Opthea (NASDAQ:OPT) Stock Price Up 7.2% – Should You Buy?

Opthea Limited Unsponsored ADR (NASDAQ:OPT)’s stock price rose 7.2% during mid-day trading on Monday . The stock traded as high as $3.48 and last traded at $3.41. Approximately 3,000 shares traded hands during mid-day trading, The stock had previously closed at $3.18.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Opthea in a research report on Tuesday, November 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $1.33.

Opthea Stock Performance

The firm has a 50-day simple moving average of $3.41 and a two-hundred day simple moving average of $3.41.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. EP Wealth Advisors LLC acquired a new position in Opthea in the first quarter valued at approximately $34,000. OLD Mission Capital LLC increased its holdings in shares of Opthea by 78.7% during the 1st quarter. OLD Mission Capital LLC now owns 19,167 shares of the company’s stock valued at $65,000 after purchasing an additional 8,439 shares in the last quarter. Twin Lakes Capital Management LLC lifted its stake in shares of Opthea by 67.4% in the 1st quarter. Twin Lakes Capital Management LLC now owns 33,156 shares of the company’s stock valued at $113,000 after purchasing an additional 13,350 shares during the period. Finally, Regal Partners Ltd boosted its holdings in Opthea by 78.6% during the first quarter. Regal Partners Ltd now owns 5,193,688 shares of the company’s stock worth $17,710,000 after buying an additional 2,286,285 shares in the last quarter. 55.95% of the stock is currently owned by hedge funds and other institutional investors.

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.