Opthea (NASDAQ:OPT) Shares Up 6.1% – What’s Next?

Opthea Limited (NASDAQ:OPT)’s share price rose 6.1% during mid-day trading on Thursday . The stock traded as high as $3.81 and last traded at $3.81. Approximately 3,297 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 24,610 shares. The stock had previously closed at $3.59.

Analyst Ratings Changes

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

Opthea Trading Up 4.0 %

The company’s 50-day moving average price is $3.57 and its 200-day moving average price is $3.37.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Opthea stock. Jane Street Group LLC acquired a new position in shares of Opthea Limited (NASDAQ:OPT) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 26,632 shares of the company’s stock, valued at approximately $114,000. 55.95% of the stock is currently owned by institutional investors and hedge funds.

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.