Balyasny Asset Management LLC Purchases 1,180,342 Shares of IVERIC bio, Inc. (NASDAQ:ISEE)

Balyasny Asset Management LLC lifted its position in IVERIC bio, Inc. (NASDAQ:ISEE – Get Rating) by 234.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,683,235 shares of the company’s stock after acquiring an additional 1,180,342 shares during the quarter. Balyasny Asset Management LLC owned 1.39% of IVERIC bio worth $30,197,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Captrust Financial Advisors raised its holdings in shares of IVERIC bio by 14,900.0% in the first quarter. Captrust Financial Advisors now owns 1,500 shares of the company’s stock valued at $25,000 after acquiring an additional 1,490 shares in the last quarter. Vectors Research Management LLC bought a new stake in shares of IVERIC bio in the second quarter valued at about $29,000. Macquarie Group Ltd. grew its stake in IVERIC bio by 679.5% in the second quarter. Macquarie Group Ltd. now owns 8,005 shares of the company’s stock valued at $77,000 after purchasing an additional 6,978 shares during the last quarter. Great West Life Assurance Co. Can purchased a new position in IVERIC bio in the third quarter valued at about $85,000. Finally, Amundi purchased a new position in IVERIC bio in the second quarter valued at about $102,000.

Insider Buying and Selling

In related news, COO Keith Westby sold 20,000 shares of IVERIC bio stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $23.93, for a total transaction of $478,600.00. Following the completion of the sale, the chief operating officer now owns 39,652 shares of the company’s stock, valued at $948,872.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other IVERIC bio news, SVP Christopher Paul Simms sold 2,368 shares of the business’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $20.06, for a total value of $47,502.08. Following the completion of the transaction, the senior vice president now directly owns 32,429 shares of the company’s stock, valued at $650,525.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Keith Westby sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $23.93, for a total value of $478,600.00. Following the completion of the transaction, the chief operating officer now directly owns 39,652 shares of the company’s stock, valued at $948,872.36. The disclosure for this sale can be found here. Insiders sold 93,765 shares of company stock valued at $2,079,385 over the last quarter. 2.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. B. Riley lifted their target price on IVERIC bio from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Tuesday, February 21st. HC Wainwright reiterated a “buy” rating and issued a $35.00 target price on shares of IVERIC bio in a research note on Thursday, March 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, IVERIC bio currently has a consensus rating of “Moderate Buy” and an average target price of $27.30.

IVERIC bio Stock Performance

Shares of ISEE stock opened at $24.56 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 18.63 and a current ratio of 18.63. IVERIC bio, Inc. has a fifty-two week low of $8.85 and a fifty-two week high of $26.35. The stock’s 50-day simple moving average is $21.37 and its 200-day simple moving average is $20.27.

IVERIC bio (NASDAQ:ISEE – Get Rating) last released its earnings results on Wednesday, March 1st. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.10). During the same period in the previous year, the business earned ($0.29) earnings per share. As a group, sell-side analysts forecast that IVERIC bio, Inc. will post -1.68 EPS for the current year.

IVERIC bio 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.