Oppenheimer Downgrades Opthea (NASDAQ:OPT) to Market Perform

Opthea (NASDAQ:OPT) was downgraded by Oppenheimer from an “outperform” rating to a “market perform” rating in a research note issued to investors on Monday,Briefing.com Automated Import reports.

A number of other equities analysts have also recently issued reports on OPT. Canaccord Genuity Group upgraded shares of Opthea to a “strong-buy” rating in a research note on Tuesday, December 17th. HC Wainwright restated a “buy” rating and set a $12.00 price target on shares of Opthea in a research note on Friday, February 28th.

Opthea Stock Performance

Shares of NASDAQ:OPT remained flat at $3.41 during trading on Monday. Opthea has a 52 week low of $1.79 and a 52 week high of $6.30. The company has a 50-day simple moving average of $4.44 and a 200-day simple moving average of $4.07.

Institutional Investors Weigh In On Opthea

Large investors have recently made changes to their positions in the company. Citadel Advisors LLC acquired a new position in Opthea in the fourth quarter valued at about $79,000. Hsbc Holdings PLC acquired a new position in shares of Opthea in the 4th quarter worth approximately $556,000. OLD Mission Capital LLC bought a new stake in Opthea during the 4th quarter worth approximately $42,000. ABC Arbitrage SA acquired a new stake in Opthea during the 4th quarter valued at $40,000. Finally, Twin Lakes Capital Management LLC acquired a new position in Opthea in the third quarter worth $81,000. Institutional investors own 55.95% of the company’s stock.

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.