Opthea (NASDAQ:OPT) Trading Down 4.1% - Time to Sell?

Opthea Limited (NASDAQ:OPT - Get Free Report)'s share price dropped 4.1% during mid-day trading on Monday . The stock traded as low as $5.38 and last traded at $5.50. Approximately 14,610 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 36,359 shares. The stock had previously closed at $5.73.

Analyst Upgrades and Downgrades

OPT has been the subject of several research analyst reports. HC Wainwright restated a "buy" rating and issued a $12.00 target price on shares of Opthea in a report on Wednesday, January 29th. Canaccord Genuity Group upgraded shares of Opthea to a "strong-buy" rating in a report on Tuesday, December 17th.

Opthea Price Performance

The firm's fifty day moving average price is $4.15 and its 200-day moving average price is $3.76.

Institutional Trading of Opthea

Institutional investors and hedge funds have recently bought and sold shares of the business. ABC Arbitrage SA purchased a new position in Opthea during the 4th quarter worth $40,000. OLD Mission Capital LLC purchased a new position in Opthea during the 4th quarter worth $42,000. Twin Lakes Capital Management LLC purchased a new position in Opthea during the 3rd quarter worth $81,000. Finally, Jane Street Group LLC purchased a new position in Opthea during the 3rd quarter worth $114,000. Hedge funds and other 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.