Opthea (NASDAQ:OPT) Sees Strong Trading Volume – What’s Next?

Shares of Opthea Limited (NASDAQ:OPT) saw strong trading volume on Friday . 84,166 shares were traded during trading, an increase of 204% from the previous session’s volume of 27,659 shares.The stock last traded at $4.87 and had previously closed at $4.60.

Wall Street Analysts Forecast Growth

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

Opthea Price Performance

The stock’s 50-day moving average is $3.64 and its two-hundred day moving average is $3.47.

Institutional Investors Weigh In On Opthea

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