Opthea (NASDAQ:OPT) Trading Down 10.5% – Should You Sell?

Opthea Limited (NASDAQ:OPT) shares fell 10.5% on Tuesday . The stock traded as low as $4.41 and last traded at $4.58. 9,008 shares were traded during mid-day trading, a decline of 63% from the average session volume of 24,500 shares. The stock had previously closed at $5.11.

Wall Street Analysts Forecast Growth

OPT has been the topic of several research analyst reports. HC Wainwright reissued a “buy” rating and issued a $12.00 price target on shares of Opthea in a report on Friday. Canaccord Genuity Group raised shares of Opthea to a “strong-buy” rating in a research report on Tuesday, December 17th.

Opthea Trading Down 29.8 %

The company’s 50-day moving average is $4.54 and its 200-day moving average is $4.02.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. ABC Arbitrage SA acquired a new stake in shares of Opthea during the 4th quarter valued at $40,000. OLD Mission Capital LLC acquired a new position in Opthea in the 4th quarter valued at approximately $42,000. Twin Lakes Capital Management LLC bought a new position in shares of Opthea during the third quarter valued at $81,000. Citadel Advisors LLC acquired a new position in shares of Opthea during the fourth quarter worth $79,000. Finally, Jane Street Group LLC bought a new stake in shares of Opthea in the third quarter worth $114,000. Institutional investors 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.