D E Shaw is Buying Ophthotech Corp. (NASDAQ:OPHT) Shares


In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Ophthotech Corp. (NASDAQ:OPHT) reported that D E Shaw has picked up 1,805,361 of common stock as of 2017-05-22.

The acquisition brings the aggregate amount owned by D E Shaw to a total of 1,805,361 representing less than 5.0% stake in the company.

For those not familiar with the company, 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. Its product candidates include Fovista and Zimura. Fovista is designed to target platelet derived growth factor (PDGF) in combination with anti-vascular endothelial growth factor (VEGF) drugs to disrupt the formation of abnormal new blood vessels in wet AMD. Zimura targets complement factor C5, a central component of the complement cascade. The Company has initiated a Phase II/III clinical trial investigating Zimura for treatment of geographic atrophy.

A glance at Ophthotech Corp. (NASDAQ:OPHT)’s key stats reveals a current market capitalization of 87.50 Million based on 35.85 Million shares outstanding and a price at last close of $2.51 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2016-06-03, Bolte picked up 3,500 at a purchase price of $56.97. This brings their total holding to 6,000 as of the date of the filing.

On the sell side, the most recent transaction saw Sblendorio unload 7,388 shares at a sale price of $3.56. This brings their total holding to 11,572.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Ophthotech Corp. (NASDAQ:OPHT) as things move forward to see if its progress aligns with these transactions.

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