Quinn Opportunity Partners LLC lessened its stake in Ophthotech Corporation (NASDAQ:OPHT) by 64.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,000 shares of the biopharmaceutical company’s stock after selling 72,973 shares during the period. Quinn Opportunity Partners LLC owned 0.11% of Ophthotech Corporation worth $105,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the stock. Teachers Advisors LLC increased its position in Ophthotech Corporation by 6.1% in the 4th quarter. Teachers Advisors LLC now owns 52,243 shares of the biopharmaceutical company’s stock valued at $252,000 after acquiring an additional 2,999 shares during the period. Geode Capital Management LLC increased its position in Ophthotech Corporation by 3.2% during the 1st quarter. Geode Capital Management LLC now owns 240,571 shares of the biopharmaceutical company’s stock worth $880,000 after purchasing an additional 7,501 shares during the period. Vanguard Group Inc. increased its position in Ophthotech Corporation by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 2,813,720 shares of the biopharmaceutical company’s stock worth $10,298,000 after purchasing an additional 14,766 shares during the period. SG Americas Securities LLC increased its position in Ophthotech Corporation by 67.7% during the 1st quarter. SG Americas Securities LLC now owns 50,867 shares of the biopharmaceutical company’s stock worth $186,000 after purchasing an additional 20,537 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Ophthotech Corporation by 21.7% during the 1st quarter. JPMorgan Chase & Co. now owns 140,040 shares of the biopharmaceutical company’s stock worth $513,000 after purchasing an additional 24,986 shares during the period. Hedge funds and other institutional investors own 61.40% of the company’s stock.
In related news, Chairman David R. Guyer sold 17,678 shares of the firm’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $2.58, for a total transaction of $45,609.24. Following the transaction, the chairman now owns 37,692 shares in the company, valued at $97,245.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 33,909 shares of company stock worth $87,485 in the last quarter. Company insiders own 2.00% of the company’s stock.
Separately, Stifel Nicolaus reiterated a “hold” rating and set a $4.00 target price on shares of Ophthotech Corporation in a research report on Thursday. Twelve equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $46.58.
Shares of Ophthotech Corporation (NASDAQ OPHT) opened at 2.69 on Friday. Ophthotech Corporation has a 12-month low of $2.24 and a 12-month high of $59.46. The company has a 50 day moving average price of $2.73 and a 200-day moving average price of $2.83. The firm’s market cap is $96.68 million.
Ophthotech Corporation (NASDAQ:OPHT) last posted its quarterly earnings data on Wednesday, July 26th. The biopharmaceutical company reported ($0.62) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.07) by $0.45. The company had revenue of $1.66 million for the quarter, compared to analyst estimates of $1.38 million. During the same quarter in the prior year, the business earned ($0.85) EPS. Ophthotech Corporation’s revenue was down 94.1% compared to the same quarter last year. Analysts expect that Ophthotech Corporation will post $0.29 EPS for the current year.
Ophthotech Corporation 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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