Opthea (NASDAQ:OPT) Downgraded by HC Wainwright to Neutral

HC Wainwright downgraded shares of Opthea (NASDAQ:OPT) from a buy rating to a neutral rating in a research report released on Tuesday morning, MarketBeat.com reports. The firm currently has $2.00 price objective on the stock, down from their previous price objective of $12.00.

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

Opthea Stock Up 7.2 %

NASDAQ OPT opened at $3.41 on Tuesday. The stock has a 50-day moving average of $4.42 and a 200 day moving average of $4.07. Opthea has a twelve month low of $1.79 and a twelve month high of $6.30.

Institutional Investors Weigh In On Opthea

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. ABC Arbitrage SA acquired a new stake in shares of Opthea in the fourth quarter valued at about $40,000. OLD Mission Capital LLC acquired a new position in Opthea during the fourth quarter worth about $42,000. Twin Lakes Capital Management LLC purchased a new stake in Opthea during the 3rd quarter valued at 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 acquired a new stake in Opthea in the 3rd quarter valued at about $114,000. Institutional investors and hedge funds 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.