Opthea (NASDAQ:OPT) Shares Up 0.5%

Opthea Limited (NASDAQ:OPT)’s stock price shot up 0.5% during trading on Friday . The stock traded as high as $1.98 and last traded at $1.89. 14,906 shares were traded during mid-day trading, an increase of 67% from the average session volume of 8,943 shares. The stock had previously closed at $1.88.

Wall Street Analyst Weigh In

Several research firms have commented on OPT. HC Wainwright restated a “buy” rating and issued a $14.00 price target on shares of Opthea in a research note on Tuesday, August 1st. Citigroup lowered their target price on shares of Opthea from $22.00 to $12.00 in a research note on Monday, September 18th. Finally, Oppenheimer lowered their target price on shares of Opthea from $31.00 to $16.00 and set an “outperform” rating for the company in a research note on Wednesday, September 13th.

Opthea Stock Performance

The business’s 50 day moving average is $1.79 and its 200 day moving average is $2.64.

Institutional Investors Weigh In On Opthea

An institutional investor recently raised its position in Opthea stock. Regal Partners Ltd boosted its stake in Opthea Limited (NASDAQ:OPT) by 1.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,914,577 shares of the company’s stock after acquiring an additional 29,777 shares during the period. Opthea comprises approximately 1.8% of Regal Partners Ltd’s portfolio, making the stock its 12th largest position. Regal Partners Ltd owned approximately 4.99% of Opthea worth $8,161,000 at the end of the most recent reporting period. 12.66% of the stock is owned by hedge funds and other 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.