Ghost Tree Capital buys $11,489,600 stake in Ophthotech Corp (OPHT)

Ophthotech Corp (OPHT) : Ghost Tree Capital scooped up 95,000 additional shares in Ophthotech Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 215,000 shares of Ophthotech Corp which is valued at $11,489,600.Ophthotech Corp makes up approximately 4.73% of Ghost Tree Capital’s portfolio.

Other Hedge Funds, Including , Ft Options added OPHT to its portfolio by purchasing 4,270 company shares during the most recent quarter which is valued at $228,189. Ophthotech Corp makes up approx 0.28% of Ft Options’s portfolio.Pioneer Investment Management Inc reduced its stake in OPHT by selling 105 shares or 0.16% in the most recent quarter. The Hedge Fund company now holds 63,987 shares of OPHT which is valued at $3,419,465. Ophthotech Corp makes up approx 0.01% of Pioneer Investment Management Inc’s portfolio.New York State Common Retirement Fund boosted its stake in OPHT in the latest quarter, The investment management firm added 19,949 additional shares and now holds a total of 92,236 shares of Ophthotech Corp which is valued at $4,929,092. Ophthotech Corp makes up approx 0.01% of New York State Common Retirement Fund’s portfolio.Shufro Rose Co reduced its stake in OPHT by selling 1,500 shares or 11.13% in the most recent quarter. The Hedge Fund company now holds 11,975 shares of OPHT which is valued at $732,032. Ophthotech Corp makes up approx 0.08% of Shufro Rose Co’s portfolio.

Ophthotech Corp closed down -0.23 points or -0.43% at $52.99 with 2,54,623 shares getting traded on Monday. Post opening the session at $53.48, the shares hit an intraday low of $52.26 and an intraday high of $53.58 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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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