Opthea (NASDAQ:OPT) Sees Strong Trading Volume – What’s Next?

Opthea Limited (NASDAQ:OPT) shares saw unusually-strong trading volume on Tuesday . Approximately 9,560 shares traded hands during mid-day trading, a decline of 53% from the previous session’s volume of 20,183 shares.The stock last traded at $3.80 and had previously closed at $3.58.

Analyst Ratings Changes

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

Opthea Price Performance

The stock’s fifty day simple moving average is $3.58 and its 200-day simple moving average is $3.35.

Institutional Trading of Opthea

An institutional investor recently bought a new position in Opthea stock. Twin Lakes Capital Management LLC purchased a new position in shares of Opthea Limited (NASDAQ:OPT) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 19,806 shares of the company’s stock, valued at approximately $81,000. 55.95% of the stock is owned by hedge funds and other institutional investors.

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.