Axa S.A. Acquires New Stake in IVERIC bio, Inc. (NASDAQ:ISEE)

Posted by Defense World Staff on Mar 1st, 2023

Axa S.A. bought a new position in shares of IVERIC bio, Inc. (NASDAQ:ISEE – Get Rating) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 28,400 shares of the company’s stock, valued at approximately $509,000.

A number of other large investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in IVERIC bio by 563.0% in the first quarter. JPMorgan Chase & Co. now owns 541,865 shares of the company’s stock valued at $9,120,000 after acquiring an additional 460,137 shares during the period. Bank of New York Mellon Corp lifted its position in IVERIC bio by 8.1% during the 1st quarter. Bank of New York Mellon Corp now owns 487,001 shares of the company’s stock worth $8,196,000 after acquiring an additional 36,387 shares in the last quarter. HighTower Advisors LLC acquired a new position in shares of IVERIC bio in the 1st quarter valued at approximately $214,000. AlphaCrest Capital Management LLC acquired a new position in shares of IVERIC bio in the 1st quarter valued at approximately $449,000. Finally, MetLife Investment Management LLC increased its holdings in shares of IVERIC bio by 55.4% in the 1st quarter. MetLife Investment Management LLC now owns 62,622 shares of the company’s stock valued at $1,054,000 after acquiring an additional 22,329 shares during the last quarter.

Insider Buying and Selling at IVERIC bio

In related news, COO Keith Westby sold 10,030 shares of the firm’s stock in a transaction on Thursday, December 1st. The shares were sold at an average price of $22.96, for a total transaction of $230,288.80. Following the completion of the transaction, the chief operating officer now directly owns 59,759 shares of the company’s stock, valued at $1,372,066.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other IVERIC bio news, CEO Glenn Sblendorio sold 19,457 shares of IVERIC bio stock in a transaction that occurred on Monday, December 19th. The shares were sold at an average price of $21.51, for a total transaction of $418,520.07. Following the completion of the sale, the chief executive officer now directly owns 244,138 shares in the company, valued at approximately $5,251,408.38. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Keith Westby sold 10,030 shares of the business’s stock in a transaction on Thursday, December 1st. The shares were sold at an average price of $22.96, for a total transaction of $230,288.80. Following the completion of the transaction, the chief operating officer now owns 59,759 shares of the company’s stock, valued at $1,372,066.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 93,134 shares of company stock valued at $2,026,165. Insiders own 2.70% of the company’s stock.

Analyst Ratings Changes

ISEE has been the subject of several recent analyst reports. Jefferies Financial Group cut IVERIC bio from a “buy” rating to a “hold” rating and decreased their price target for the stock from $30.00 to $20.00 in a research note on Thursday, November 10th. B. Riley raised their price target on IVERIC bio from $17.00 to $19.00 and gave the company a “neutral” rating in a report on Tuesday, February 21st. Finally, HC Wainwright reissued a “buy” rating and issued a $35.00 target price on shares of IVERIC bio in a research note on Friday, February 17th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, IVERIC bio presently has an average rating of “Moderate Buy” and an average target price of $27.30.

IVERIC bio Trading Up 1.2 %

Shares of NASDAQ ISEE opened at $20.78 on Wednesday. The firm’s 50 day moving average price is $21.03 and its 200-day moving average price is $19.49. The company has a market cap of $2.51 billion, a PE ratio of -15.51 and a beta of 1.09. IVERIC bio, Inc. has a 52-week low of $8.85 and a 52-week high of $26.35. The company has a debt-to-equity ratio of 0.18, a quick ratio of 13.40 and a current ratio of 13.40.

IVERIC bio Company Profile

(Get Rating)

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.