IVERIC bio, Inc. (NASDAQ:ISEE) Short Interest Update

IVERIC bio, Inc. (NASDAQ:ISEE – Get Rating) was the recipient of a significant increase in short interest in February. As of February 28th, there was short interest totalling 10,080,000 shares, an increase of 5.9% from the February 13th total of 9,520,000 shares. Based on an average daily volume of 2,450,000 shares, the days-to-cover ratio is currently 4.1 days.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ISEE shares. HC Wainwright reiterated a “buy” rating and issued a $35.00 price target on shares of IVERIC bio in a report on Thursday, March 2nd. B. Riley raised their price objective on IVERIC bio from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $27.30.

IVERIC bio Stock Down 2.3 %

NASDAQ:ISEE opened at $23.53 on Friday. The company has a quick ratio of 18.63, a current ratio of 18.63 and a debt-to-equity ratio of 0.18. The stock’s fifty day moving average is $21.62 and its two-hundred day moving average is $20.42. IVERIC bio has a 52 week low of $8.85 and a 52 week high of $26.35. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of -15.48 and a beta of 1.09.

IVERIC bio (NASDAQ:ISEE – Get Rating) last posted its quarterly earnings data on Wednesday, March 1st. The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.10). During the same period last year, the firm earned ($0.29) earnings per share. Research analysts anticipate that IVERIC bio will post -1.68 EPS for the current year.

Insider Activity

In other IVERIC bio news, COO Keith Westby sold 6,740 shares of the company’s stock in a transaction dated Monday, December 19th. The stock was sold at an average price of $21.51, for a total value of $144,977.40. Following the completion of the sale, the chief operating officer now owns 81,084 shares in the company, valued at $1,744,116.84. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, COO Keith Westby sold 6,740 shares of the stock in a transaction dated Monday, December 19th. The stock was sold at an average price of $21.51, for a total transaction of $144,977.40. Following the completion of the sale, the chief operating officer now owns 81,084 shares in the company, valued at $1,744,116.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Glenn Sblendorio sold 19,457 shares of the stock in a transaction that occurred on Monday, December 19th. The shares were sold at an average price of $21.51, for a total value of $418,520.07. Following the transaction, the chief executive officer now directly owns 244,138 shares of the company’s stock, valued at $5,251,408.38. The disclosure for this sale can be found here. Insiders have sold a total of 93,765 shares of company stock valued at $2,079,385 over the last ninety days. 2.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On IVERIC bio

Several hedge funds have recently made changes to their positions in the company. State Street Corp grew its holdings in shares of IVERIC bio by 48.3% during the second quarter. State Street Corp now owns 8,733,590 shares of the company’s stock worth $84,017,000 after purchasing an additional 2,843,747 shares during the last quarter. BlackRock Inc. lifted its position in IVERIC bio by 0.9% in the third quarter. BlackRock Inc. now owns 8,125,064 shares of the company’s stock valued at $145,763,000 after purchasing an additional 75,466 shares during the period. Avoro Capital Advisors LLC lifted its position in IVERIC bio by 14.4% in the fourth quarter. Avoro Capital Advisors LLC now owns 6,750,000 shares of the company’s stock valued at $144,518,000 after purchasing an additional 850,000 shares during the period. Vanguard Group Inc. lifted its position in shares of IVERIC bio by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 6,116,761 shares of the company’s stock valued at $109,736,000 after acquiring an additional 134,845 shares during the period. Finally, Deerfield Management Company L.P. Series C lifted its position in shares of IVERIC bio by 6.6% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 5,214,000 shares of the company’s stock valued at $50,159,000 after acquiring an additional 322,004 shares during the period.

IVERIC bio Company Profile

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IVERIC bio, Inc operates as a biopharmaceutical company. The firm engages in discovering, developing and commercializing novel therapeutics to treat ophthalmic diseases, with a focus on age-related and orphan retinal diseases. Its product candidates include Zimura and Gene Therapy. The company was founded by David R.