OPKO Health (NASDAQ:OPK) Sees Unusually-High Trading Volume - Here's Why

OPKO Health, Inc. (NASDAQ:OPK - Get Free Report) saw an uptick in trading volume on Monday . 4,977,027 shares were traded during trading, an increase of 178% from the previous session's volume of 1,793,125 shares.The stock last traded at $1.46 and had previously closed at $1.48.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. StockNews.com downgraded shares of OPKO Health from a "hold" rating to a "sell" rating in a research report on Thursday, December 26th. Barrington Research reiterated an "outperform" rating and set a $2.25 price objective on shares of OPKO Health in a report on Friday, November 8th. HC Wainwright reaffirmed a "buy" rating and set a $3.00 target price on shares of OPKO Health in a research report on Thursday, September 26th. Finally, Piper Sandler reissued an "overweight" rating and issued a $3.00 price target on shares of OPKO Health in a report on Tuesday, September 17th.

OPKO Health Trading Down 2.0 %

The stock has a 50-day simple moving average of $1.55 and a 200 day simple moving average of $1.49. The company has a current ratio of 2.97, a quick ratio of 2.69 and a debt-to-equity ratio of 0.30. The company has a market cap of $989.60 million, a price-to-earnings ratio of -7.63 and a beta of 1.63.

Insiders Place Their Bets

In other news, CEO Phillip Md Et Al Frost acquired 125,000 shares of the company's stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average price of $1.59 per share, with a total value of $198,750.00. Following the completion of the acquisition, the chief executive officer now owns 212,536,477 shares of the company's stock, valued at $337,932,998.43. This trade represents a 0.06 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last ninety days, insiders acquired 1,304,255 shares of company stock valued at $2,024,605. 47.26% of the stock is owned by insiders.

Institutional Trading of OPKO Health

Several hedge funds have recently made changes to their positions in OPK. Rubric Capital Management LP raised its holdings in OPKO Health by 9.6% in the 3rd quarter. Rubric Capital Management LP now owns 48,706,640 shares of the biotechnology company's stock valued at $72,573,000 after buying an additional 4,284,336 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of OPKO Health by 142.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,490,992 shares of the biotechnology company's stock worth $2,227,000 after purchasing an additional 876,272 shares during the period. Squarepoint Ops LLC acquired a new position in OPKO Health during the second quarter worth $592,000. Y.D. More Investments Ltd purchased a new position in shares of OPKO Health during the second quarter worth $1,840,000. Finally, BNP Paribas Financial Markets grew its stake in shares of OPKO Health by 736.7% in the third quarter. BNP Paribas Financial Markets now owns 246,967 shares of the biotechnology company's stock valued at $368,000 after buying an additional 217,450 shares in the last quarter. Hedge funds and other institutional investors own 64.63% of the company's stock.

About OPKO Health

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.