Wall Street Analyst Downgrade IVERIC bio Inc. [ISEE]. What else is Wall St. saying

IVERIC bio Inc. [NASDAQ: ISEE] slipped around -1.08 points on Thursday, while shares priced at $22.78 at the close of the session, down -4.53%. The company report on March 2, 2023 that Iveric Bio Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4).

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IVERIC bio, Inc. (NASDAQ: ISEE) today reported that on March 1, 2023, the Company granted equity-based awards pursuant to the Company’s 2019 Inducement Stock Incentive Plan to nine newly-hired, non-executive employees. These inducement grants were approved by the Company’s compensation and talent strategy committee pursuant to a delegation by the Company’s board of directors and were made as a material inducement to each employee’s acceptance of employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4) as a component of his or her employment compensation.

The inducement grants consisted of non-statutory stock options to purchase 107,000 shares of the Company’s common stock and 11,110 restricted stock units for shares of the Company’s common stock.

IVERIC bio Inc. stock is now 6.40% up from its year-to-date (YTD) trading value. ISEE Stock saw the intraday high of $24.265 and lowest of $22.71 per share. The company’s 52-week high price is 26.35, which means current price is +24.82% above from all time high which was touched on 02/17/23.

Compared to the average trading volume of 2.41M shares, ISEE reached a trading volume of 2500533 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about IVERIC bio Inc. [ISEE]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ISEE shares is $31.17 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ISEE stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Jefferies have made an estimate for IVERIC bio Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on November 10, 2022. The new note on the price target was released on October 17, 2022, representing the official price target for IVERIC bio Inc. stock. Previously, the target price had yet another drop from $12 to $8, while B. Riley Securities kept a Sell rating on ISEE stock.

The Average True Range (ATR) for IVERIC bio Inc. is set at 1.39 The Price to Book ratio for the last quarter was 5.35, with the Price to Cash per share for the same quarter was set at 4.66.

How has ISEE stock performed recently?

IVERIC bio Inc. [ISEE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.76. With this latest performance, ISEE shares gained by 0.04% in over the last four-week period, additionally plugging by 52.48% over the last 6 months – not to mention a rise of 50.86% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ISEE stock in for the last two-week period is set at 54.01, with the RSI for the last a single of trading hit 53.71, and the three-weeks RSI is set at 53.69 for IVERIC bio Inc. [ISEE]. The present Moving Average for the last 50 days of trading for this stock 21.25, while it was recorded at 23.35 for the last single week of trading, and 17.19 for the last 200 days.

IVERIC bio Inc. [ISEE]: Deeper insight into the fundamentals

Return on Equity for this stock declined to -41.38, with Return on Assets sitting at -35.07.

IVERIC bio Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 18.60 and a Current Ratio set at 18.60.

Insider trade positions for IVERIC bio Inc. [ISEE]

There are presently around $3,350 million, or 96.20% of ISEE stock, in the hands of institutional investors. The top three institutional holders of ISEE stocks are: VANGUARD GROUP INC with ownership of 10,152,003, which is approximately 65.97% of the company’s market cap and around 0.40% of the total institutional ownership; BLACKROCK INC., holding 9,751,155 shares of the stock with an approximate value of $222.13 million in ISEE stocks shares; and DEEP TRACK CAPITAL, LP, currently with $179.46 million in ISEE stock with ownership of nearly 12.545% of the company’s market capitalization.

140 institutional holders increased their position in IVERIC bio Inc. [NASDAQ:ISEE] by around 38,379,430 shares. Additionally, 104 investors decreased positions by around 19,087,555 shares, while 23 investors held positions by with 89,593,001 shares. The mentioned changes placed institutional holdings at 147,059,986 shares, according to the latest SEC report filing. ISEE stock had 52 new institutional investments in for a total of 12,899,905 shares, while 41 institutional investors sold positions of 5,707,069 shares during the same period.


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