Eyenovia Inc (NASDAQ:EYEN) Sees Significant Growth in Short Interest

Eyenovia Inc (NASDAQ:EYEN) was the recipient of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 246,300 shares, an increase of 7.5% from the July 31st total of 229,100 shares. Approximately 2.9% of the shares of the company are short sold. Based on an average daily trading volume, of 112,100 shares, the days-to-cover ratio is currently 2.2 days.

Shares of NASDAQ:EYEN traded down $0.08 during midday trading on Friday, reaching $4.17. 32,024 shares of the company traded hands, compared to its average volume of 45,825. Eyenovia has a 12 month low of $2.40 and a 12 month high of $6.98. The firm has a market capitalization of $69.88 million, a price-to-earnings ratio of -2.29 and a beta of 1.07. The firm’s fifty day moving average price is $3.29 and its two-hundred day moving average price is $4.68.

Eyenovia (NASDAQ:EYEN) last released its quarterly earnings data on Monday, August 12th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.03. As a group, equities analysts anticipate that Eyenovia will post -1.73 earnings per share for the current year.

EYEN has been the topic of several research reports. HC Wainwright set a $14.00 target price on Eyenovia and gave the company a “buy” rating in a research note on Wednesday, June 5th. Zacks Investment Research upgraded Eyenovia from a “hold” rating to a “buy” rating and set a $3.75 target price on the stock in a research note on Friday, August 16th. Finally, ValuEngine upgraded Eyenovia from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st.

In other news, CEO Tsontcho Ianchulev bought 233,813 shares of the stock in a transaction on Thursday, July 11th. The shares were purchased at an average cost of $2.78 per share, for a total transaction of $650,000.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Curt H. Labelle bought 17,985 shares of the stock in a transaction on Thursday, July 11th. The stock was purchased at an average price of $2.78 per share, for a total transaction of $49,998.30. The disclosure for this purchase can be found here. Insiders own 43.10% of the company’s stock.

An institutional investor recently raised its position in Eyenovia stock. Uniplan Investment Counsel Inc. lifted its stake in shares of Eyenovia Inc (NASDAQ:EYEN) by 22.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 544,896 shares of the company’s stock after purchasing an additional 99,896 shares during the quarter. Uniplan Investment Counsel Inc. owned 3.31% of Eyenovia worth $2,343,000 as of its most recent SEC filing. Institutional investors and hedge funds own 8.90% of the company’s stock.

Eyenovia Company Profile

Eyenovia, Inc, a clinical stage biopharmaceutical company, engages in developing a pipeline of ophthalmology products in the United States. It is developing MicroProst, which is in Phase III clinical trials for the treatment of chronic angle closure glaucoma; MicroStat, which is in Phase III clinical trials for the treatment of mydriasis; MicroTears for the treatment of dry eye; and MicroPine for the treatment of myopia.

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