HC Wainwright Reiterates Buy Rating for Opthea (NASDAQ:OPT)

HC Wainwright reissued their buy rating on shares of Opthea (NASDAQ:OPT - Free Report) in a research report sent to investors on Friday morning,Benzinga reports. HC Wainwright currently has a $12.00 price target on the stock.

Separately, Canaccord Genuity Group upgraded Opthea to a "strong-buy" rating in a report on Tuesday, December 17th.

Opthea Trading Down 30.5 %

Shares of NASDAQ OPT traded down $1.56 during mid-day trading on Friday, reaching $3.55. The company had a trading volume of 138,770 shares, compared to its average volume of 25,026. Opthea has a twelve month low of $1.79 and a twelve month high of $6.30. The stock's 50 day moving average is $4.54 and its 200-day moving average is $4.02.

Institutional Investors Weigh In On Opthea

Several institutional investors and hedge funds have recently modified their holdings of OPT. Jane Street Group LLC bought a new position in Opthea during the third quarter valued at about $114,000. Twin Lakes Capital Management LLC acquired a new position in shares of Opthea during the 3rd quarter valued at about $81,000. ABC Arbitrage SA bought a new position in shares of Opthea in the 4th quarter valued at approximately $40,000. OLD Mission Capital LLC bought a new stake in Opthea during the fourth quarter worth approximately $42,000. Finally, Hsbc Holdings PLC acquired a new position in Opthea during the fourth quarter valued at approximately $556,000. Institutional investors and hedge funds 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.