Opthea (NASDAQ:OPT) Sees Strong Trading Volume – Still a Buy?

Opthea Limited (NASDAQ:OPT) saw unusually-strong trading volume on Tuesday . Approximately 9,560 shares were traded during mid-day trading, a decline of 53% from the previous session’s volume of 20,183 shares.The stock last traded at $3.80 and had previously closed at $3.58.

Wall Street Analysts Forecast Growth

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

Opthea Price Performance

The business has a 50 day simple moving average of $3.60 and a two-hundred day simple moving average of $3.34.

Institutional Trading of Opthea

An institutional investor recently bought a new position in Opthea stock. Twin Lakes Capital Management LLC purchased a new position in shares of Opthea Limited (NASDAQ:OPT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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.