Opthea Limited Unsponsored ADR (NASDAQ:OPT - Get Free Report) shares gapped up before the market opened on Thursday . The stock had previously closed at $3.18, but opened at $3.48. Opthea shares last traded at $3.41, with a volume of 3,000 shares trading hands.
Analyst Ratings Changes
A number of research firms recently weighed in on OPT. Jefferies Financial Group reissued an "underperform" rating and set a $1.00 target price (down from $8.00) on shares of Opthea in a research report on Tuesday, March 25th. Leerink Partners lowered Opthea from an "outperform" rating to a "market perform" rating and cut their target price for the company from $12.00 to $1.00 in a research note on Tuesday, March 25th. Leerink Partnrs cut Opthea from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 24th. HC Wainwright lowered shares of Opthea from a "buy" rating to a "neutral" rating and lowered their price target for the company from $12.00 to $2.00 in a report on Tuesday, March 25th. Finally, Oppenheimer cut shares of Opthea from an "outperform" rating to a "market perform" rating in a research note on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $1.33.
Get Our Latest Stock Analysis on Opthea
Opthea Stock Performance
The firm has a 50 day simple moving average of $3.41 and a 200-day simple moving average of $3.79.
Institutional Investors Weigh In On Opthea
A number of hedge funds have recently made changes to their positions in the company. Twin Lakes Capital Management LLC boosted its position in Opthea by 67.4% in the first quarter. Twin Lakes Capital Management LLC now owns 33,156 shares of the company's stock valued at $113,000 after buying an additional 13,350 shares in the last quarter. EP Wealth Advisors LLC bought a new position in shares of Opthea in the first quarter valued at approximately $34,000. OLD Mission Capital LLC boosted its holdings in shares of Opthea by 78.7% in the 1st quarter. OLD Mission Capital LLC now owns 19,167 shares of the company's stock worth $65,000 after acquiring an additional 8,439 shares in the last quarter. Regal Partners Ltd grew its position in Opthea by 78.6% during the 1st quarter. Regal Partners Ltd now owns 5,193,688 shares of the company's stock worth $17,710,000 after acquiring an additional 2,286,285 shares during the last quarter. Finally, Citadel Advisors LLC bought a new stake in Opthea during the 4th quarter worth approximately $79,000. Institutional investors and hedge funds own 55.95% of the company's stock.
About Opthea
(
Get Free Report)
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.
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