Novo As Lowers stake in Ophthotech Corp (OPHT)

Ophthotech Corp (OPHT) : Novo As reduced its stake in Ophthotech Corp by 26.47% during the most recent quarter end. The investment management company now holds a total of 3,610,487 shares of Ophthotech Corp which is valued at $192,944,425 after selling 1,300,000 shares in Ophthotech Corp , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Ophthotech Corp makes up approximately 19.68% of Novo As’s portfolio.

Other Hedge Funds, Including , Brown Brothers Harriman Co added OPHT to its portfolio by purchasing 99 company shares during the most recent quarter which is valued at $5,291. Renaissance Technologies sold out all of its stake in OPHT during the most recent quarter. The investment firm sold 362,500 shares of OPHT which is valued $19,372,000.Blackrock Japan Ltd reduced its stake in OPHT by selling 70 shares or 10.92% in the most recent quarter. The Hedge Fund company now holds 571 shares of OPHT which is valued at $30,514. Eam Investors sold out all of its stake in OPHT during the most recent quarter. The investment firm sold 48,341 shares of OPHT which is valued $2,955,085. Quantitative Systematic Strategies added OPHT to its portfolio by purchasing 19,051 company shares during the most recent quarter which is valued at $1,223,836. Ophthotech Corp makes up approx 0.53% of Quantitative Systematic Strategies’s portfolio.

Ophthotech Corp opened for trading at $52.75 and hit $53.04 on the upside on Thursday, eventually ending the session at $52.97, with a gain of 0.30% or 0.16 points. The heightened volatility saw the trading volume jump to 2,50,730 shares. Company has a market cap of $1,885 M.

Many Wall Street Analysts have commented on Ophthotech Corp. Ophthotech Corp was Upgraded by JP Morgan to ” Overweight” on Jun 2, 2016.

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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