Opthea (NASDAQ:OPT) Trading 6.1% Higher – Still a Buy?

Opthea Limited (NASDAQ:OPT) was up 6.1% during mid-day trading on Thursday . The stock traded as high as $3.81 and last traded at $3.81. 3,297 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 24,610 shares. The stock had previously closed at $3.59.

Analyst Ratings Changes

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

Opthea Price Performance

The company’s 50-day moving average is $3.58 and its two-hundred day moving average is $3.35.

Institutional Trading of Opthea

A hedge fund recently bought a new stake in Opthea stock. Jane Street Group LLC purchased a new position in shares of Opthea Limited (NASDAQ:OPT) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 26,632 shares of the company’s stock, valued at approximately $114,000. 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.