Opthea (NASDAQ:OPT) Shares Gap Down – What’s Next?

Opthea Limited (NASDAQ:OPT) shares gapped down prior to trading on Tuesday . The stock had previously closed at $5.21, but opened at $5.06. Opthea shares last traded at $5.21, with a volume of 24,990 shares trading hands.

Analyst Ratings Changes

A number of brokerages have commented on OPT. Canaccord Genuity Group upgraded Opthea to a “strong-buy” rating in a research report on Tuesday, December 17th. HC Wainwright reiterated a “buy” rating and issued a $12.00 price objective on shares of Opthea in a research report on Wednesday, January 29th.

Opthea Price Performance

The company has a 50-day moving average price of $4.30 and a 200-day moving average price of $3.86.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. ABC Arbitrage SA bought a new position in shares of Opthea in the 4th quarter worth $40,000. OLD Mission Capital LLC acquired a new stake in Opthea during the 4th quarter worth $42,000. Citadel Advisors LLC acquired a new stake in Opthea during the 4th quarter worth $79,000. Twin Lakes Capital Management LLC acquired a new stake in Opthea during the 3rd quarter worth $81,000. Finally, Jane Street Group LLC acquired a new stake in Opthea during the 3rd quarter worth $114,000. 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.