Opthea Limited (NASDAQ:OPT) Short Interest Up 20.7% in March

Opthea Limited (NASDAQ:OPT) was the target of a large growth in short interest in March. As of March 15th, there was short interest totalling 522,200 shares, a growth of 20.7% from the February 28th total of 432,800 shares. Currently, 0.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 31,700 shares, the short-interest ratio is currently 16.5 days.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on OPT shares. Canaccord Genuity Group upgraded shares of Opthea to a “strong-buy” rating in a research report on Tuesday, December 17th. Leerink Partners downgraded shares of Opthea from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $12.00 to $1.00 in a research note on Tuesday, March 25th. Leerink Partnrs cut Opthea from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 24th. HC Wainwright downgraded Opthea from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $12.00 to $2.00 in a report on Tuesday, March 25th. Finally, Jefferies Financial Group restated an “underperform” rating and issued a $1.00 price target (down from $8.00) on shares of Opthea in a report on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $1.33.

Institutional Investors Weigh In On Opthea

Several hedge funds have recently modified their holdings of the business. ABC Arbitrage SA bought a new position in Opthea in the fourth quarter worth approximately $40,000. OLD Mission Capital LLC purchased a new position in shares of Opthea in the 4th quarter valued at $42,000. Twin Lakes Capital Management LLC purchased a new position in shares of Opthea in the 3rd quarter valued at $81,000. Citadel Advisors LLC bought a new position in shares of Opthea in the 4th quarter worth $79,000. Finally, Jane Street Group LLC purchased a new stake in shares of Opthea during the 3rd quarter worth $114,000. Hedge funds and other institutional investors own 55.95% of the company’s stock.

Opthea Price Performance

Opthea stock remained flat at $3.41 during midday trading on Wednesday. The company’s fifty day moving average is $4.38 and its two-hundred day moving average is $4.08. Opthea has a 1 year low of $1.79 and a 1 year high of $6.30.

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.