Here’s Why You Should Add IVERIC bio (ISEE) to Your Watchlist

TimesSquare Capital Management, an equity investment management company, released its “U.S. Small/Mid Cap Growth Strategy” fourth-quarter investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy outperformed the Russell 2500 Growth Index and returned 6.03% (gross), and the index return was 4.72%. For the full year, the strategy return was -25.06% (gross) compared to a -26.21% return for the benchmark. The relative weakness in the Information Technology and Energy sectors in the quarter was offset by strength in the Financials, Consumer Discretionary, Health Care, and Industrials sectors. In addition, please check the fund’s top five holdings to know its best picks in 2022.

TimesSquare U.S. Small/Mid Cap Growth Strategy highlighted stocks like IVERIC bio, Inc. (NASDAQ:ISEE) in its Q4 2022 investor letter. Headquartered in Parsippany, New Jersey, IVERIC bio, Inc. (NASDAQ:ISEE) is a biopharmaceutical company. On March 23, 2023, IVERIC bio, Inc. (NASDAQ:ISEE) stock closed at $23.71 per share. One-month return of IVERIC bio, Inc. (NASDAQ:ISEE) was 14.49%, and its shares gained 59.45% of their value over the last 52 weeks. IVERIC bio, Inc. (NASDAQ:ISEE) has a market capitalization of $3.251 billion.

TimesSquare U.S. Small/Mid Cap Growth Strategy made the following comment about IVERIC bio, Inc. (NASDAQ:ISEE) in its Q4 2022 investor letter:

“Elsewhere in the sector, we added the biotechnology firm IVERIC bio, Inc. (NASDAQ:ISEE), which is developing new treatments that delay vision loss from retinal diseases. Its Zimura therapy was recently granted “breakthrough” status by the FDA, meaning that the preliminary data showed substantial treatment improvements, and its new drug application is anticipated to be approved in 2023.”

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IVERIC bio, Inc. (NASDAQ:ISEE) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 55 hedge fund portfolios held IVERIC bio, Inc. (NASDAQ:ISEE) at the end of the fourth quarter which was 51 in the previous quarter.

We discussed IVERIC bio, Inc. (NASDAQ:ISEE) in another article and shared the list of best 52-week high stocks to buy. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.