Ophthotech Corporation (NASDAQ:OPHT) Position Reduced by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its position in Ophthotech Corporation (NASDAQ:OPHT) by 0.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 129,102 shares of the biopharmaceutical company’s stock after selling 325 shares during the period. Bank of New York Mellon Corp owned about 0.36% of Ophthotech Corporation worth $472,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. Teachers Advisors LLC boosted its stake in Ophthotech Corporation by 6.1% in the fourth quarter. Teachers Advisors LLC now owns 52,243 shares of the biopharmaceutical company’s stock worth $252,000 after buying an additional 2,999 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in Ophthotech Corporation by 397.0% in the first quarter. Canada Pension Plan Investment Board now owns 131,700 shares of the biopharmaceutical company’s stock worth $482,000 after buying an additional 105,200 shares during the last quarter. Norges Bank acquired a new stake in Ophthotech Corporation during the fourth quarter worth approximately $1,158,000. Acadian Asset Management LLC purchased a new stake in shares of Ophthotech Corporation during the first quarter worth about $2,157,000. Finally, State Street Corp boosted its stake in shares of Ophthotech Corporation by 37.2% in the fourth quarter. State Street Corp now owns 1,556,192 shares of the biopharmaceutical company’s stock worth $7,512,000 after buying an additional 421,671 shares in the last quarter. Institutional investors own 72.25% of the company’s stock.

Shares of Ophthotech Corporation (NASDAQ OPHT) traded up 2.757% during midday trading on Wednesday, reaching $2.795. The company had a trading volume of 220,914 shares. The company has a 50 day moving average of $2.62 and a 200 day moving average of $3.11. The firm’s market capitalization is $100.46 million. Ophthotech Corporation has a 12-month low of $2.24 and a 12-month high of $59.99.

Ophthotech Corporation (NASDAQ:OPHT) last posted its quarterly earnings data on Wednesday, July 26th. The biopharmaceutical company reported ($0.62) EPS for the quarter, topping the consensus estimate of ($1.07) by $0.45. The company had revenue of $1.66 million during the quarter, compared to the consensus estimate of $1.38 million. During the same period last year, the business earned ($0.85) EPS. The firm’s quarterly revenue was down 94.1% compared to the same quarter last year. Analysts anticipate that Ophthotech Corporation will post $0.29 EPS for the current year.

COPYRIGHT VIOLATION WARNING: This report was originally published by [[site]] and is the property of of [[site]]. If you are reading this report on another site, it was illegally copied and republished in violation of international copyright and trademark legislation. The correct version of this report can be read at [[permalink]].

Separately, Zacks Investment Research upgraded Ophthotech Corporation from a “hold” rating to a “buy” rating and set a $3.25 price objective on the stock in a research note on Tuesday, May 2nd. Twelve investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $54.47.

In other news, Chairman David R. Guyer sold 17,678 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $2.58, for a total value of $45,609.24. Following the transaction, the chairman now owns 37,692 shares of the company’s stock, valued at $97,245.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 34,609 shares of company stock worth $89,249 in the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Ophthotech Corporation Company Profile

Ophthotech Corporation is a biopharmaceutical company. The Company is engaged in the development of therapeutics to treat ophthalmic diseases, with a focus on diseases of the back of the eye. Its primary focus is developing therapeutics for age-related macular degeneration (AMD), which is a disorder of the central portion of the retina, known as the macula, that may result in blindness.