Opthea (NASDAQ:OPT) Given Underperform Rating at Jefferies Financial Group

Jefferies Financial Group reiterated their underperform rating on shares of Opthea (NASDAQ:OPT) in a research note issued to investors on Tuesday morning, MarketBeat reports. They currently have a $1.00 target price on the stock, down from their prior target price of $8.00.

A number of other analysts have also recently weighed in on the company. Canaccord Genuity Group raised Opthea to a “strong-buy” rating in a research report on Tuesday, December 17th. HC Wainwright reissued a “buy” rating and issued a $12.00 price objective on shares of Opthea in a research note on Friday, February 28th. Finally, Oppenheimer cut Opthea from an “outperform” rating to a “market perform” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $1.33.

Opthea Stock Performance

Opthea stock opened at $3.41 on Tuesday. Opthea has a 1-year low of $1.79 and a 1-year high of $6.30. The firm’s fifty day simple moving average is $4.42 and its 200-day simple moving average is $4.07.

Institutional Investors Weigh In On Opthea

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