Walleye Capital LLC Sells 128,144 Shares of OptimizeRx Corp. $OPRX

Key Points

• Walleye Capital LLC has significantly reduced its stake in OptimizeRx Corp. by 92.5%, leaving it with approximately 10,431 shares valued at $90,000.
• Several other institutional investors have increased their stakes, with Whetstone Capital Advisors LLC raising its investment by 11.7%.
• OptimizeRx has received positive ratings from analysts, including an upgrade from Wall Street Zen from "hold" to "buy," and an increased target price from $14.00 to $20.00 by JMP Securities.

Walleye Capital LLC cut its stake in OptimizeRx Corp. (NASDAQ:OPRX - Free Report) by 92.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,431 shares of the company's stock after selling 128,144 shares during the quarter. Walleye Capital LLC owned 0.06% of OptimizeRx worth $90,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. American Century Companies Inc. raised its stake in shares of OptimizeRx by 9.6% in the first quarter. American Century Companies Inc. now owns 15,783 shares of the company's stock worth $137,000 after purchasing an additional 1,387 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of OptimizeRx by 2.1% in the first quarter. Bank of New York Mellon Corp now owns 89,538 shares of the company's stock worth $775,000 after purchasing an additional 1,826 shares during the last quarter. Rhumbline Advisers raised its stake in shares of OptimizeRx by 10.5% in the first quarter. Rhumbline Advisers now owns 27,785 shares of the company's stock worth $241,000 after purchasing an additional 2,636 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of OptimizeRx by 33.3% in the fourth quarter. Wells Fargo & Company MN now owns 11,208 shares of the company's stock worth $54,000 after purchasing an additional 2,797 shares during the last quarter. Finally, Barclays PLC raised its stake in shares of OptimizeRx by 13.5% in the fourth quarter. Barclays PLC now owns 30,574 shares of the company's stock worth $148,000 after purchasing an additional 3,640 shares during the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other OptimizeRx news, Director Patrick D. Spangler sold 11,120 shares of the stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $17.49, for a total transaction of $194,488.80. Following the completion of the transaction, the director directly owned 44,215 shares of the company's stock, valued at approximately $773,320.35. This represents a 20.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.60% of the company's stock.

OptimizeRx Stock Performance

NASDAQ OPRX traded up $1.27 on Thursday, hitting $18.83. 374,064 shares of the stock traded hands, compared to its average volume of 330,780. The business's fifty day moving average is $15.29 and its two-hundred day moving average is $11.75. OptimizeRx Corp. has a 12 month low of $3.78 and a 12 month high of $19.25. The firm has a market capitalization of $349.67 million, a price-to-earnings ratio of -34.87 and a beta of 1.20. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.57 and a current ratio of 2.57.

Analysts Set New Price Targets

A number of analysts recently commented on OPRX shares. Roth Capital reaffirmed a "buy" rating on shares of OptimizeRx in a research report on Friday, August 8th. JMP Securities increased their price target on OptimizeRx from $14.00 to $20.00 and gave the company a "market outperform" rating in a research report on Monday, August 11th. Stifel Nicolaus increased their price target on OptimizeRx from $16.00 to $18.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Zacks Research raised OptimizeRx from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 5th. Finally, Wall Street Zen raised OptimizeRx from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $11.81.

About OptimizeRx

OptimizeRx Corporation, a digital health technology company, enables care-focused engagement between life sciences organizations, healthcare providers, and patients at critical junctures throughout the patient care journey. It offers various tech-enabled marketing solutions through its Artificial Intelligence-generated Dynamic Audience and Activation Platform, which enables customers to execute traditional marketing campaigns on its proprietary digital point-of-care network, as well as dynamic marketing campaigns that optimize audiences in real time to increase the value of treatment information for healthcare professionals and patients in response to clinical care events.