James Litinsky is Bullish on Ophthotech Corp (OPHT); JHL Capital Boosts Stake in the Company

James H. Litinsky‘s JHL Capital Group has boosted its stake in Ophthotech Corp (NASDAQ:OPHT) to 1.78 million shares, a new filing with the SEC showed. Previously, JHL reported holding 245,000 shares of the company. In this way, following the increase, JHL’s stake in Ophthotech amasses 5.3% of the company’s common stock and has a value of around $57.48 million at the current price of the company.

Ophthotech

Ophthotech Corp (NASDAQ:OPHT) is a $1.0 billion market cap biopharmaceutical company engaged in the development of therapeutics to treat eye diseases. In February the company conducted a public offering, during which it sold around 2.63 million common shares at a price of $31.50 apiece. For the last year, Ophthotech reported EPS of -$6.34 per share, a slight improvement from -$14.89 in 2012. For the current year, the company is expected to report a net loss of -$3.51 per share.

During the fourth quarter of 2013, Peter Kolchinsky‘s Ra Capital Management also added Ophthotech Corp (NASDAQ:OPHT) to its equity portfolio, disclosing a stake with around 1.6 million shares. Jeremy Green‘s Redmile Group also initiated a stake, which, at the end of 2013, contained some 316,500 shares.

Insiders, on the other hand, have been reducing their holdings of Ophthotech Corp (NASDAQ:OPHT) shares. The president of the company, Chandrakant Samir Patel sold around 16,900 shares at the beginning of the month, reducing his exposure to some 117,800 shares. Bruce Peacock, CFO and CBO of the company, also sold some 6,200 shares, closing his stake in the company.

JHL Capital held a diversified equity portfolio worth over $1.1 billion at the end of 2013. The largest holding is represented by The New York Times Company (NYSE:NYT), in which the fund held almost 11.18 million shares, reportedly worth $117.35 million. In Howard Hughes Corp (NYSE:HHC), the fund held 750,500 shares, valued at $90.14 million.

Disclosure: none

Recommended Reading:

Berkshire Hathaway Adds 4.93 Mln Shares to Stake in USG Corporation (USG)

Shannon River Fund Management Reveals Increase In Its Holding Of PDF Solutions, Inc. (PDFS)

Mark Travis, Intrepid Capital Management Close Position In World Wrestling Entertainment, Inc. (WWE)

 

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

Best States To Practice Medicine

The 10 Best States to Have a Business

The 12 Most Expensive Apple (AAPL) Apps in the Market

The 10 Richest Billionaires in the World

10 Biggest Kickstarter Failures

The 10 Best Places to Work At

The Top 10 of Google Inc (GOOGL)’s Most Expensive Acquisitions

13 Best Cities to Visit in South America

10 Most Expensive Works of Art of All Time

The 10 Richest Banks in the World

The 10 Best-Paying Jobs in America (2014)

7 Most Expensive Foods in the World

The World’s Top 10 Earning Authors

Five Wicked and Very Expensive Items (and Other “Stuff”) Sold on eBay

10 Biggest Celebrity Bankruptcies

The Top 10 Highest Paid CEOs in 2014

The 10 Most Expensive Real Estate Cities in America

10 Most Expensive States To Live In America

The 10 Best Airlines in the World

The 10 Best-Selling Cars in 2014

The 10 Best Industries to Invest In

The 10 Most Expensive States to Own a Car In

Top 10 Business Schools in US: 2014 Rankings

Top 20 Female Billionaires in 2014

6 Movies That You Should Watch to Better Understand The Cold War

Top 15 Best Paying Jobs for Women in 2014

Top 6 Things Rich People Do Differently Every Day

5 Retirement Mistakes To Avoid (and Einstein’s Famous Quote)

11 Smartest People in the World

6 Films About the Financial World You Need To Watch (While “The Wolf” is Not Around)

Warren Buffett and Billionaires Are Crazy About These 7 Stocks

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top 6 Tax Scams and How to Protect Yourself

Top Businesses to Invest In

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!