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

Opthea (NASDAQ:OPT)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a research note issued on Friday,Benzinga reports. They currently have a $12.00 price target on the stock. HC Wainwright’s price target points to a potential upside of 160.87% from the company’s current price.

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

Opthea Stock Down 0.4 %

Shares of OPT stock opened at $4.60 on Friday. The stock’s 50-day moving average is $4.49 and its two-hundred day moving average is $3.96. Opthea has a 1 year low of $1.79 and a 1 year high of $6.30.

Institutional Trading of Opthea

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