Opthea (NASDAQ:OPT) Trading Up 1.6% – Here’s What Happened

Opthea Limited (NASDAQ:OPT) shares traded up 1.6% on Tuesday . The company traded as high as $4.00 and last traded at $3.93. 20,625 shares changed hands during mid-day trading, a decline of 13% from the average session volume of 23,805 shares. The stock had previously closed at $3.87.

Wall Street Analyst Weigh In

A number of analysts have commented on OPT shares. Canaccord Genuity Group raised shares of Opthea to a “strong-buy” rating in a research note on Tuesday, December 17th. HC Wainwright cut their price target on shares of Opthea from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, September 3rd.

Opthea Stock Up 1.6 %

The stock has a fifty day moving average price of $3.71 and a 200-day moving average price of $3.22.

Hedge Funds Weigh In On Opthea

An institutional investor recently bought a new position in Opthea stock. Jane Street Group LLC purchased a new position in Opthea Limited (NASDAQ:OPT) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 26,632 shares of the company’s stock, valued at approximately $114,000. 55.95% of the stock is currently 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.