Quantitative Investment Management LLC boosted its stake in Ophthotech Corp (NASDAQ:OPHT) by 452.0% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 564,100 shares of the biopharmaceutical company’s stock after buying an additional 461,900 shares during the period. Quantitative Investment Management LLC owned about 1.58% of Ophthotech Corp worth $2,064,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Gabelli Funds LLC boosted its position in shares of Ophthotech Corp by 100.0% in the fourth quarter. Gabelli Funds LLC now owns 38,000 shares of the biopharmaceutical company’s stock valued at $184,000 after buying an additional 19,000 shares during the last quarter. Stonepine Capital Management LLC bought a new position in shares of Ophthotech Corp during the fourth quarter valued at about $11,075,000. Oxford Asset Management bought a new position in shares of Ophthotech Corp during the fourth quarter valued at about $190,000. State Street Corp boosted its position in shares of Ophthotech Corp by 37.2% in the fourth quarter. State Street Corp now owns 1,556,192 shares of the biopharmaceutical company’s stock valued at $7,512,000 after buying an additional 421,671 shares during the last quarter. Finally, Quinn Opportunity Partners LLC boosted its position in shares of Ophthotech Corp by 1,138.4% in the fourth quarter. Quinn Opportunity Partners LLC now owns 253,870 shares of the biopharmaceutical company’s stock valued at $1,226,000 after buying an additional 233,370 shares during the last quarter. Institutional investors own 95.66% of the company’s stock.
Shares of Ophthotech Corp (NASDAQ:OPHT) traded down 2.02% during trading on Wednesday, reaching $2.43. 668,985 shares of the company’s stock were exchanged. The stock’s market capitalization is $87.12 million. The company’s 50-day moving average is $2.82 and its 200 day moving average is $9.44. Ophthotech Corp has a 52 week low of $2.41 and a 52 week high of $65.96.
Ophthotech Corp (NASDAQ:OPHT) last released its quarterly earnings data on Wednesday, May 3rd. The biopharmaceutical company reported ($1.20) EPS for the quarter, topping analysts’ consensus estimates of ($1.31) by $0.11. The firm had revenue of $1.66 million during the quarter, compared to the consensus estimate of $1.94 million. Ophthotech Corp had a negative net margin of 323.19% and a negative return on equity of 916.07%. On average, analysts forecast that Ophthotech Corp will post ($3.83) earnings per share for the current year.
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Separately, Zacks Investment Research upgraded shares of Ophthotech Corp from a “hold” rating to a “buy” rating and set a $5.00 price target for the company in a research report on Tuesday, February 14th. Twelve equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $53.53.
In other Ophthotech Corp news, CFO Glenn Sblendorio sold 7,388 shares of Ophthotech Corp stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $3.56, for a total value of $26,301.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.00% of the company’s stock.
Ophthotech Corp Company Profile
Ophthotech Corporation is a biopharmaceutical company. The Company is engaged in the development of therapeutics to treat ophthalmic diseases, with a focus on diseases of the back of the eye. Its primary focus is developing therapeutics for age-related macular degeneration (AMD), which is a disorder of the central portion of the retina, known as the macula, that may result in blindness.
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