Opthea (NASDAQ:OPT) Upgraded to “Hold” at Zacks Investment Research

Opthea (NASDAQ:OPT – Get Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Friday, Zacks.com reports.

According to Zacks, “Opthea Limited is a biotechnology company. It develops and commercializes therapies primarily for eye disease principally in Australia. Opthea Limited is based in South Yarra, Australia. “

Separately, Truist Financial reduced their price objective on Opthea from $25.00 to $13.00 in a research note on Wednesday.

NASDAQ:OPT opened at $5.95 on Friday. Opthea has a 12 month low of $4.73 and a 12 month high of $16.23. The business’s 50-day moving average is $5.95 and its 200 day moving average is $6.81.

An institutional investor recently raised its position in Opthea stock. Victory Capital Management Inc. grew its holdings in shares of Opthea Limited (NASDAQ:OPT – Get Rating) by 6.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,574,694 shares of the company’s stock after buying an additional 98,801 shares during the quarter. Victory Capital Management Inc. owned 3.58% of Opthea worth $11,811,000 at the end of the most recent reporting period. 13.29% of the stock is currently owned by institutional investors and hedge funds.

Opthea Company Profile (Get Rating)

Opthea Limited, a clinical stage biopharmaceutical company, develops and commercializes 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.

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