Rubric Capital Management LP Increases Stock Holdings in OPKO Health, Inc. (NASDAQ:OPK)

Rubric Capital Management LP raised its position in OPKO Health, Inc. (NASDAQ:OPK - Free Report) by 9.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,706,640 shares of the biotechnology company's stock after buying an additional 4,284,336 shares during the quarter. OPKO Health makes up approximately 1.2% of Rubric Capital Management LP's portfolio, making the stock its 20th biggest position. Rubric Capital Management LP owned approximately 7.14% of OPKO Health worth $72,573,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of OPK. Assenagon Asset Management S.A. raised its position in OPKO Health by 142.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,490,992 shares of the biotechnology company's stock valued at $2,227,000 after purchasing an additional 876,272 shares during the last quarter. Y.D. More Investments Ltd purchased a new stake in shares of OPKO Health in the second quarter valued at about $1,840,000. PFG Investments LLC boosted its stake in shares of OPKO Health by 10.4% during the third quarter. PFG Investments LLC now owns 1,061,090 shares of the biotechnology company's stock worth $1,581,000 after buying an additional 100,125 shares during the period. Squarepoint Ops LLC purchased a new position in shares of OPKO Health during the second quarter worth about $592,000. Finally, Price T Rowe Associates Inc. MD increased its position in OPKO Health by 4.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 445,981 shares of the biotechnology company's stock valued at $536,000 after acquiring an additional 17,671 shares during the period. 64.63% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on OPK. HC Wainwright reiterated a "buy" rating and issued a $3.00 target price on shares of OPKO Health in a research note on Thursday, September 26th. Barrington Research reiterated an "outperform" rating and issued a $2.25 price objective on shares of OPKO Health in a research report on Friday, November 8th. Finally, Piper Sandler restated an "overweight" rating and set a $3.00 price objective on shares of OPKO Health in a research report on Tuesday, September 17th.

OPKO Health Stock Performance

Shares of OPK stock traded up $0.03 during trading hours on Wednesday, reaching $1.58. 4,395,126 shares of the company's stock were exchanged, compared to its average volume of 6,901,910. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.97 and a quick ratio of 2.69. The company's 50 day moving average is $1.52 and its two-hundred day moving average is $1.45. The company has a market cap of $1.08 billion, a P/E ratio of -8.16 and a beta of 1.65. OPKO Health, Inc. has a 1 year low of $0.85 and a 1 year high of $1.75.

Insider Buying and Selling

In related news, CEO Phillip Md Et Al Frost purchased 100,000 shares of OPKO Health stock in a transaction dated Thursday, November 14th. The stock was bought at an average cost of $1.62 per share, for a total transaction of $162,000.00. Following the transaction, the chief executive officer now owns 211,612,405 shares in the company, valued at approximately $342,812,096.10. The trade was a 0.05 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders have acquired 480,183 shares of company stock valued at $741,275 over the last quarter. Company insiders own 47.26% of the company's stock.

OPKO Health Company 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.