Opthea (NASDAQ:OPT) Downgraded by Leerink Partnrs to Hold

Opthea (NASDAQ:OPT) was downgraded by equities researchers at Leerink Partnrs from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Several other research firms have also recently commented on OPT. Canaccord Genuity Group upgraded shares of Opthea to a “strong-buy” rating in a research report on Tuesday, December 17th. HC Wainwright lowered Opthea from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $12.00 to $2.00 in a report on Tuesday. Oppenheimer lowered Opthea from an “outperform” rating to a “market perform” rating in a research report on Monday. Leerink Partners lowered Opthea from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $12.00 to $1.00 in a research report on Tuesday. Finally, Jefferies Financial Group reissued an “underperform” rating and set a $1.00 price target (down from $8.00) on shares of Opthea in a report on Tuesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Opthea has an average rating of “Hold” and a consensus price target of $1.33.

Opthea Stock Up 7.2 %

OPT stock opened at $3.41 on Monday. The firm’s 50-day simple moving average is $4.42 and its 200 day simple moving average is $4.07. Opthea has a fifty-two week low of $1.79 and a fifty-two week high of $6.30.

Hedge Funds Weigh In On Opthea

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OPT. ABC Arbitrage SA bought a new position in Opthea during the fourth quarter valued at about $40,000. OLD Mission Capital LLC acquired a new stake in Opthea in the 4th quarter valued at about $42,000. Twin Lakes Capital Management LLC acquired a new stake in Opthea in the 3rd quarter valued at about $81,000. Citadel Advisors LLC bought a new position in shares of Opthea during the 4th quarter valued at about $79,000. Finally, Jane Street Group LLC bought a new stake in shares of Opthea in the 3rd quarter worth approximately $114,000. 55.95% of the stock is owned by 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.