Opthea (NASDAQ:OPT) Shares Gap Up – What’s Next?

Opthea Limited (NASDAQ:OPT) shares gapped up before the market opened on Friday . The stock had previously closed at $3.74, but opened at $3.89. Opthea shares last traded at $4.04, with a volume of 8,185 shares changing hands.

Wall Street Analysts Forecast Growth

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

Opthea Stock Performance

The firm’s 50 day moving average price is $3.57 and its 200 day moving average price is $3.37.

Institutional Investors Weigh In On Opthea

An institutional investor recently bought a new position in Opthea stock. Jane Street Group LLC acquired a new stake in shares of Opthea Limited (NASDAQ:OPT) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 26,632 shares of the company’s stock, valued at approximately $114,000. 55.95% of the stock is currently 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.