Opthea Limited (NASDAQ:OPT - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $5.49, but opened at $5.68. Opthea shares last traded at $5.65, with a volume of 6,031 shares.
Wall Street Analyst Weigh In
OPT has been the topic of a number of research analyst reports. 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 target price on shares of Opthea in a report on Wednesday, January 29th.
Get Our Latest Report on OPT
Opthea Trading Up 3.6 %
The company has a 50-day moving average price of $3.87 and a 200-day moving average price of $3.61.
Institutional Investors Weigh In On Opthea
Hedge funds have recently made changes to their positions in the business. Jane Street Group LLC purchased a new stake in shares of Opthea in the 3rd quarter worth about $114,000. Twin Lakes Capital Management LLC acquired a new position in shares of Opthea in the third quarter valued at approximately $81,000. Finally, ABC Arbitrage SA purchased a new position in shares of Opthea during the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 55.95% of the company's stock.
Opthea Company Profile
(
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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