Renaissance Technologies LLC Trims Stake in Ophthotech (OPHT)

Renaissance Technologies LLC trimmed its position in Ophthotech (NASDAQ:OPHT) by 7.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,915,300 shares of the biopharmaceutical company’s stock after selling 145,300 shares during the quarter. Renaissance Technologies LLC owned about 5.31% of Ophthotech worth $5,976,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Wells Fargo & Company MN increased its holdings in Ophthotech by 182.2% in the 4th quarter. Wells Fargo & Company MN now owns 33,160 shares of the biopharmaceutical company’s stock worth $103,000 after acquiring an additional 21,411 shares in the last quarter. Spark Investment Management LLC increased its holdings in Ophthotech by 20.3% in the 4th quarter. Spark Investment Management LLC now owns 258,500 shares of the biopharmaceutical company’s stock worth $806,000 after acquiring an additional 43,700 shares in the last quarter. Alambic Investment Management L.P. purchased a new stake in Ophthotech in the 4th quarter worth approximately $211,000. Eversept Partners LLC purchased a new stake in Ophthotech in the 4th quarter worth approximately $465,000. Finally, Acadian Asset Management LLC purchased a new stake in Ophthotech in the 4th quarter worth approximately $622,000. 60.38% of the stock is owned by institutional investors.

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Ophthotech stock opened at $2.71 on Friday. The company has a market capitalization of $101.95, a P/E ratio of 0.85 and a beta of 1.36. Ophthotech has a 12-month low of $2.24 and a 12-month high of $3.60.

Ophthotech (NASDAQ:OPHT) last announced its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.58) by $0.32. Ophthotech had a net margin of 26.69% and a negative return on equity of 230.07%. During the same quarter last year, the company posted ($1.86) earnings per share. analysts predict that Ophthotech will post -1.71 earnings per share for the current fiscal year.

Several equities research analysts recently issued reports on OPHT shares. ValuEngine lowered shares of Ophthotech from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. TheStreet lowered shares of Ophthotech from a “c” rating to a “d+” rating in a report on Friday, March 2nd. Zacks Investment Research lowered shares of Ophthotech from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 7th. Finally, JPMorgan Chase lowered shares of Ophthotech from a “neutral” rating to an “underweight” rating in a report on Monday, March 19th. One equities research analyst has rated the stock with a sell rating and three have given a hold rating to the company. The stock currently has an average rating of “Hold” and an average price target of $3.63.

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Ophthotech Company Profile

Ophthotech Corporation, a biopharmaceutical company, develops novel therapeutics to treat diseases of the back of the eye. Its principal product candidate, Fovista, an anti-platelet derived growth factor, is in Phase III clinical development for use in combination with anti-vascular endothelial growth factor drugs for the treatment of wet age-related macular degeneration (AMD).

Institutional Ownership by Quarter for Ophthotech (NASDAQ:OPHT)

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