US Bancorp DE decreased its stake in shares of Ophthotech Corporation (NASDAQ:OPHT) by 2.6% during the first quarter, Holdings Channel reports. The fund owned 64,700 shares of the biopharmaceutical company’s stock after selling 1,704 shares during the period. US Bancorp DE’s holdings in Ophthotech Corporation were worth $237,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Bogle Investment Management L P DE bought a new position in Ophthotech Corporation during the fourth quarter valued at approximately $6,179,000. Acadian Asset Management LLC bought a new position in Ophthotech Corporation during the first quarter valued at approximately $2,157,000. State Street Corp boosted its position in Ophthotech Corporation by 37.2% in the fourth quarter. State Street Corp now owns 1,556,192 shares of the biopharmaceutical company’s stock valued at $7,512,000 after buying an additional 421,671 shares during the last quarter. Guggenheim Capital LLC boosted its position in Ophthotech Corporation by 658.3% in the fourth quarter. Guggenheim Capital LLC now owns 418,720 shares of the biopharmaceutical company’s stock valued at $2,022,000 after buying an additional 363,503 shares during the last quarter. Finally, Numeric Investors LLC bought a new position in Ophthotech Corporation during the fourth quarter valued at approximately $1,252,000. 80.97% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Ophthotech Corporation (NASDAQ:OPHT)

Ophthotech Corporation (NASDAQ:OPHT) opened at 2.62 on Friday. Ophthotech Corporation has a 52-week low of $2.24 and a 52-week high of $65.96. The stock’s 50 day moving average is $2.57 and its 200 day moving average is $5.73. The company’s market cap is $93.93 million.

Ophthotech Corporation (NASDAQ:OPHT) last announced its quarterly earnings data on Wednesday, May 3rd. The biopharmaceutical company reported ($1.20) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.31) by $0.11. The firm had revenue of $1.66 million during the quarter, compared to analysts’ expectations of $1.94 million. Ophthotech Corporation had a negative return on equity of 916.07% and a negative net margin of 543.40%. Equities research analysts forecast that Ophthotech Corporation will post ($4.04) earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: This report was posted by Watch List News and is the property of of Watch List News. If you are reading this report on another publication, it was illegally stolen and republished in violation of US and international trademark & copyright law. The original version of this report can be accessed at https://www.watchlistnews.com/us-bancorp-de-sells-1704-shares-of-ophthotech-corporation-opht/1371952.html.

Separately, Zacks Investment Research raised shares of Ophthotech Corporation from a “hold” rating to a “buy” rating and set a $3.25 target price on the stock in a research note on Tuesday, May 2nd. Twelve equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $53.53.

In other Ophthotech Corporation news, CFO Glenn Sblendorio sold 7,388 shares of the business’s stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $3.56, for a total transaction of $26,301.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.00% of the company’s stock.

About Ophthotech Corporation

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.

Want to see what other hedge funds are holding OPHT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ophthotech Corporation (NASDAQ:OPHT).

Receive News & Ratings for Ophthotech Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ophthotech Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.