Opthea (NASDAQ:OPT) Stock Price Down 2.4% – Should You Sell?

Opthea Limited (NASDAQ:OPT)’s stock price traded down 2.4% during mid-day trading on Wednesday . The company traded as low as $3.69 and last traded at $3.73. 2,618 shares changed hands during trading, a decline of 88% from the average session volume of 21,319 shares. The stock had previously closed at $3.82.

Analyst Ratings Changes

Separately, Canaccord Genuity Group upgraded Opthea to a “strong-buy” rating in a research note on Tuesday, December 17th.

Opthea Stock Up 4.2 %

The firm has a 50 day simple moving average of $3.57 and a two-hundred day simple moving average of $3.35.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Opthea stock. Twin Lakes Capital Management LLC bought a new stake in Opthea Limited (NASDAQ:OPT) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 19,806 shares of the company’s stock, valued at approximately $81,000. Institutional investors own 55.95% of the company’s stock.

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.