Opthea (NASDAQ:OPT) Shares Up 6.1% – Time to Buy?

Shares of Opthea Limited (NASDAQ:OPT) were up 6.1% on Thursday . The company traded as high as $3.81 and last traded at $3.81. Approximately 3,297 shares traded hands during trading, a decline of 87% from the average daily volume of 24,610 shares. The stock had previously closed at $3.59.

Wall Street Analyst Weigh In

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

Opthea Stock Up 4.0 %

The company’s fifty day simple moving average is $3.57 and its two-hundred day simple moving average is $3.37.

Hedge Funds Weigh In On Opthea

A hedge fund recently bought a new stake in Opthea stock. Twin Lakes Capital Management LLC acquired a new position in shares of Opthea Limited (NASDAQ:OPT) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 19,806 shares of the company’s stock, valued at approximately $81,000. 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.