Opthea (NASDAQ:OPT) Trading Up 1.6% – Still a Buy?

Opthea Limited (NASDAQ:OPT) traded up 1.6% during mid-day trading on Tuesday . The company traded as high as $4.00 and last traded at $3.93. 20,625 shares traded hands during mid-day trading, a decline of 13% from the average session volume of 23,805 shares. The stock had previously closed at $3.87.

Wall Street Analyst Weigh In

OPT has been the topic of several analyst reports. Canaccord Genuity Group upgraded shares of Opthea to a “strong-buy” rating in a research note on Tuesday, December 17th. HC Wainwright decreased their price objective on shares of Opthea from $14.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, September 3rd.

Opthea Price Performance

The stock’s 50-day moving average price is $3.71 and its 200 day moving average price is $3.22.

Institutional Trading of Opthea

A hedge fund recently bought a new stake in Opthea stock. Jane Street Group LLC acquired a new position in Opthea Limited (NASDAQ:OPT) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 26,632 shares of the company’s stock, valued at approximately $114,000. 55.95% of the stock is owned by institutional investors and hedge funds.

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.