Stick With IVERIC bio Inc. (NASDAQ: ISEE). The Bull Are Alive And Well


RTW Investments LP recently announced the acquisition of new stake in IVERIC bio Inc. (NASDAQ:ISEE). This fresh investment now brings its stake to 7.24% valued currently at $31.22 million. In addition, Deerfield Management Company LP raised its holdings by 3.5 million to 5.77 million shares. And BML Capital Management LLC has lifted its position by 29.46% or 0.82 million shares – to 3.63 million shares.

With over 0.47 million IVERIC bio Inc. (ISEE) shares trading Wednesday and a closing price of $4.48 on the day, the dollar volume was approximately $2.12 million. The shares have shown a negative weekly performance of -9.13% and its price on 07/15/20 gained nearly 2.99%. Currently, there are 53.43M common shares owned by the public and among those 43.12M shares have been available to trade.

Incidentally, analysts’ outlook for the IVERIC bio Inc. stock is 1.50 for the next 12 months.

Insiders at the company have transacted a total of 18 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 11 of these insider trades were purchases, accounting for 210,132 shares. Insider sales of the common stock occurred on 7 occasions, with total insider shares sold totaling 3,501,565 shares.

The top 3 mutual fund holders in IVERIC bio Inc. are Vanguard Total Stock Market Index, iShares Russell 2000 ETF, and Invesco Health Care Fund. Vanguard Total Stock Market Index owns 1.97 million shares of the company’s stock, all valued at over $10.06 million. The company bought an additional 0.28 million shares recently to bring their total holdings to about 2.34% of the shares outstanding. iShares Russell 2000 ETF sold 23994.0 shares to see its total holdings shrink to 0.95 million shares valued at over $4.82 million and representing 1.12% of the shares outstanding. Invesco Health Care Fund sold 63997.0 shares to bring its total holdings to over 0.64 million shares at a value of $3.28 million. Invesco Health Care Fund now owns shares totaling to 0.76% of the shares outstanding.

Shares of IVERIC bio Inc. (NASDAQ: ISEE) opened at $4.46, up $0.11 from a prior closing price of $4.35. However, the script later closed the day at $4.48, up 2.99%. The company’s stock has a 5-day price change of -9.13% and 19.79% over the past three months. ISEE shares are trading -47.79% year to date (YTD), with the 12-month market performance up to 261.29% higher. It has a 12-month low price of $0.91 and touched a high of $8.97 over the same period. Currently, 0.47 million shares have been traded, compared to an average intraday trading volume of 1.09 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -14.70%, -0.57%, and -0.32% respectively.

Institutional ownership of IVERIC bio Inc. (NASDAQ: ISEE) shares accounts for 62.60% of the company’s 53.43M shares outstanding. Mutual fund holders own 46.07%, while other institutional holders and individual stakeholders account for 7.56% and 2.46% respectively.

It has a market capitalization of $431.38M and a beta (3y monthly) value of 2.17. The earnings-per-share (ttm) stands at -$1.37. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.93% over the week and 9.63% over the month.

Analysts forecast that IVERIC bio Inc. (ISEE) will achieve an EPS of -$0.31 for the current quarter, -$0.27 for the next quarter and -$1.11 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.31 while analysts give the company a high EPS estimate of -$0.31. Comparatively, EPS for the current quarter was -$0.53 a year ago. Earnings per share for the fiscal year are expected to decrease by -181.90%, and 5.90% over the next financial year.

Looking at the support for the ISEE, a number of firms have released research notes about the stock. Cowen stated their Outperform rating for the stock in a research note on January 24, 2020, with the firm’s price target at $15. Wedbush coverage for the IVERIC bio Inc. (ISEE) stock in a research note released on January 07, 2020 offered a Outperform rating with a price target of.


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