Opthea's (OPT) Buy Rating Reiterated at HC Wainwright

Opthea (NASDAQ:OPT - Get Free Report)'s stock had its "buy" rating reaffirmed by equities researchers at HC Wainwright in a report issued on Wednesday,Benzinga reports. They currently have a $12.00 price target on the stock. HC Wainwright's target price indicates a potential upside of 115.83% from the stock's current price.

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

Opthea Trading Up 1.3 %

Shares of NASDAQ OPT traded up $0.07 during midday trading on Wednesday, hitting $5.56. The company's stock had a trading volume of 28,723 shares, compared to its average volume of 35,910. Opthea has a 12-month low of $1.79 and a 12-month high of $5.90. The business's 50 day moving average is $3.83 and its two-hundred day moving average is $3.58.

Hedge Funds Weigh In On Opthea

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