Rubric Capital Management LP Acquires 4,284,336 Shares of OPKO Health, Inc. (NASDAQ:OPK)

Rubric Capital Management LP grew its stake in OPKO Health, Inc. (NASDAQ:OPK) by 9.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,706,640 shares of the biotechnology company’s stock after acquiring an additional 4,284,336 shares during the period. OPKO Health accounts for approximately 1.2% of Rubric Capital Management LP’s holdings, making the stock its 20th largest position. Rubric Capital Management LP owned approximately 7.14% of OPKO Health worth $72,573,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. CIBC Asset Management Inc raised its position in OPKO Health by 79.1% during the second quarter. CIBC Asset Management Inc now owns 20,322 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 8,978 shares in the last quarter. Virtu Financial LLC acquired a new stake in OPKO Health in the 1st quarter valued at about $26,000. FMR LLC lifted its stake in OPKO Health by 103.6% in the 3rd quarter. FMR LLC now owns 21,795 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 11,089 shares during the last quarter. Algert Global LLC bought a new position in OPKO Health during the second quarter worth about $44,000. Finally, Private Advisor Group LLC increased its position in OPKO Health by 242.7% during the third quarter. Private Advisor Group LLC now owns 35,301 shares of the biotechnology company’s stock worth $53,000 after buying an additional 25,000 shares during the last quarter. Institutional investors and hedge funds own 64.63% of the company’s stock.

Insider Transactions at OPKO Health

In other news, CEO Phillip Md Et Al Frost acquired 280,183 shares of OPKO Health stock in a transaction on Friday, November 8th. The shares were purchased at an average cost of $1.50 per share, for a total transaction of $420,274.50. Following the completion of the purchase, the chief executive officer now directly owns 211,512,405 shares of the company’s stock, valued at approximately $317,268,607.50. This represents a 0.13 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have acquired 480,183 shares of company stock valued at $741,275. 47.26% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on OPK. HC Wainwright reissued a “buy” rating and set a $3.00 target price on shares of OPKO Health in a report on Thursday, September 26th. Barrington Research reiterated an “outperform” rating and issued a $2.25 price objective on shares of OPKO Health in a report on Friday, November 8th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $3.00 target price on shares of OPKO Health in a report on Tuesday, September 17th.

OPKO Health Stock Down 4.3 %

Shares of NASDAQ OPK opened at $1.55 on Wednesday. The company has a quick ratio of 2.69, a current ratio of 2.97 and a debt-to-equity ratio of 0.30. The stock’s fifty day moving average price is $1.52 and its two-hundred day moving average price is $1.45. OPKO Health, Inc. has a one year low of $0.85 and a one year high of $1.75.

OPKO Health Profile

OPKO Health, Inc, a healthcare company, engages in the diagnostics and pharmaceuticals businesses in the United States, Ireland, Chile, Spain, Israel, Mexico, and internationally. The company's Diagnostics segment operates BioReference Laboratories that offers laboratory testing services for the detection, diagnosis, evaluation, monitoring, and treatment of diseases, including esoteric testing, molecular diagnostics, anatomical pathology, genetics, women's health, and correctional healthcare to physician offices, clinics, hospitals, employers, and governmental units; and 4Kscore prostate cancer test.