Opthea Limited (NASDAQ:OPT – Get Rating)'s stock price shot up 3.4% during trading on Tuesday . The company traded as high as $7.00 and last traded at $7.00. 691 shares traded hands during trading, a decline of 44% from the average session volume of 1,225 shares. The stock had previously closed at $6.77.
Analyst Upgrades and Downgrades
A number of research firms recently commented on OPT. SVB Leerink began coverage on shares of Opthea in a research report on Tuesday, April 26th. They set an "outperform" rating and a $25.00 price target on the stock. Truist Financial lowered their price target on shares of Opthea from $25.00 to $13.00 in a research report on Wednesday, April 13th.
Get Opthea alerts:Opthea Stock Up 3.4 %
The firm's fifty day simple moving average is $6.50 and its 200 day simple moving average is $6.28.
Hedge Funds Weigh In On Opthea
An institutional investor recently raised its position in Opthea stock. Victory Capital Management Inc. grew its stake in Opthea Limited (NASDAQ:OPT – Get Rating) by 1.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,596,207 shares of the company's stock after purchasing an additional 21,513 shares during the period. Victory Capital Management Inc. owned about 3.63% of Opthea worth $9,817,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 12.83% of the company's stock.Opthea Company Profile
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Opthea Limited, a clinical stage biopharmaceutical company, develops and commercializes 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.
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