Opthea (NASDAQ:OPT) Shares Gap Up – Still a Buy?

Opthea Limited (NASDAQ:OPTGet Free Report) gapped up before the market opened on Friday . The stock had previously closed at $5.49, but opened at $5.68. Opthea shares last traded at $5.65, with a volume of 6,031 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on OPT shares. HC Wainwright reissued a “buy” rating and set a $12.00 target price on shares of Opthea in a research report on Wednesday. Canaccord Genuity Group raised Opthea to a “strong-buy” rating in a research report on Tuesday, December 17th.

Get Our Latest Stock Report on Opthea

Opthea Stock Performance

The firm has a 50-day simple moving average of $3.78 and a 200 day simple moving average of $3.54.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. ABC Arbitrage SA purchased a new position in shares of Opthea in the 4th quarter valued at approximately $40,000. Twin Lakes Capital Management LLC purchased a new position in shares of Opthea in the 3rd quarter valued at approximately $81,000. Finally, Jane Street Group LLC purchased a new stake in shares of Opthea in the third quarter valued at approximately $114,000. 55.95% of the stock is currently owned by hedge funds and other institutional investors.

About Opthea

(Get Free Report)

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.

Further Reading

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