HC Wainwright Reiterates “Buy” Rating for Opthea (NASDAQ:OPT)

Opthea (NASDAQ:OPT)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a research note issued on Friday,Benzinga reports. They currently have a $12.00 target price on the stock. HC Wainwright’s target price points to a potential upside of 160.87% from the company’s previous close.

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

Opthea Price Performance

Shares of NASDAQ:OPT opened at $4.60 on Friday. Opthea has a 52 week low of $1.79 and a 52 week high of $6.30. The firm has a fifty day simple moving average of $4.49 and a two-hundred day simple moving average of $3.96.

Hedge Funds Weigh In On Opthea

Large investors have recently bought and sold shares of the business. ABC Arbitrage SA purchased a new stake in shares of Opthea during the fourth quarter worth about $40,000. OLD Mission Capital LLC acquired a new stake in Opthea in the 4th quarter worth about $42,000. Twin Lakes Capital Management LLC purchased a new stake in Opthea during the 3rd quarter worth approximately $81,000. Citadel Advisors LLC acquired a new position in shares of Opthea during the fourth quarter valued at approximately $79,000. Finally, Jane Street Group LLC acquired a new position in shares of Opthea during the third quarter valued at approximately $114,000. Institutional investors and hedge funds own 55.95% of the company’s stock.

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.