Ophthotech Corporation (NASDAQ:OPHT) Makes Big Gains in the Market Today – Up $0.15

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The company is up by 5.91% since yesterday’s close of 2.54 and is one of the top gainers in today’s market. So far 321,387 shares have been traded.

It is trading at $2.69 barely below the 50 day moving average which is $2.73 and just below the 200 day moving average of $2.83. The 50 day moving average went down $-0.04 or -1.47% whereas the 200 day moving average was down $-0.14 or -5.11%.

Traders are feeling more bearish recently if you put credence in the motion in short interest. The stock realized a rise in short interest of 3.59% as of the latest report on August 31, 2017. Short interest grew from 2,612,584 to 2,706,269 over that timeframe. Days to cover decreased from 5.0 to 5.0 and the percentage of shorted shares was 0.08% on August 31.

The following firms have recently changed their position in OPHT. As of quarter end Tamarack Advisers, Lp had acquired a total of 153,851 shares growing its holdings by 32.7%. The value in dollars went from $1,724,000 to $1,600,000 a change of $124,000 quarter to quarter. As of the end of the quarter Squarepoint Ops LLC had sold 9,760 shares trimming its position 13.2%. The value of the investment in Ophthotech Corporation decreased from $270,000 to $164,000 decreasing 39.3% since the last quarter.

As of the end of the quarter Ubs Group Ag had sold a total of 109 shares trimming its stake by 13.0%. The value of the investment in (OPHT) went from $3,000 to $2,000 a change of 33.3% for the reporting period. As of quarter end Stonepine Capital Management, LLC had acquired 59,700 shares growing its holdings by 1.7%. The value of the company’s investment in Ophthotech Corporation decreased from $12,870,000 to $9,155,000 a change of 28.9% quarter over quarter.

As of the last earnings report the EPS was $-5.39 and is estimated to be $0.29 for the current year with 35,942,000 shares currently outstanding. Next quarter’s EPS is expected be $-0.71 with next year’s EPS projected to be $-2.21.

Ophthotech Corporation, launched on January 5, 2007, is a biopharmaceutical company. The Company is involved 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. Its product candidates include Fovista and Zimura..