Simplex Trading Lowers stake in Ophthotech Corp (OPHT)

Ophthotech Corp (OPHT) : Simplex Trading reduced its stake in Ophthotech Corp by 27.57% during the most recent quarter end. The investment management company now holds a total of 7,398 shares of Ophthotech Corp which is valued at $320,703 after selling 2,816 shares in Ophthotech Corp , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Ophthotech Corp makes up approximately 0.04% of Simplex Trading’s portfolio.

Other Hedge Funds, Including , Bnp Paribas Arbitrage Sa boosted its stake in OPHT in the latest quarter, The investment management firm added 1,382 additional shares and now holds a total of 2,590 shares of Ophthotech Corp which is valued at $117,327.

Ophthotech Corp closed down -0.35 points or -0.80% at $43.35 with 9,79,457 shares getting traded on Friday. Post opening the session at $43.65, the shares hit an intraday low of $43.01 and an intraday high of $45.23 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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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