Good news and a spike in volume may be buyers starting to build for a move up

Potential Buy Entry Alert OPT

 

Time Frame : Daily

Sector : Pharmaceuticals and Biotech/Healthcare

Key Stats : $212.34 Million Market Cap, VWAP 0.58, ASX Ranking 689, 4 Week Av Turnover $75,925, Current Turnover (Intraday as at time of alert) $1,608,403.

Company Overview : Opthea Limited (OPT, formerly Circadian Technologies Limited) is a biologics drug developer focusing on ophthalmic disease therapies. Opthea’s lead molecule is OPT-302 for the treatment of ‘back of the eye’ disease such as wet age-related macular degeneration (wet AMD) and diabetic macular edema (DME). OPT-302 is a soluble form of VEGFR-3 that acts a VEGF-C/VEGF-D ‘trap’.

Broker Consensus : NONE

 

OPT – Opthea Limited

OPT may be another biotech to take a run to new highs after some positive news today sees a spike in volume. Price still has some work to do to build the higher lows but the way it rejected the lows yesterday in a shocker on the overall ASX, has us glued for more info. Watching for favorable price action to show that buyers are starting to build…no hurry.

 

Stock Code : OPT – Opthea Limited

Company Website : www.opthea.com

Current Price : 0.58

Status : On watch for buy entry setup