Opthea (NASDAQ:OPT) Shares Gap Up – Should You Buy?

Opthea Limited (NASDAQ:OPT)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $4.41, but opened at $4.80. Opthea shares last traded at $4.62, with a volume of 11,126 shares changing hands.

Analyst Upgrades and Downgrades

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

Opthea Trading Up 5.0 %

The stock has a 50-day simple moving average of $3.58 and a two-hundred day simple moving average of $3.43.

Institutional Trading of Opthea

A hedge fund recently bought a new stake in Opthea stock. Twin Lakes Capital Management LLC purchased a new stake in Opthea Limited (NASDAQ:OPT) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 19,806 shares of the company’s stock, valued at approximately $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.