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

Opthea Limited (NASDAQ:OPT)’s stock price gapped down before the market opened 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

Several research analysts 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 set a $12.00 price target on shares of Opthea in a research report on Wednesday, January 29th.

Opthea Price Performance

The business has a 50 day simple moving average of $4.30 and a 200 day simple moving average of $3.86.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. ABC Arbitrage SA purchased a new position in Opthea in the fourth quarter valued at about $40,000. OLD Mission Capital LLC bought a new stake in shares of Opthea during the 4th quarter worth about $42,000. Twin Lakes Capital Management LLC bought a new stake in shares of Opthea during the 3rd quarter worth about $81,000. Citadel Advisors LLC bought a new stake in shares of Opthea during the 4th quarter worth about $79,000. Finally, Jane Street Group LLC bought a new stake in shares of Opthea during the 3rd quarter worth about $114,000. Hedge funds and other institutional investors own 55.95% of the company’s stock.

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.