Opthea (NASDAQ:OPT) Sees Strong Trading Volume – What’s Next?

Shares of Opthea Limited (NASDAQ:OPT) saw strong trading volume on Tuesday . 9,560 shares were traded during trading, a decline of 53% from the previous session’s volume of 20,183 shares.The stock last traded at $3.80 and had previously closed at $3.58.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group raised Opthea to a “strong-buy” rating in a research report on Tuesday, December 17th.

Opthea Stock Performance

The business has a 50-day moving average of $3.60 and a two-hundred day moving average of $3.34.

Institutional Investors Weigh In On Opthea

A hedge fund recently bought a new stake in Opthea stock. Twin Lakes Capital Management LLC purchased a new stake in Opthea Limited (NASDAQ:OPT) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 19,806 shares of the company’s stock, valued at approximately $81,000. 55.95% of the stock is owned by hedge funds and other institutional investors.

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.