Opthea (NASDAQ:OPT) Shares Gap Up – Should You Buy?

Opthea Limited (NASDAQ:OPT)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $4.41, but opened at $4.80. Opthea shares last traded at $4.62, with a volume of 11,126 shares.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group upgraded shares of Opthea to a “strong-buy” rating in a research report on Tuesday, December 17th.

Opthea Trading Up 6.3 %

The firm’s 50-day moving average price is $3.64 and its 200-day moving average price is $3.46.

Institutional Trading of Opthea

An institutional investor recently bought a new position in Opthea stock. Jane Street Group LLC purchased a new position in shares of Opthea Limited (NASDAQ:OPT) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 26,632 shares of the company’s stock, valued at approximately $114,000. 55.95% of the stock is currently owned by institutional investors and hedge funds.

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.