Opthea (NASDAQ:OPT) Trading 7.2% Higher – Here’s What Happened

Opthea Limited Unsponsored ADR (NASDAQ:OPT) shares traded up 7.2% on Friday . The company traded as high as $3.48 and last traded at $3.41. 3,000 shares traded hands during mid-day trading, The stock had previously closed at $3.18.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Opthea in a report on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $1.33.

Opthea Stock Up 7.2%

The company has a 50 day moving average of $3.41 and a 200 day moving average of $3.41.

Institutional Investors Weigh In On Opthea

Large investors have recently made changes to their positions in the company. EP Wealth Advisors LLC bought a new stake in shares of Opthea in the 1st quarter valued at approximately $34,000. OLD Mission Capital LLC boosted its position in Opthea by 78.7% during the first quarter. OLD Mission Capital LLC now owns 19,167 shares of the company’s stock worth $65,000 after purchasing an additional 8,439 shares during the period. Twin Lakes Capital Management LLC boosted its position in Opthea by 67.4% during the first quarter. Twin Lakes Capital Management LLC now owns 33,156 shares of the company’s stock worth $113,000 after purchasing an additional 13,350 shares during the period. Finally, Regal Partners Ltd boosted its position in Opthea by 78.6% during the first quarter. Regal Partners Ltd now owns 5,193,688 shares of the company’s stock worth $17,710,000 after purchasing an additional 2,286,285 shares during the period. Institutional investors 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.