Opthea (NASDAQ:OPT) Stock Rating Lowered by Oppenheimer

Opthea (NASDAQ:OPT) was downgraded by equities researchers at Oppenheimer from an “outperform” rating to a “market perform” rating in a note issued to investors on Monday, Marketbeat Ratings reports.

Several other analysts have also recently issued reports on the stock. Canaccord Genuity Group raised shares of Opthea to a “strong-buy” rating in a research note on Tuesday, December 17th. HC Wainwright reissued a “buy” rating and set a $12.00 price target on shares of Opthea in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $1.33.

Opthea Stock Up 7.2 %

NASDAQ OPT opened at $3.41 on Monday. The company has a 50-day moving average of $4.42 and a 200-day moving average of $4.07. Opthea has a 12 month low of $1.79 and a 12 month high of $6.30.

Institutional Investors Weigh In On Opthea

Several large investors have recently made changes to their positions in the business. Hsbc Holdings PLC acquired a new position in shares of Opthea during the 4th quarter valued at $556,000. Jane Street Group LLC purchased a new position in Opthea in the third quarter valued at about $114,000. Citadel Advisors LLC acquired a new position in shares of Opthea during the fourth quarter worth about $79,000. Twin Lakes Capital Management LLC acquired a new position in shares of Opthea during the third quarter worth about $81,000. Finally, OLD Mission Capital LLC purchased a new stake in shares of Opthea in the fourth quarter worth about $42,000. Institutional investors and hedge funds own 55.95% of the company’s stock.

About Opthea

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.