Shares of Opthea Limited (NASDAQ:OPT – Get Free Report) traded down 10.5% during mid-day trading on Tuesday . The stock traded as low as $4.41 and last traded at $4.58. 9,008 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 24,500 shares. The stock had previously closed at $5.11.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on OPT shares. HC Wainwright reissued a “buy” rating and issued a $12.00 price objective on shares of Opthea in a research note on Friday. Canaccord Genuity Group raised shares of Opthea to a “strong-buy” rating in a research report on Tuesday, December 17th.
Get Our Latest Analysis on OPT
Opthea Stock Down 29.8 %
Institutional Investors Weigh In On Opthea
Several large investors have recently modified their holdings of the stock. ABC Arbitrage SA purchased a new position in shares of Opthea during the 4th quarter valued at $40,000. OLD Mission Capital LLC purchased a new stake in Opthea during the 4th quarter worth about $42,000. Twin Lakes Capital Management LLC purchased a new position in Opthea during the 3rd quarter valued at about $81,000. Citadel Advisors LLC bought a new stake in shares of Opthea during the fourth quarter valued at about $79,000. Finally, Jane Street Group LLC purchased a new position in Opthea during the third quarter valued at approximately $114,000. Hedge funds and other institutional investors own 55.95% of the company’s stock.
Opthea Company Profile
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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