Sunday, June 26, 2022

Buying Buzz: IVERIC bio Inc. [ISEE] Director Roberts Calvin W. acquired 25,000 shares of the company

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. IVERIC bio Inc. shares valued at $240,500 were purchased by Roberts Calvin W. on Jun 13. At $9.62 per share, Roberts Calvin W. acquired 25,000 shares. The insider’s holdings grew to 32,500 shares worth approximately $0.31 million following the completion of this transaction.

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Also, Westby Keith sold 10,000 shares, netting a total of over 166,300 in proceeds. Following the sale of shares at $16.63 each, the insider now holds 99,128 shares.

Before that, Westby Keith had sold 9,298 shares from its account. In a trade valued at $176,808, the SVP & COO traded IVERIC bio Inc. shares for $19.02 each. Upon closing the transaction, the insider’s holdings decreased to 9,298 shares, worth approximately $1.04 million.

As published in their initiating research note from Guggenheim on June 08, 2022, IVERIC bio Inc. [ISEE] has been a Buy and the price target has been revised to $30. This represents a 68.1% premium over Wednesday’s closing price. Analysts at BofA Securities started covering the stock with ‘”a Buy”‘ outlook in a report released in early June. As of May 12, 2022, B. Riley Securities has initiated its “Neutral” rating for ISEE. Earlier on March 22, 2022, Jefferies initiated its rating. Their recommendation was “a Buy” for ISEE stock.

Analyzing ISEE’s Price Performance

On Wednesday, IVERIC bio Inc. [NASDAQ: ISEE] plunged -1.34% to $9.57. The stock’s lowest price that day was $9.46, but it reached a high of $9.936 in the same session. During the last five days, there has been a surge of approximately 1.48%. Over the course of the year, IVERIC bio Inc. shares have dropped approximately -42.76%. Shares of the company reached a 52-week high of $19.34 on 04/05/22 and a 52-week low of $8.85 on 06/13/22. A 50-day SMA is recorded $12.21, while a 200-day SMA reached $14.75. Nevertheless, trading volume fell to 1.53 million shares from 2.53 million shares the previous day.

Support And Resistance Levels for IVERIC bio Inc. (ISEE)

According to the 24-hour chart, there is a support level at 9.37, which, if violated, would cause prices to drop to 9.18. In the upper region, resistance lies at 9.85. The next price resistance is at 10.13. RSI (Relative Strength Index) is 40.47 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.56, which suggests the price will decrease in the coming days. Percent R is at 73.23%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

Which companies own the most shares of IVERIC bio Inc. (ISEE)?

According to BlackRock Fund Advisors filings, the company currently owns 7,650,706 shares, which is about 6.57% of the total ISEE shares outstanding. The investor’s shares have plunged by -62,105 from its previous 13-F filing of 7712811.0 shares. With the completion of the sale, Avoro Capital Advisor LLC’s stake is now worth $75,690,000. Avidity Partners Management LP reduced a -6.90% interest valued at $67.6 million while SSgA Funds Management, Inc. purchased a 104,692 stake. A total of 108,674 shares of IVERIC bio Inc. were bought by The Vanguard Group, Inc. during the quarter, and -1,254,585 were sold by Perceptive Advisors LLC. In its current portfolio, Yiheng Capital Management LP holds 5,058,585 shares valued at $52.81 million.

In terms of IVERIC bio Inc. share price expectations, FactSet research, analysts set an average price target of $24.00 in the next 12 months, up nearly 157.73% from the previous closing price of $9.70. Analysts anticipate IVERIC bio Inc. stock to reach $30.00 by 2022, with the lowest price target being $12.00. In spite of this, 11 analysts ranked IVERIC bio Inc. stock as a Buy at the end of 2022. On March 03, 2022, Robert W. Baird assigned a price target of “an Outperform” to the stock and initiated coverage with a $27.

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