Opthea (NASDAQ:OPT) Stock Rating Lowered by HC Wainwright

Opthea (NASDAQ:OPT) was downgraded by HC Wainwright from a “buy” rating to a “neutral” rating in a research note issued to investors on Tuesday,Briefing.com Automated Import reports. They currently have a $2.00 price target on the stock. HC Wainwright’s price target would indicate a potential downside of 41.35% from the stock’s previous close.

Several other research analysts have also issued reports on OPT. Leerink Partners lowered shares of Opthea from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $12.00 to $1.00 in a research report on Tuesday. Canaccord Genuity Group raised Opthea to a “strong-buy” rating in a report on Tuesday, December 17th. Jefferies Financial Group reiterated an “underperform” rating and issued a $1.00 price target (down from $8.00) on shares of Opthea in a research report on Tuesday. Finally, Oppenheimer cut Opthea from an “outperform” rating to a “market perform” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Opthea currently has a consensus rating of “Hold” and an average price target of $1.33.

Opthea Price Performance

Shares of Opthea stock opened at $3.41 on Tuesday. The company’s fifty day moving average price is $4.43 and its two-hundred day moving average price is $4.07. Opthea has a 52-week low of $1.79 and a 52-week high of $6.30.

Institutional Investors Weigh In On Opthea

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