CNA Financial Corp grew its stake in Aerie Pharmaceuticals Inc (NASDAQ:AERI) by 499.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 176,525 shares of the company’s stock after purchasing an additional 147,094 shares during the quarter. CNA Financial Corp owned about 0.38% of Aerie Pharmaceuticals worth $3,393,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. Tower Research Capital LLC TRC increased its holdings in Aerie Pharmaceuticals by 2,330.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,458 shares of the company’s stock worth $43,000 after purchasing an additional 1,398 shares in the last quarter. Endurance Wealth Management Inc. grew its holdings in shares of Aerie Pharmaceuticals by 173.7% in the 3rd quarter. Endurance Wealth Management Inc. now owns 2,600 shares of the company’s stock valued at $50,000 after acquiring an additional 1,650 shares in the last quarter. NumerixS Investment Technologies Inc bought a new position in shares of Aerie Pharmaceuticals in the 2nd quarter valued at about $115,000. Bank of Montreal Can grew its holdings in shares of Aerie Pharmaceuticals by 497.8% in the 2nd quarter. Bank of Montreal Can now owns 4,023 shares of the company’s stock valued at $119,000 after acquiring an additional 3,350 shares in the last quarter. Finally, First Mercantile Trust Co. bought a new position in shares of Aerie Pharmaceuticals in the 2nd quarter valued at about $134,000.
NASDAQ:AERI traded down $0.34 during mid-day trading on Wednesday, hitting $18.54. The stock had a trading volume of 6,406 shares, compared to its average volume of 893,679. Aerie Pharmaceuticals Inc has a twelve month low of $17.51 and a twelve month high of $50.10. The stock has a market cap of $890.76 million, a price-to-earnings ratio of -3.98 and a beta of 0.51. The company’s 50 day simple moving average is $20.79 and its 200 day simple moving average is $27.08. The company has a debt-to-equity ratio of 0.94, a quick ratio of 5.23 and a current ratio of 5.43.
AERI has been the subject of several analyst reports. Oppenheimer decreased their price objective on Aerie Pharmaceuticals from $45.00 to $25.00 in a report on Thursday, November 7th. ValuEngine cut Aerie Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, November 4th. HC Wainwright decreased their price objective on Aerie Pharmaceuticals from $55.00 to $41.00 and set a “buy” rating for the company in a report on Thursday, November 7th. BidaskClub upgraded Aerie Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 30th. Finally, Mizuho restated a “buy” rating and issued a $54.00 price objective (down previously from $63.00) on shares of Aerie Pharmaceuticals in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the stock. Aerie Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $43.33.
In related news, major shareholder Foresite Capital Fund Ii, L.P. acquired 46,153 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was purchased at an average cost of $23.45 per share, for a total transaction of $1,082,287.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Foresite Capital Management Ii acquired 100,000 shares of the business’s stock in a transaction on Friday, August 16th. The shares were bought at an average price of $24.23 per share, with a total value of $2,423,000.00. The disclosure for this purchase can be found here. Insiders purchased a total of 273,143 shares of company stock valued at $6,085,038 over the last quarter. 8.71% of the stock is currently owned by company insiders.
Aerie Pharmaceuticals Profile
Aerie Pharmaceuticals, Inc, an ophthalmic pharmaceutical company, focuses on the discovery, development, and commercialization of first-in-class therapies for the treatment of glaucoma, retinal diseases, and other eye diseases. Its lead product is Rhopressa, a once-daily eye drop to reduce elevated intraocular pressure (IOP) in patients with glaucoma or ocular hypertension.
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