Opthea (NASDAQ:OPT) Rating Lowered to Market Perform at Oppenheimer

Oppenheimer lowered shares of Opthea (NASDAQ:OPT) from an outperform rating to a market perform rating in a research report released on Monday, MarketBeat reports.

A number of other equities analysts have also recently issued reports on OPT. Canaccord Genuity Group upgraded shares of Opthea to a “strong-buy” rating in a research note on Tuesday, December 17th. HC Wainwright reiterated a “buy” rating and issued a $12.00 target price on shares of Opthea in a research note on Friday, February 28th.

Opthea Price Performance

Opthea stock opened at $3.41 on Monday. Opthea has a 12 month low of $1.79 and a 12 month high of $6.30. The business’s fifty day simple moving average is $4.43 and its two-hundred day simple moving average is $4.07.

Hedge Funds Weigh In On Opthea

A number of hedge funds have recently bought and sold shares of the business. ABC Arbitrage SA bought a new stake in shares of Opthea in the fourth quarter worth approximately $40,000. OLD Mission Capital LLC purchased a new stake in Opthea in the fourth quarter worth approximately $42,000. Twin Lakes Capital Management LLC bought a new stake in Opthea in the 3rd quarter worth approximately $81,000. Citadel Advisors LLC purchased a new stake in Opthea during the 4th quarter valued at $79,000. Finally, Jane Street Group LLC bought a new position in shares of Opthea during the 3rd quarter valued at $114,000. Hedge funds and other 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.