Opthea (NASDAQ:OPT) Downgraded to "Market Perform" Rating by Oppenheimer

Oppenheimer cut shares of Opthea (NASDAQ:OPT - Free Report) from an outperform rating to a market perform rating in a research note issued to investors on Monday, Marketbeat.com reports.

Other equities analysts have also recently issued reports about the company. Canaccord Genuity Group upgraded Opthea to a "strong-buy" rating in a research report on Tuesday, December 17th. HC Wainwright reiterated a "buy" rating and issued a $12.00 price target on shares of Opthea in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $1.33.

Opthea Price Performance

Shares of Opthea stock remained flat at $3.41 on Monday. Opthea has a 12 month low of $1.79 and a 12 month high of $6.30. The stock's 50-day moving average is $4.41 and its 200 day moving average is $4.06.

Institutional Investors Weigh In On Opthea

Several large investors have recently modified their holdings of the stock. ABC Arbitrage SA acquired a new stake in shares of Opthea during the fourth quarter worth $40,000. OLD Mission Capital LLC purchased a new position in Opthea in the 4th quarter worth about $42,000. Twin Lakes Capital Management LLC acquired a new stake in Opthea during the 3rd quarter worth about $81,000. Citadel Advisors LLC purchased a new stake in Opthea during the fourth quarter valued at about $79,000. Finally, Jane Street Group LLC acquired a new position in shares of Opthea in the third quarter worth about $114,000. 55.95% of the stock is owned by institutional investors.

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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.