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 $138,060 were sold by Simms Christopher Paul on Aug 03. At $11.25 per share, Simms Christopher Paul sold 12,272 shares. The insider’s holdings dropped to 28,547 shares worth approximately $0.47 million following the completion of this transaction.
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Also, Gibney Anthony S sold 7,791 shares, netting a total of over 73,313 in proceeds. Following the sale of shares at $9.41 each, the insider now holds 10,959 shares.
Before that, Roberts Calvin W. had added 25,000 shares to its account. In a trade valued at $240,500, the Director bought IVERIC bio Inc. shares for $9.62 each. Upon closing the transaction, the insider’s holdings increased to 25,000 shares, worth approximately $0.54 million.
As published in a research note from B. Riley Securities on September 06, 2022, IVERIC bio Inc. [ISEE] has been rated down from a Neutral to a Sell and the price target has been revised to $8 from $12. This represents a -107.75% premium over Wednesday’s closing price. Analysts at UBS started covering the stock with ‘”a Buy”‘ outlook in a report released in early August. As of June 08, 2022, Guggenheim has initiated its “Buy” rating for ISEE. Earlier on June 08, 2022, BofA Securities initiated its rating. Their recommendation was “a Buy” for ISEE stock.
Analyzing ISEE’s Price Performance
On Wednesday, IVERIC bio Inc. [NASDAQ: ISEE] plunged -4.10% to $16.62. The stock’s lowest price that day was $16.585, but it reached a high of $17.83 in the same session. During the last five days, there has been a drop of approximately -9.87%. Over the course of the year, IVERIC bio Inc. shares have dropped approximately -0.60%. Shares of the company reached a 52-week high of $20.99 on 09/09/22 and a 52-week low of $8.85 on 06/13/22. A 50-day SMA is recorded $13.02, while a 200-day SMA reached $13.58. Nevertheless, trading volume fell to 3.39 million shares from 2.27 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 16.19, which, if violated, would cause prices to drop to 15.77. In the upper region, resistance lies at 17.44. The next price resistance is at 18.26. RSI (Relative Strength Index) is 60.05 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.82, which suggests the price will decrease in the coming days. Percent R is at 37.67%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is IVERIC bio Inc. subject to short interest?
Stocks of IVERIC bio Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -1.32 million shares to 7.45 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 8.77 million shares. A decline of -17.72% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.31 of the overall float, the days-to-cover ratio (short ratio) decline to 3.31.
Which companies own the most shares of IVERIC bio Inc. (ISEE)?
According to SSgA Funds Management, Inc. filings, the company currently owns 8,733,590 shares, which is about 7.40% of the total ISEE shares outstanding. The investor’s shares have appreciated by 2,843,747 from its previous 13-F filing of 5889843.0 shares. With the completion of the buy transaction, Janus Henderson Investors US LLC’s stake is now worth $80,029,173. BlackRock Fund Advisors reduced a -4.66% interest valued at $71.78 million while Avoro Capital Advisor LLC sold a -130,000 stake. A total of 111,037 shares of IVERIC bio Inc. were sold by The Vanguard Group, Inc. during the quarter, and 322,004 were bought by Deerfield Management Co. LP. In its current portfolio, Yiheng Capital Management LP holds 5,058,585 shares valued at $49.78 million.
In terms of IVERIC bio Inc. share price expectations, FactSet research, analysts set an average price target of $26.67 in the next 12 months, up nearly 64.45% from the previous closing price of $17.33. Analysts anticipate IVERIC bio Inc. stock to reach $35.00 by 2022, with the lowest price target being $8.00. In spite of this, 12 analysts ranked IVERIC bio Inc. stock as a Buy at the end of 2022. On May 12, 2022, B. Riley Securities assigned a price target of “a Neutral” to the stock and initiated coverage with a $12.