Driehaus Capital Management LLC Purchases 271,587 Shares of IVERIC bio, Inc. (NASDAQ:ISEE)

Driehaus Capital Management LLC raised its position in shares of IVERIC bio, Inc. (NASDAQ:ISEE – Get Rating) by 32.1% in the second quarter, HoldingsChannel reports. The firm owned 1,116,401 shares of the company’s stock after buying an additional 271,587 shares during the quarter. Driehaus Capital Management LLC’s holdings in IVERIC bio were worth $10,740,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the company. Handelsbanken Fonder AB grew its stake in shares of IVERIC bio by 7.5% during the 1st quarter. Handelsbanken Fonder AB now owns 17,200 shares of the company’s stock valued at $289,000 after purchasing an additional 1,200 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of IVERIC bio by 39.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,520 shares of the company’s stock valued at $43,000 after purchasing an additional 1,290 shares during the period. Captrust Financial Advisors grew its stake in shares of IVERIC bio by 14,900.0% during the 1st quarter. Captrust Financial Advisors now owns 1,500 shares of the company’s stock valued at $25,000 after purchasing an additional 1,490 shares during the period. Belvedere Trading LLC grew its stake in shares of IVERIC bio by 8.8% during the 2nd quarter. Belvedere Trading LLC now owns 19,225 shares of the company’s stock valued at $226,000 after purchasing an additional 1,562 shares during the period. Finally, Teacher Retirement System of Texas grew its stake in shares of IVERIC bio by 17.5% during the 1st quarter. Teacher Retirement System of Texas now owns 16,487 shares of the company’s stock valued at $277,000 after purchasing an additional 2,453 shares during the period.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ISEE. Jefferies Financial Group downgraded IVERIC bio from a “buy” rating to a “hold” rating and cut their price objective for the company from $30.00 to $20.00 in a research note on Thursday, November 10th. Robert W. Baird boosted their price objective on IVERIC bio from $27.00 to $34.00 and gave the company an “outperform” rating in a research note on Wednesday, September 7th. StockNews.com upgraded IVERIC bio to a “sell” rating in a research note on Wednesday, October 5th. Credit Suisse Group boosted their price objective on IVERIC bio to $27.00 in a research note on Tuesday, September 6th. Finally, B. Riley upgraded IVERIC bio from a “sell” rating to a “neutral” rating in a research note on Monday, October 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $26.20.

Insider Buying and Selling

In other news, COO Keith Westby sold 10,030 shares of the company’s stock in a transaction that occurred on Thursday, December 1st. The stock was sold at an average price of $22.96, for a total transaction of $230,288.80. Following the sale, the chief operating officer now directly owns 59,759 shares of the company’s stock, valued at approximately $1,372,066.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Glenn Sblendorio sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 2nd. The stock was sold at an average price of $23.01, for a total transaction of $1,150,500.00. Following the sale, the chief executive officer now directly owns 179,689 shares of the company’s stock, valued at approximately $4,134,643.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Keith Westby sold 10,030 shares of the company’s stock in a transaction that occurred on Thursday, December 1st. The stock was sold at an average price of $22.96, for a total value of $230,288.80. Following the sale, the chief operating officer now directly owns 59,759 shares in the company, valued at $1,372,066.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 132,946 shares of company stock valued at $3,124,940. Corporate insiders own 2.70% of the company’s stock.

IVERIC bio Price Performance

NASDAQ ISEE opened at $21.23 on Friday. The stock’s 50 day moving average is $21.14 and its 200 day moving average is $15.24. The company has a debt-to-equity ratio of 0.18, a current ratio of 13.40 and a quick ratio of 13.40. IVERIC bio, Inc. has a 12 month low of $8.85 and a 12 month high of $24.33.

IVERIC bio Company Profile

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IVERIC bio, Inc, a biopharmaceutical company, discovers and develops novel treatments for retinal diseases with a focus on age-related and orphan inherited retinal diseases (IRDs). The company develops 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).