Opthea (NASDAQ:OPT) Earns “Underperform” Rating from Jefferies Financial Group

Opthea (NASDAQ:OPT)‘s stock had its “underperform” rating reiterated by equities research analysts at Jefferies Financial Group in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $1.00 price objective on the stock. Jefferies Financial Group’s price target would suggest a potential downside of 70.67% from the company’s current price.

A number of other analysts have also recently commented on OPT. HC Wainwright reaffirmed a “buy” rating and set a $12.00 price target on shares of Opthea in a research report on Friday, February 28th. Canaccord Genuity Group upgraded Opthea to a “strong-buy” rating in a research note on Tuesday, December 17th. Finally, Oppenheimer downgraded shares of Opthea from an “outperform” rating to a “market perform” rating in a report on Monday.

Opthea Stock Performance

Opthea stock opened at $3.41 on Tuesday. Opthea has a twelve month low of $1.79 and a twelve month high of $6.30. The business has a fifty day moving average of $4.43 and a two-hundred day moving average of $4.07.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. ABC Arbitrage SA purchased a new stake in Opthea in the fourth quarter valued at $40,000. OLD Mission Capital LLC purchased a new position in Opthea during the 4th quarter worth approximately $42,000. Twin Lakes Capital Management LLC acquired a new position in Opthea during the third quarter worth approximately $81,000. Citadel Advisors LLC purchased a new stake in Opthea in the fourth quarter valued at approximately $79,000. Finally, Jane Street Group LLC purchased a new position in shares of Opthea during the third quarter worth approximately $114,000. Institutional investors and hedge funds 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.