Opthea (NASDAQ:OPT) Downgraded by HC Wainwright to Neutral

HC Wainwright lowered shares of Opthea (NASDAQ:OPT) from a buy rating to a neutral rating in a research report sent to investors on Tuesday, Marketbeat Ratings reports. They currently have $2.00 target price on the stock, down from their prior target price of $12.00.

Several other equities analysts have also commented on the stock. Leerink Partners lowered shares of Opthea from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $12.00 to $1.00 in a research report on Tuesday. Jefferies Financial Group reaffirmed an “underperform” rating and issued a $1.00 price target (down previously from $8.00) on shares of Opthea in a report on Tuesday. Oppenheimer lowered shares of Opthea from an “outperform” rating to a “market perform” rating in a report on Monday. Finally, Canaccord Genuity Group raised Opthea to a “strong-buy” rating in a research report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $1.33.

Opthea Trading Up 7.2 %

Opthea stock opened at $3.41 on Tuesday. The stock has a 50-day moving average of $4.42 and a two-hundred day moving average of $4.07. Opthea has a one year low of $1.79 and a one year high of $6.30.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Jane Street Group LLC purchased a new stake in Opthea in the third quarter valued at $114,000. Twin Lakes Capital Management LLC acquired a new position in shares of Opthea in the 3rd quarter valued at about $81,000. ABC Arbitrage SA acquired a new position in shares of Opthea in the 4th quarter valued at about $40,000. OLD Mission Capital LLC purchased a new stake in shares of Opthea in the fourth quarter worth about $42,000. Finally, Hsbc Holdings PLC acquired a new stake in Opthea during the fourth quarter worth about $556,000. Hedge funds and other institutional investors own 55.95% of the company’s stock.

About Opthea

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.