Connor Clark & Lunn Investment Management Ltd. grew its holdings in Ophthotech Corp (NASDAQ:OPHT) by 19.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 881,887 shares of the biopharmaceutical company’s stock after acquiring an additional 141,900 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Ophthotech were worth $2,081,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of OPHT. Stonepine Capital Management LLC boosted its stake in shares of Ophthotech by 20.0% in the second quarter. Stonepine Capital Management LLC now owns 1,912,018 shares of the biopharmaceutical company’s stock worth $5,220,000 after acquiring an additional 318,899 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Ophthotech by 30.2% in the second quarter. BlackRock Inc. now owns 775,458 shares of the biopharmaceutical company’s stock worth $2,116,000 after acquiring an additional 179,924 shares during the last quarter. Spark Investment Management LLC boosted its stake in shares of Ophthotech by 25.1% in the second quarter. Spark Investment Management LLC now owns 536,300 shares of the biopharmaceutical company’s stock worth $1,464,000 after acquiring an additional 107,600 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Ophthotech by 53.9% in the second quarter. Dimensional Fund Advisors LP now owns 867,096 shares of the biopharmaceutical company’s stock worth $2,367,000 after acquiring an additional 303,825 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its stake in shares of Ophthotech by 4.5% in the third quarter. Acadian Asset Management LLC now owns 1,216,555 shares of the biopharmaceutical company’s stock worth $2,872,000 after acquiring an additional 52,287 shares during the last quarter. Institutional investors and hedge funds own 47.02% of the company’s stock.

Shares of NASDAQ:OPHT opened at $1.76 on Thursday. The company has a market capitalization of $76.76 million, a PE ratio of 0.56 and a beta of 1.16. Ophthotech Corp has a 1 year low of $1.75 and a 1 year high of $4.50.

Ophthotech (NASDAQ:OPHT) last issued its quarterly earnings results on Wednesday, October 31st. The biopharmaceutical company reported ($0.41) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.43) by $0.02. Research analysts predict that Ophthotech Corp will post -1.55 EPS for the current fiscal year.

A number of analysts have recently issued reports on the company. ValuEngine lowered Ophthotech from a “sell” rating to a “strong sell” rating in a research note on Tuesday, September 4th. Zacks Investment Research reaffirmed a “sell” rating on shares of Ophthotech in a research note on Wednesday, November 14th. Two investment analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $3.50.

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About Ophthotech

Ophthotech Corporation, a biopharmaceutical company, develops novel therapies to treat ophthalmic diseases, with a focus on age-related and orphan retinal diseases. The company is developing Zimura, an inhibitor of complement factor C5, for dry and wet forms of age-related macular degeneration, a disorder of the central portion of the retina known as the macula.

Further Reading: Stock Symbols and CUSIP Explained

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Institutional Ownership by Quarter for Ophthotech (NASDAQ:OPHT)

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