Opthea (NASDAQ:OPT) Sees Unusually-High Trading Volume – Should You Buy?

Shares of Opthea Limited (NASDAQ:OPT) saw unusually-high trading volume on Thursday . Approximately 36,145 shares changed hands during mid-day trading, a decline of 3% from the previous session’s volume of 37,414 shares.The stock last traded at $6.03 and had previously closed at $5.33.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Canaccord Genuity Group upgraded Opthea to a “strong-buy” rating in a research note on Tuesday, December 17th. HC Wainwright reiterated a “buy” rating and issued a $12.00 target price on shares of Opthea in a research report on Wednesday, January 29th.

Opthea Trading Down 4.0 %

The company has a fifty day moving average of $4.05 and a 200 day moving average of $3.69.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of OPT. Jane Street Group LLC acquired a new stake in Opthea in the 3rd quarter valued at about $114,000. ABC Arbitrage SA bought a new stake in shares of Opthea in the 4th quarter worth approximately $40,000. Finally, Twin Lakes Capital Management LLC acquired a new stake in Opthea during the third quarter valued at approximately $81,000. 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.