Opthea (NASDAQ:OPT) Trading Down 4.1% – Here’s Why

Opthea Limited (NASDAQ:OPT) traded down 4.1% on Monday . The stock traded as low as $5.38 and last traded at $5.50. 14,610 shares traded hands during trading, a decline of 60% from the average session volume of 36,359 shares. The stock had previously closed at $5.73.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on OPT shares. Canaccord Genuity Group raised Opthea to a “strong-buy” rating in a research note on Tuesday, December 17th. HC Wainwright restated a “buy” rating and issued a $12.00 price target on shares of Opthea in a research report on Wednesday, January 29th.

Opthea Trading Down 4.2 %

The firm’s fifty day moving average is $4.12 and its 200 day moving average is $3.75.

Institutional Investors Weigh In On Opthea

A number of institutional investors and hedge funds have recently modified their holdings of the business. Jane Street Group LLC bought a new stake in Opthea during the 3rd quarter valued at about $114,000. Twin Lakes Capital Management LLC purchased a new position in shares of Opthea during the third quarter worth approximately $81,000. Finally, ABC Arbitrage SA bought a new stake in shares of Opthea during the fourth quarter valued at approximately $40,000. 55.95% of the stock is owned by institutional investors.

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.