Signpost Capital Advisors Lp buys $2.2 Million stake in Ophthotech Corp (OPHT)

Ophthotech Corp (OPHT) : Signpost Capital Advisors Lp scooped up 32,677 additional shares in Ophthotech Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 50,587 shares of Ophthotech Corp which is valued at $2.2 Million.Ophthotech Corp makes up approximately 1.63% of Signpost Capital Advisors Lp’s portfolio.

Other Hedge Funds, Including , Moneta Group Investment Advisors sold out all of its stake in OPHT during the most recent quarter. The investment firm sold 3,000 shares of OPHT which is valued $131,850.Group One Trading reduced its stake in OPHT by selling 1,200 shares or 39.19% in the most recent quarter. The Hedge Fund company now holds 1,862 shares of OPHT which is valued at $81,835. Ophthotech Corp makes up approx 0.01% of Group One Trading’s portfolio. Bessemer Group Inc added OPHT to its portfolio by purchasing 22 company shares during the most recent quarter which is valued at $967. American Century Companies Inc sold out all of its stake in OPHT during the most recent quarter. The investment firm sold 88,173 shares of OPHT which is valued $3.8 Million.

Ophthotech Corp closed down -0.87 points or -1.69% at $50.75 with 5,59,890 shares getting traded on Wednesday. Post opening the session at $51.51, the shares hit an intraday low of $49.89 and an intraday high of $52.05 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Many Wall Street Analysts have commented on Ophthotech Corp. Barclays Initiated Ophthotech Corp on Apr 27, 2016 to “Overweight”, Price Target of the shares are set at $85.

Ophthotech Corporation is a United States-based biopharmaceutical company. The Company is engaged in developing and commercializing therapies for the treatment of diseases of the eye and focuses on developing therapeutics for age-related macular degeneration (AMD). Its product pipeline includes Fovista anti-platelet derived growth factor (PDGF) therapy which is in Phase III clinical trials for use in combination with anti-VEGF drugs to disrupt the formation of abnormal new blood vessels in wet AMD. It prevents PDGF from binding to its natural receptor on pericytes thus causing pericytes to be stripped from newly formed abnormal blood vessels.Its second product candidate Zimura an inhibitor of complement factor C5 is developed for the treatment of geographic atrophy (a form of dry AMD) and in combination with anti-VEGF therapy and Fovista for the treatment of wet AMD. Both Fovista and Zimura are aptamers single strands of nucleic acid that binds with affinity to targets.

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