Morgan Stanley is Buying Ophthotech Corp. (NASDAQ:OPHT) Shares

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In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Ophthotech Corp. (NASDAQ:OPHT) reported that Morgan Stanley has picked up 10,932,054 of common stock as of 2017-03-08.

The acquisition brings the aggregate amount owned by Morgan Stanley to a total of 10,932,054 representing a 6.1% stake in the company.

For those not familiar with the company, Ophthotech Corporation is a biopharmaceutical company. The Company specializes in the development of therapeutics to treat diseases of the back of the eye, with a focus on developing therapeutics for age-related macular degeneration (AMD). Its advanced product candidate is Fovista, which is for use in combination with anti-vascular endothelial growth factor (VEGF) drugs. It is also developing its product candidate Zimura for the treatment of patients with geographic atrophy, a form of dry AMD, in combination with VEGF therapy for the treatment of polypoidal choroidal vasculopathy (PCV). Fovista is being tested in Phase III clinical development. In addition, it has initiated additional clinical trials to evaluate the potential additional benefits of Fovista administered in combination with anti-VEGF drugs in wet AMD patients, known as Fovista Expansion Studies. Zimura has completed a small, multicenter, uncontrolled, open label Phase I/IIa clinical trial.

A glance at Ophthotech Corp. (NASDAQ:OPHT)’s key stats reveals a current market capitalization of 129.27 million based on 35.81 Million shares outstanding and a price at last close of $3.62 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 Bolte unload 6,000 shares at a sale price of $4.83. This brings their total holding to 0.

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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