Opthea (NASDAQ:OPT) Shares Gap Up – Here’s What Happened

Opthea Limited (NASDAQ:OPT)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $4.41, but opened at $4.80. Opthea shares last traded at $4.62, with a volume of 11,126 shares traded.

Analysts Set New Price Targets

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

Opthea Stock Performance

The business’s 50 day moving average price is $3.64 and its 200 day moving average price is $3.46.

Hedge Funds 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 13F filing with the Securities & Exchange Commission. The institutional investor purchased 19,806 shares of the company’s stock, valued at approximately $81,000. 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.