Opthea (NASDAQ:OPT) Downgraded to Hold Rating by Leerink Partnrs

Opthea (NASDAQ:OPT) was downgraded by stock analysts at Leerink Partnrs from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Other equities research analysts have also issued research reports about the stock. HC Wainwright lowered shares of Opthea from a “buy” rating to a “neutral” rating and cut their price target for the company from $12.00 to $2.00 in a report on Tuesday. Jefferies Financial Group reissued an “underperform” rating and set a $1.00 target price (down from $8.00) on shares of Opthea in a research note on Tuesday. Leerink Partners cut Opthea from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $12.00 to $1.00 in a research report on Tuesday. Oppenheimer lowered Opthea from an “outperform” rating to a “market perform” rating in a research report on Monday. Finally, Canaccord Genuity Group raised Opthea to a “strong-buy” rating in a research note on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $1.33.

Opthea Price Performance

Shares of OPT opened at $3.41 on Monday. The business’s 50-day moving average price is $4.42 and its 200 day moving average price is $4.07. Opthea has a 1-year low of $1.79 and a 1-year high of $6.30.

Institutional Trading of Opthea

Several hedge funds and other institutional investors have recently modified their holdings of the company. Hsbc Holdings PLC bought a new position in Opthea during the fourth quarter valued at approximately $556,000. Jane Street Group LLC acquired a new position in shares of Opthea during the 3rd quarter worth $114,000. Citadel Advisors LLC bought a new position in shares of Opthea during the 4th quarter valued at $79,000. Twin Lakes Capital Management LLC acquired a new stake in shares of Opthea in the 3rd quarter valued at $81,000. Finally, OLD Mission Capital LLC bought a new stake in Opthea in the fourth quarter worth $42,000. 55.95% of the stock is currently owned by hedge funds and other institutional investors.

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.