Opthea (NASDAQ:OPT) Cut to “Market Perform” at Oppenheimer

Oppenheimer lowered shares of Opthea (NASDAQ:OPT) from an outperform rating to a market perform rating in a research report report published on Monday morning, MarketBeat Ratings reports.

Other equities research analysts have also recently issued research reports about the stock. Canaccord Genuity Group upgraded shares of Opthea to a “strong-buy” rating in a report on Tuesday, December 17th. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Opthea in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Opthea has a consensus rating of “Hold” and a consensus target price of $1.33.

Opthea Stock Up 7.2 %

OPT opened at $3.41 on Monday. The stock has a 50-day moving average price of $4.42 and a 200-day moving average price of $4.07. Opthea has a 1 year low of $1.79 and a 1 year high of $6.30.

Hedge Funds Weigh In On Opthea

Several hedge funds and other institutional investors have recently modified their holdings of the company. Hsbc Holdings PLC bought a new position in shares of Opthea in the 4th quarter worth approximately $556,000. Jane Street Group LLC purchased a new stake in Opthea during the third quarter valued at approximately $114,000. Citadel Advisors LLC bought a new position in Opthea in the fourth quarter worth approximately $79,000. Twin Lakes Capital Management LLC purchased a new position in shares of Opthea during the 3rd quarter worth $81,000. Finally, OLD Mission Capital LLC bought a new stake in shares of Opthea during the 4th quarter valued at $42,000. 55.95% of the stock is owned by 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.