Opthea (NASDAQ:OPT) Shares Gap Down – Time to Sell?

Opthea Limited (NASDAQ:OPT) shares gapped down before the market opened on Tuesday . The stock had previously closed at $5.21, but opened at $5.06. Opthea shares last traded at $5.21, with a volume of 24,990 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have weighed in on OPT. HC Wainwright reissued a “buy” rating and set a $12.00 price target on shares of Opthea in a research report on Wednesday, January 29th. Canaccord Genuity Group raised shares of Opthea to a “strong-buy” rating in a research report on Tuesday, December 17th.

Opthea Price Performance

The company’s fifty day simple moving average is $4.27 and its 200 day simple moving average is $3.85.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in OPT. Jane Street Group LLC bought a new position in shares of Opthea in the 3rd quarter worth about $114,000. ABC Arbitrage SA bought a new stake in Opthea during the 4th quarter valued at about $40,000. Citadel Advisors LLC bought a new stake in Opthea during the 4th quarter valued at about $79,000. Hsbc Holdings PLC purchased a new stake in shares of Opthea during the 4th quarter valued at about $556,000. Finally, OLD Mission Capital LLC purchased a new stake in shares of Opthea during the 4th quarter valued at about $42,000. 55.95% of the stock is currently 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.