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 $375,750 were sold by Westby Keith on Feb 17. At $25.05 per share, Westby Keith sold 15,000 shares. The insider’s holdings dropped to 46,354 shares worth approximately $1.13 million following the completion of this transaction.
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Also, Westby Keith sold 20,000 shares, netting a total of over 476,400 in proceeds. Following the sale of shares at $23.82 each, the insider now holds 46,354 shares.
Before that, Westby Keith had sold 20,000 shares from its account. In a trade valued at $460,600, the SVP, Chief Operating Officer traded IVERIC bio Inc. shares for $23.03 each. Upon closing the transaction, the insider’s holdings decreased to 20,000 shares, worth approximately $1.61 million.
As published in a research note from Jefferies on November 10, 2022, IVERIC bio Inc. [ISEE] has been rated down from a Buy to a Hold and the price target has been revised to $20 from $30. This represents a -21.5% premium over Wednesday’s closing price. Analysts at B. Riley Securities upgraded the stock from ‘”a Sell”‘ to ‘”a Neutral”‘ outlook in a report released in mid October. As of September 06, 2022, B. Riley Securities has decreased its “Neutral” rating to a “Sell” for ISEE. Earlier on August 02, 2022, UBS initiated its rating. Their recommendation was “a Buy” for ISEE stock.
Analyzing ISEE Stock Performance
On Wednesday, IVERIC bio Inc. [NASDAQ: ISEE] rose 16.94% to $24.30. The stock’s lowest price that day was $21.66, but it reached a high of $25.31 in the same session. During the last five days, there has been a surge of approximately 26.04%. Over the course of the year, IVERIC bio Inc. shares have jumped approximately 13.50%. Shares of the company reached a 52-week high of $26.35 on 02/17/23 and a 52-week low of $18.25 on 01/11/23. A 50-day SMA is recorded $21.13, while a 200-day SMA reached $16.82. Nevertheless, trading volume fell to 9.76 million shares from 1.04 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 22.20, which, if violated, would cause prices to drop to 20.11. In the upper region, resistance lies at 25.85. The next price resistance is at 27.41. RSI (Relative Strength Index) is 63.49 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.02, which suggests the price will increase in the coming days. Percent R is at 25.39%, indicating bullish 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 Jan 30, 2023 dropping by -0.59 million shares to 10.34 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 10.93 million shares. A decline of -5.71% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 6.03 of the overall float, the days-to-cover ratio (short ratio) decline to 6.03.
Which companies own the most shares of IVERIC bio Inc. (ISEE)?
According to The Vanguard Group, Inc. filings, the company currently owns 9,824,876 shares, which is about 7.33% of the total ISEE shares outstanding. The investor’s shares have appreciated by 3,978,079 from its previous 13-F filing of 5846797.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $202,305,873. Deep Track Capital LP acquire a 12.54% interest valued at $181.98 million while Avoro Capital Advisor LLC purchased a 850,000 stake. A total of 92,480 shares of IVERIC bio Inc. were bought by SSgA Funds Management, Inc. during the quarter, and 1,263,215 were bought by TCG Crossover Management LLC. In its current portfolio, T. Rowe Price Associates, Inc. holds 4,843,659 shares valued at $111.89 million.
In terms of IVERIC bio Inc. share price expectations, FactSet research, analysts set an average price target of $30.50 in the next 12 months, up nearly 56.4% from the previous closing price of $20.78. Analysts anticipate IVERIC bio Inc. stock to reach $35.00 by 2023, with the lowest price target being $19.00. In spite of this, 10 analysts ranked IVERIC bio Inc. stock as an Overweight at the end of 2023. On June 08, 2022, Guggenheim assigned a price target of “a Buy” to the stock and initiated coverage with a $30.