Opthea (NASDAQ:OPT) Shares Gap Up – Still a Buy?

Opthea Limited (NASDAQ:OPT)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $3.74, but opened at $3.89. Opthea shares last traded at $4.04, with a volume of 8,185 shares.

Wall Street Analyst Weigh In

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

Opthea Price Performance

The firm has a 50 day moving average price of $3.57 and a 200 day moving average price of $3.35.

Hedge Funds Weigh In On Opthea

An institutional investor recently bought a new position in Opthea stock. Jane Street Group LLC purchased a new position in Opthea Limited (NASDAQ:OPT) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 26,632 shares of the company’s stock, valued at approximately $114,000. 55.95% of the stock is currently owned by hedge funds and other 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.