Opthea Limited (NASDAQ:OPT) Short Interest Update

Opthea Limited (NASDAQ:OPT - Get Free Report) was the target of a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 141,500 shares, a growth of 113.1% from the December 31st total of 66,400 shares. Based on an average daily volume of 27,200 shares, the days-to-cover ratio is currently 5.2 days.

Opthea Stock Up 3.6 %

OPT stock traded up $0.19 during midday trading on Tuesday, reaching $5.33. The company had a trading volume of 5,289 shares, compared to its average volume of 35,690. Opthea has a 1-year low of $1.79 and a 1-year high of $5.90. The stock has a 50 day moving average price of $3.87 and a 200-day moving average price of $3.61.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on OPT shares. Canaccord Genuity Group raised Opthea to a "strong-buy" rating in a report on Tuesday, December 17th. HC Wainwright reissued a "buy" rating and issued a $12.00 price objective on shares of Opthea in a report on Wednesday, January 29th.

Hedge Funds Weigh In On Opthea

Hedge funds and other institutional investors have recently made changes to their positions in the company. Jane Street Group LLC bought a new position in Opthea in the third quarter valued at approximately $114,000. Twin Lakes Capital Management LLC bought a new position in shares of Opthea in the 3rd quarter valued at $81,000. Finally, ABC Arbitrage SA acquired a new position in shares of Opthea during the 4th quarter worth $40,000. 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.