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

Key Points

• Opthea Limited's stock rose 7.2% to a last traded price of $3.41, having previously closed at $3.18 during Friday's trading.
• Institutional investors have shown significant interest, with Regal Partners Ltd increasing its stake by 78.6%, now holding over 5.1 million shares valued at approximately $17.7 million.
• Opthea is a clinical stage biopharmaceutical company focused on developing therapies for eye diseases, utilizing an intellectual property portfolio that includes Vascular Endothelial Growth Factors (VEGF).

Opthea Limited Unsponsored ADR (NASDAQ:OPT - ) rose 7.2% during trading on Friday . The stock traded as high as $3.48 and last traded at $3.41. Approximately 3,000 shares traded hands during trading, The stock had previously closed at $3.18.

Opthea Stock Performance

The firm's 50 day simple moving average is $3.41 and its 200 day simple moving average is $3.77.

Institutional Trading of Opthea

A number of large investors have recently made changes to their positions in OPT. Regal Partners Ltd boosted its stake in shares of Opthea by 78.6% during the first quarter. Regal Partners Ltd now owns 5,193,688 shares of the company's stock valued at $17,710,000 after purchasing an additional 2,286,285 shares during the period. Hsbc Holdings PLC bought a new stake in shares of Opthea in the fourth quarter valued at about $556,000. Citadel Advisors LLC bought a new stake in shares of Opthea in the fourth quarter valued at about $79,000. Twin Lakes Capital Management LLC raised its holdings in shares of 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 acquiring an additional 13,350 shares in the last quarter. Finally, OLD Mission Capital LLC bought a new stake in shares of Opthea in the fourth quarter valued at about $42,000. 55.95% of the stock is owned by hedge funds and other institutional investors.

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.

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