Opthea (NASDAQ:OPT) Shares Up 7.2% - What's Next?

Opthea Limited Unsponsored ADR (NASDAQ:OPT - Get Free Report)'s stock price traded up 7.2% on Thursday . The company traded as high as $3.48 and last traded at $3.41. 3,000 shares traded hands during trading, a decline of 89% from the average session volume of 26,536 shares. The stock had previously closed at $3.18.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Oppenheimer cut Opthea from an "outperform" rating to a "market perform" rating in a report on Monday, March 24th. Jefferies Financial Group reissued an "underperform" rating and set a $1.00 price target (down previously from $8.00) on shares of Opthea in a report on Tuesday, March 25th. Leerink Partnrs cut Opthea from a "strong-buy" rating to a "hold" rating in a report on Monday, March 24th. Leerink Partners cut Opthea from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $12.00 to $1.00 in a report on Tuesday, March 25th. Finally, HC Wainwright cut Opthea from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $12.00 to $2.00 in a report on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $1.33.

Opthea Price Performance

The business has a fifty day simple moving average of $3.41 and a 200-day simple moving average of $3.80.

Institutional Investors Weigh In On Opthea

A number of institutional investors have recently made changes to their positions in the stock. Regal Partners Ltd grew its position in shares of Opthea by 78.6% in the 1st quarter. Regal Partners Ltd now owns 5,193,688 shares of the company's stock valued at $17,710,000 after buying an additional 2,286,285 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in Opthea during the fourth quarter worth approximately $556,000. Twin Lakes Capital Management LLC grew its stake in Opthea by 67.4% during the first quarter. Twin Lakes Capital Management LLC now owns 33,156 shares of the company's stock worth $113,000 after purchasing an additional 13,350 shares during the period. Citadel Advisors LLC acquired a new stake in Opthea during the fourth quarter worth approximately $79,000. Finally, OLD Mission Capital LLC grew its stake in Opthea by 78.7% during the first quarter. OLD Mission Capital LLC now owns 19,167 shares of the company's stock worth $65,000 after purchasing an additional 8,439 shares during the period. Institutional investors own 55.95% of the company's stock.

About Opthea

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.