Opthea (NASDAQ:OPT) Receives Buy Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Opthea (NASDAQ:OPT) in a report released on Friday morning,Benzinga reports. They currently have a $12.00 target price on the stock.

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

Opthea Stock Performance

Shares of OPT opened at $4.48 on Friday. Opthea has a fifty-two week low of $1.79 and a fifty-two week high of $6.30. The firm has a 50 day moving average price of $4.51 and a 200-day moving average price of $3.98.

Institutional Investors Weigh In On Opthea

Institutional investors have recently added to or reduced their stakes in the company. ABC Arbitrage SA purchased a new stake in Opthea during the 4th quarter valued at $40,000. OLD Mission Capital LLC purchased a new stake in Opthea during the 4th quarter valued at $42,000. Twin Lakes Capital Management LLC purchased a new stake in Opthea during the 3rd quarter valued at $81,000. Citadel Advisors LLC purchased a new stake in Opthea during the 4th quarter valued at $79,000. Finally, Jane Street Group LLC bought a new position in Opthea in the 3rd quarter worth $114,000. Hedge funds and other 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.