Opthea (NASDAQ:OPT) Receives “Buy” Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Opthea (NASDAQ:OPT) in a research report released on Wednesday morning,Benzinga reports. They currently have a $12.00 target price on the stock.

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

Opthea Price Performance

Opthea stock opened at $5.56 on Wednesday. Opthea has a fifty-two week low of $1.79 and a fifty-two week high of $5.90. The firm’s 50 day simple moving average is $3.83 and its 200-day simple moving average is $3.57.

Hedge Funds Weigh In On Opthea

Several institutional investors and hedge funds have recently bought and sold shares of OPT. Jane Street Group LLC acquired a new stake in shares of Opthea during the third quarter worth approximately $114,000. Twin Lakes Capital Management LLC purchased a new stake in Opthea in the 3rd quarter worth approximately $81,000. Finally, ABC Arbitrage SA acquired a new stake in shares of Opthea during the 4th quarter valued at $40,000. 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.