Graybug Vision, Inc. (NASDAQ:GRAY) Sees Large Increase in Short Interest

Graybug Vision, Inc. (NASDAQ:GRAY – Get Rating) saw a large increase in short interest during the month of April. As of April 30th, there was short interest totalling 62,900 shares, an increase of 60.5% from the April 15th total of 39,200 shares. Based on an average daily trading volume, of 53,000 shares, the short-interest ratio is currently 1.2 days. Currently, 0.5% of the company’s stock are short sold.

A number of equities analysts have recently commented on the stock. Wedbush restated a “neutral” rating and set a $3.00 price objective on shares of Graybug Vision in a research note on Thursday, March 31st. Cantor Fitzgerald cut their target price on shares of Graybug Vision from $4.00 to $2.50 in a research note on Wednesday. Finally, Zacks Investment Research upgraded shares of Graybug Vision from a “sell” rating to a “hold” rating in a research note on Friday. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $3.56.

A number of institutional investors have recently added to or reduced their stakes in GRAY. Renaissance Technologies LLC raised its holdings in Graybug Vision by 221.3% in the 1st quarter. Renaissance Technologies LLC now owns 35,341 shares of the company’s stock valued at $43,000 after acquiring an additional 24,341 shares during the period. State Street Corp increased its holdings in shares of Graybug Vision by 70.7% during the fourth quarter. State Street Corp now owns 35,073 shares of the company’s stock worth $64,000 after purchasing an additional 14,525 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Graybug Vision during the first quarter worth approximately $125,000. Millennium Management LLC bought a new position in shares of Graybug Vision during the second quarter worth approximately $126,000. Finally, GSA Capital Partners LLP bought a new position in shares of Graybug Vision during the fourth quarter worth approximately $158,000. 52.88% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:GRAY traded up $0.06 during mid-day trading on Friday, hitting $0.83. The stock had a trading volume of 67,553 shares, compared to its average volume of 43,365. The stock has a market cap of $17.63 million, a price-to-earnings ratio of -0.51 and a beta of 2.39. Graybug Vision has a twelve month low of $0.72 and a twelve month high of $7.06. The company’s 50 day simple moving average is $1.14 and its 200 day simple moving average is $1.69.

Graybug Vision (NASDAQ:GRAY – Get Rating) last released its quarterly earnings results on Thursday, March 10th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.05). Equities analysts anticipate that Graybug Vision will post -1.71 earnings per share for the current year.

Graybug Vision Company Profile (Get Rating)

Graybug Vision, Inc, a clinical-stage biopharmaceutical company, focuses on the development of medicines for the treatment of diseases of the retina and optic nerve. The company's lead product candidate is GB-102, an intravitreal injection of a microparticle depot formulation of sunitinib that is in Phase I/IIa and IIb clinical trials for the treatment of wet age-related macular degeneration, as well as in Phase IIa clinical trial to treat diabetic macular edema.

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