shares of Opthea in the 4th quarter worth about $40,000. OLD Mission Capital LLC bought a new position in shares of Opthea in the 4th quarter worth about $42,000. Twin Lakes Capital Management LLC bought a new position in shares of Opthea in the 3rd quarter worth about $81,000. Citadel Advisors LLC bought a new position in shares of Opthea in the 4th quarter worth about $79,000. Finally, Jane Street Group LLC bought a new position in shares of Opthea in the 3rd quarter worth about $114,000. 55.95% of the stock is currently owned by institutional investors.

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.