Opthea (NASDAQ:OPT) Downgraded to “Market Perform” Rating by Oppenheimer

Opthea (NASDAQ:OPT) was downgraded by equities researchers at Oppenheimer from an “outperform” rating to a “market perform” rating in a research note issued on Monday,Briefing.com Automated Import reports.

Other equities analysts have also recently issued research reports about the company. Canaccord Genuity Group upgraded Opthea to a “strong-buy” rating in a report on Tuesday, December 17th. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 target price on shares of Opthea in a research note on Friday, February 28th.

Opthea Stock Performance

OPT stock remained flat at $3.41 during trading on Monday. The stock’s 50 day moving average is $4.44 and its 200 day moving average is $4.07. Opthea has a 52 week low of $1.79 and a 52 week high of $6.30.

Institutional Investors Weigh In On Opthea

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

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.