Opthea (NASDAQ:OPT) Earns “Buy” Rating from HC Wainwright

Opthea (NASDAQ:OPT)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $12.00 price target on the stock. HC Wainwright’s price target suggests a potential upside of 118.58% from the company’s current price.

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

Opthea Stock Up 8.3 %

Shares of OPT opened at $5.49 on Wednesday. The business has a 50-day simple moving average of $3.78 and a two-hundred day simple moving average of $3.54. Opthea has a 12-month low of $1.79 and a 12-month high of $5.51.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of OPT. ABC Arbitrage SA bought a new position in shares of Opthea during the fourth quarter worth about $40,000. Twin Lakes Capital Management LLC bought a new position in Opthea during the 3rd quarter worth approximately $81,000. Finally, Jane Street Group LLC acquired a new position in shares of Opthea in the 3rd quarter worth approximately $114,000. 55.95% of the stock is owned by institutional investors and hedge funds.

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.