Opthea (NASDAQ:OPT) Trading Down 9% – Should You Sell?

Opthea Limited (NASDAQ:OPT) fell 9% on Monday . The stock traded as low as $5.03 and last traded at $5.06. 5,829 shares were traded during trading, a decline of 84% from the average session volume of 36,737 shares. The stock had previously closed at $5.56.

Analyst Ratings Changes

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

Opthea Stock Performance

The firm’s 50 day moving average is $3.83 and its 200-day moving average is $3.59.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. ABC Arbitrage SA acquired a new stake in shares of Opthea during the fourth quarter valued at about $40,000. Twin Lakes Capital Management LLC bought a new position in Opthea during the third quarter worth $81,000. Finally, Jane Street Group LLC bought a new stake in Opthea during the third quarter valued at $114,000. 55.95% of the stock is currently owned by hedge funds and other 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.