E Fund Management Co. Ltd. Makes New Investment in IVERIC bio, Inc. (NASDAQ:ISEE)

E Fund Management Co. Ltd. bought a new position in IVERIC bio, Inc. (NASDAQ:ISEE) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 6,481 shares of the company’s stock, valued at approximately $40,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Janney Montgomery Scott LLC purchased a new position in IVERIC bio during the 4th quarter valued at $346,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in IVERIC bio during the 4th quarter valued at $133,000. State of Wisconsin Investment Board increased its position in IVERIC bio by 55.3% during the 4th quarter. State of Wisconsin Investment Board now owns 113,200 shares of the company’s stock valued at $782,000 after purchasing an additional 40,300 shares during the period. Monarch Partners Asset Management LLC purchased a new position in IVERIC bio during the 4th quarter valued at $620,000. Finally, SG Americas Securities LLC purchased a new position in IVERIC bio during the 4th quarter valued at $108,000. 88.99% of the stock is currently owned by institutional investors.

Separately, Zacks Investment Research upgraded shares of IVERIC bio from a “sell” rating to a “hold” rating in a report on Tuesday, May 11th.

In related news, EVP Pravin Dugel sold 28,301 shares of the company’s stock in a transaction dated Monday, April 5th. The shares were sold at an average price of $6.34, for a total value of $179,428.34. Following the transaction, the executive vice president now owns 50,000 shares in the company, valued at approximately $317,000. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 4.10% of the company’s stock.

Shares of ISEE stock opened at $6.54 on Friday. IVERIC bio, Inc. has a 12 month low of $3.72 and a 12 month high of $7.98. The company has a market cap of $589.71 million, a PE ratio of -5.69 and a beta of 1.68. The firm’s fifty day simple moving average is $6.58.

IVERIC bio (NASDAQ:ISEE) last announced its earnings results on Tuesday, May 4th. The company reported ($0.29) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.25) by ($0.04). As a group, sell-side analysts forecast that IVERIC bio, Inc. will post -0.85 earnings per share for the current year.

IVERIC bio Profile

IVERIC bio, Inc, a biopharmaceutical company, develops novel therapies to treat ophthalmic diseases with a focus on age-related and orphan inherited retinal diseases (IRDs). The company is developing Zimura, an inhibitor of complement factor C5 comprising GATHER1, which has completed Phase 2/3 clinical trial; and GATHER2 that is in Phase 3 clinical trial for the treatment of geographic atrophy (GA) secondary to dry age-related macular degeneration (AMD).

Read More: What Is an EV Stock?

Institutional Ownership by Quarter for IVERIC bio (NASDAQ:ISEE)

Receive News & Ratings for IVERIC bio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IVERIC bio and related companies with MarketBeat.com's FREE daily email newsletter.