Opthea (NASDAQ:OPT) Reaches New 12-Month High – What’s Next?

Shares of Opthea Limited (NASDAQ:OPT) reached a new 52-week high on Thursday . The company traded as high as $5.51 and last traded at $5.49, with a volume of 19965 shares. The stock had previously closed at $5.07.

Wall Street Analyst Weigh In

OPT has been the subject of a number of recent research reports. HC Wainwright restated a “buy” rating and issued a $12.00 price objective on shares of Opthea in a research note on Wednesday. Canaccord Genuity Group upgraded Opthea to a “strong-buy” rating in a research note on Tuesday, December 17th.

Opthea Stock Performance

The business has a 50 day moving average of $3.83 and a 200 day moving average of $3.57.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC acquired a new stake in shares of Opthea during the third quarter worth $114,000. Twin Lakes Capital Management LLC acquired a new position in shares of Opthea during the third quarter worth about $81,000. Finally, ABC Arbitrage SA bought a new position in shares of Opthea during the fourth quarter worth about $40,000. 55.95% of the stock is owned by institutional investors and hedge funds.

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.