BNP Paribas Arbitrage SA Sells 27,426 Shares of IVERIC bio, Inc. (NASDAQ:ISEE)

BNP Paribas Arbitrage SA reduced its stake in IVERIC bio, Inc. (NASDAQ:ISEE) by 81.6% in the second quarter, Holdings Channel.com reports. The institutional investor owned 6,198 shares of the company’s stock after selling 27,426 shares during the period. BNP Paribas Arbitrage SA’s holdings in IVERIC bio were worth $39,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in shares of IVERIC bio by 4.4% during the first quarter. BlackRock Inc. now owns 7,059,634 shares of the company’s stock valued at $43,628,000 after buying an additional 295,366 shares during the last quarter. Perceptive Advisors LLC raised its position in IVERIC bio by 2.3% in the first quarter. Perceptive Advisors LLC now owns 4,585,512 shares of the company’s stock worth $28,338,000 after acquiring an additional 102,799 shares during the period. Yiheng Capital Management L.P. raised its position in IVERIC bio by 1,665.7% in the first quarter. Yiheng Capital Management L.P. now owns 2,784,083 shares of the company’s stock worth $17,206,000 after acquiring an additional 2,626,407 shares during the period. Price T Rowe Associates Inc. MD raised its position in IVERIC bio by 0.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,163,192 shares of the company’s stock worth $13,369,000 after acquiring an additional 9,520 shares during the period. Finally, Acuta Capital Partners LLC raised its position in shares of IVERIC bio by 30.2% during the 1st quarter. Acuta Capital Partners LLC now owns 1,579,093 shares of the company’s stock valued at $9,759,000 after purchasing an additional 366,593 shares during the period. 81.76% of the stock is owned by institutional investors.

NASDAQ:ISEE opened at $16.43 on Thursday. IVERIC bio, Inc. has a one year low of $4.96 and a one year high of $18.07. The firm has a market cap of $1.71 billion, a P/E ratio of -14.29 and a beta of 1.31. The firm has a 50-day simple moving average of $12.82 and a 200-day simple moving average of $9.12.

IVERIC bio (NASDAQ:ISEE) last posted its quarterly earnings results on Tuesday, August 3rd. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.06). Sell-side analysts expect that IVERIC bio, Inc. will post -1.18 EPS for the current fiscal year.

ISEE has been the subject of several research analyst reports. Credit Suisse Group raised their target price on shares of IVERIC bio from $15.00 to $18.00 and gave the company an “outperform” rating in a research note on Friday, September 10th. HC Wainwright reissued a “buy” rating and issued a $20.00 price objective on shares of IVERIC bio in a research note on Monday, September 13th. Zacks Investment Research cut shares of IVERIC bio from a “hold” rating to a “sell” rating in a research note on Wednesday, June 23rd. Finally, Stifel Nicolaus began coverage on shares of IVERIC bio in a research note on Friday, September 10th. They set a “buy” rating and a $22.00 price target for the company.

IVERIC bio Profile

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.

Further Reading: Equity Income

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

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