Verition Fund Management LLC Invests $203,000 in IVERIC bio, Inc. (NASDAQ:ISEE)

Verition Fund Management LLC purchased a new position in shares of IVERIC bio, Inc. (NASDAQ:ISEE – Get Rating) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 11,315 shares of the company’s stock, valued at approximately $203,000.

Several other hedge funds have also recently modified their holdings of the stock. Ergoteles LLC acquired a new position in shares of IVERIC bio during the 3rd quarter worth about $682,000. Samlyn Capital LLC acquired a new stake in IVERIC bio in the 3rd quarter valued at about $21,536,000. Centiva Capital LP acquired a new stake in IVERIC bio in the 3rd quarter valued at about $259,000. Moore Capital Management LP acquired a new stake in IVERIC bio in the 3rd quarter valued at about $4,305,000. Finally, Nuveen Asset Management LLC raised its holdings in IVERIC bio by 38.8% in the 3rd quarter. Nuveen Asset Management LLC now owns 1,423,655 shares of the company’s stock valued at $25,540,000 after acquiring an additional 397,709 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ISEE. HC Wainwright reiterated a “buy” rating and issued a $35.00 price objective on shares of IVERIC bio in a report on Thursday, March 2nd. B. Riley increased their price target on shares of IVERIC bio from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Tuesday, February 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, IVERIC bio presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.30.

IVERIC bio Stock Performance

Shares of ISEE stock opened at $21.56 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. IVERIC bio, Inc. has a 52 week low of $8.85 and a 52 week high of $26.35. The stock has a market capitalization of $2.96 billion, a PE ratio of -14.18 and a beta of 1.09. The firm has a 50 day moving average of $21.26 and a two-hundred day moving average of $19.97.

IVERIC bio (NASDAQ:ISEE – Get Rating) last announced 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 quarter last year, the business posted ($0.29) EPS. On average, research analysts predict that IVERIC bio, Inc. will post -1.68 EPS for the current fiscal year.

Insider Activity

In other IVERIC bio news, SVP Christopher Paul Simms sold 2,368 shares of IVERIC bio stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $20.06, for a total value of $47,502.08. Following the transaction, the senior vice president now directly owns 32,429 shares in the company, valued at $650,525.74. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, COO Keith Westby sold 20,000 shares of IVERIC bio stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $23.93, for a total value of $478,600.00. Following the sale, the chief operating officer now owns 39,652 shares of the company’s stock, valued at $948,872.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Christopher Paul Simms sold 2,368 shares of IVERIC bio stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $20.06, for a total transaction of $47,502.08. Following the completion of the sale, the senior vice president now directly owns 32,429 shares in the company, valued at approximately $650,525.74. The disclosure for this sale can be found here. In the last three months, insiders have sold 103,104 shares of company stock worth $2,274,476. 2.70% of the stock is currently owned by corporate insiders.

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.