Opthea (NASDAQ:OPT) Hits New 52-Week High – Here’s What Happened

Opthea Limited (NASDAQ:OPT) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $6.30 and last traded at $5.92, with a volume of 61261 shares trading hands. The stock had previously closed at $5.71.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. HC Wainwright reissued a “buy” rating and set a $12.00 price objective on shares of Opthea in a report on Wednesday, January 29th. Canaccord Genuity Group raised Opthea to a “strong-buy” rating in a report on Tuesday, December 17th.

Opthea Stock Performance

The company has a 50-day moving average of $4.01 and a 200-day moving average of $3.66.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Jane Street Group LLC bought a new position in Opthea during the 3rd quarter worth $114,000. Twin Lakes Capital Management LLC acquired a new position in shares of Opthea during the third quarter valued at $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 currently owned by 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.