Opthea Limited (NASDAQ:OPT - Get Free Report) reached a new 52-week high on Thursday . The stock traded as high as $5.51 and last traded at $5.49, with a volume of 19965 shares traded. The stock had previously closed at $5.07.
Analysts Set New Price Targets
A number of brokerages recently commented on OPT. Canaccord Genuity Group upgraded Opthea to a "strong-buy" rating in a report on Tuesday, December 17th. HC Wainwright reaffirmed a "buy" rating and issued a $12.00 target price on shares of Opthea in a research report on Wednesday, January 29th.
Get Our Latest Research Report on OPT
Opthea Trading Down 7.6 %
The business has a fifty day simple moving average of $3.87 and a two-hundred day simple moving average of $3.61.
Hedge Funds Weigh In On Opthea
Several institutional investors and hedge funds have recently added to or reduced their stakes in OPT. Jane Street Group LLC bought a new stake in Opthea in the third quarter worth $114,000. Twin Lakes Capital Management LLC purchased a new position in shares of Opthea in the 3rd quarter worth about $81,000. Finally, ABC Arbitrage SA bought a new position in Opthea in the 4th quarter worth about $40,000. Hedge funds and other institutional investors own 55.95% of the company's stock.
About Opthea
(
Get Free Report)
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.
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