Opthea (NASDAQ:OPT) Trading Down 10.5% - Here's What Happened

Opthea Limited (NASDAQ:OPT - Get Free Report)'s share price traded down 10.5% during trading on Tuesday . The company traded as low as $4.41 and last traded at $4.58. 9,008 shares were traded during mid-day trading, a decline of 63% from the average session volume of 24,500 shares. The stock had previously closed at $5.11.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. HC Wainwright reiterated a "buy" rating and issued a $12.00 price target on shares of Opthea in a research note on Friday, February 28th. Canaccord Genuity Group upgraded Opthea to a "strong-buy" rating in a research note on Tuesday, December 17th.

Opthea Stock Down 0.3 %

The business has a 50 day simple moving average of $4.53 and a 200 day simple moving average of $4.04.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. ABC Arbitrage SA acquired a new position in shares of Opthea in the fourth quarter valued at about $40,000. OLD Mission Capital LLC acquired a new position in shares of Opthea in the fourth quarter valued at about $42,000. Citadel Advisors LLC acquired a new position in shares of Opthea in the fourth quarter valued at about $79,000. Twin Lakes Capital Management LLC acquired a new position in shares of Opthea in the third quarter valued at about $81,000. Finally, Jane Street Group LLC acquired a new position in shares of Opthea in the third quarter valued at about $114,000. 55.95% of the stock is owned by institutional investors and hedge funds.

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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.