Opthea (NASDAQ:OPT) Sets New 12-Month High – Here’s What Happened

Opthea Limited (NASDAQ:OPT)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $5.51 and last traded at $5.49, with a volume of 19965 shares trading hands. The stock had previously closed at $5.07.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on OPT. HC Wainwright reissued a “buy” rating and set a $12.00 target price on shares of Opthea in a report on Wednesday. Canaccord Genuity Group upgraded shares of Opthea to a “strong-buy” rating in a research note on Tuesday, December 17th.

Opthea Stock Up 1.3 %

The business has a fifty day simple moving average of $3.83 and a 200 day simple moving average of $3.57.

Institutional Investors Weigh In On Opthea

Several institutional investors have recently made changes to their positions in OPT. ABC Arbitrage SA acquired a new position in shares of Opthea in the 4th quarter valued at approximately $40,000. Twin Lakes Capital Management LLC bought a new position in Opthea in the third quarter valued at approximately $81,000. Finally, Jane Street Group LLC acquired a new position in Opthea during the third quarter valued at approximately $114,000. 55.95% of the stock is currently owned by institutional investors.

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.