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Opthea (NASDAQ:OPT) Stock Price Up 4.2% - Still a Buy?

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Shares of Opthea Limited (NASDAQ:OPT - Get Free Report) shot up 4.2% during mid-day trading on Monday . The stock traded as high as $4.78 and last traded at $4.67. 7,053 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 24,096 shares. The stock had previously closed at $4.48.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in 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 set a $12.00 target price on shares of Opthea in a research note on Friday, February 28th.

Get Our Latest Stock Report on OPT

Opthea Stock Performance

The stock's 50-day moving average is $4.54 and its 200-day moving average is $4.02.

Hedge Funds Weigh In On Opthea

Several institutional investors have recently made changes to their positions in OPT. ABC Arbitrage SA bought a new stake in Opthea in the 4th quarter valued at about $40,000. OLD Mission Capital LLC bought a new stake in shares of Opthea during the fourth quarter valued at approximately $42,000. Twin Lakes Capital Management LLC acquired a new position in shares of Opthea during the third quarter worth approximately $81,000. Citadel Advisors LLC bought a new position in shares of Opthea in the 4th quarter worth $79,000. Finally, Jane Street Group LLC bought a new position in shares of Opthea in the 3rd quarter worth $114,000. 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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