Opthea (NASDAQ:OPT) Sees Strong Trading Volume – Time to Buy?

Shares of Opthea Limited (NASDAQ:OPT) saw unusually-strong trading volume on Friday . Approximately 84,166 shares were traded during mid-day trading, an increase of 204% from the previous session’s volume of 27,659 shares.The stock last traded at $4.87 and had previously closed at $4.60.

Analyst Ratings Changes

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

Opthea Trading Up 6.3 %

The company’s fifty day simple moving average is $3.64 and its 200-day simple moving average is $3.47.

Hedge Funds Weigh In On Opthea

An institutional investor recently bought a new position in Opthea stock. Twin Lakes Capital Management LLC purchased a new stake in Opthea Limited (NASDAQ:OPT) during the third quarter, according to its most recent filing with the SEC. The firm purchased 19,806 shares of the company’s stock, valued at approximately $81,000. 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.