Opthea (NASDAQ:OPT) Trading 7.2% Higher – What’s Next?

Opthea Limited Unsponsored ADR (NASDAQ:OPT)’s share price rose 7.2% during mid-day trading on Monday . The stock traded as high as $3.48 and last traded at $3.41. Approximately 3,000 shares changed hands during mid-day trading, The stock had previously closed at $3.18.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Opthea in a research note on Monday, November 17th. Four investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Opthea has a consensus rating of “Reduce” and a consensus target price of $1.33.

Opthea Price Performance

The company’s 50-day moving average price is $3.41 and its two-hundred day moving average price is $3.41.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. OLD Mission Capital LLC boosted its stake in Opthea by 78.7% during the 1st quarter. OLD Mission Capital LLC now owns 19,167 shares of the company’s stock valued at $65,000 after purchasing an additional 8,439 shares during the last quarter. EP Wealth Advisors LLC purchased a new stake in Opthea during the first quarter worth about $34,000. Finally, Twin Lakes Capital Management LLC grew its holdings in Opthea by 67.4% during the first quarter. Twin Lakes Capital Management LLC now owns 33,156 shares of the company’s stock valued at $113,000 after purchasing an additional 13,350 shares during the period. Institutional investors 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.