Short Interest in Eyenovia, Inc. (NASDAQ:EYEN) Decreases By 6.5%

Eyenovia, Inc. (NASDAQ:EYEN) was the target of a significant decline in short interest during the month of August. As of August 15th, there was short interest totalling 1,440,000 shares, a decline of 6.5% from the July 31st total of 1,540,000 shares. Based on an average daily volume of 370,000 shares, the short-interest ratio is currently 3.9 days.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a “buy” rating and set a $12.00 price objective on shares of Eyenovia in a research note on Friday, August 18th.

Insiders Place Their Bets

In other Eyenovia news, major shareholder Stuart M. Grant purchased 45,000 shares of the stock in a transaction on Wednesday, August 16th. The stock was acquired at an average cost of $1.91 per share, with a total value of $85,950.00. Following the completion of the purchase, the insider now directly owns 5,239,998 shares of the company’s stock, valued at approximately $10,008,396.18. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 7.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Eyenovia

Institutional investors have recently bought and sold shares of the stock. Two Sigma Securities LLC bought a new position in Eyenovia in the second quarter worth about $27,000. Virtu Financial LLC bought a new position in Eyenovia in the fourth quarter worth about $26,000. American International Group Inc. bought a new position in Eyenovia in the second quarter worth about $32,000. Meitav Investment House Ltd. bought a new position in Eyenovia in the second quarter worth about $1,104,000. Finally, Oak Family Advisors LLC raised its stake in Eyenovia by 36.9% in the second quarter. Oak Family Advisors LLC now owns 61,146 shares of the company’s stock worth $145,000 after buying an additional 16,485 shares in the last quarter. 16.66% of the stock is owned by institutional investors.

Eyenovia Stock Performance

Shares of NASDAQ:EYEN opened at $1.95 on Friday. The company has a market cap of $74.51 million, a price-to-earnings ratio of -2.83 and a beta of 1.64. The company has a 50-day moving average price of $2.16 and a 200-day moving average price of $2.98. The company has a current ratio of 5.73, a quick ratio of 5.73 and a debt-to-equity ratio of 1.25. Eyenovia has a 12 month low of $1.50 and a 12 month high of $5.85.

Eyenovia (NASDAQ:EYEN) last issued its quarterly earnings data on Thursday, August 10th. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.04. As a group, equities analysts anticipate that Eyenovia will post -0.69 EPS for the current year.

About Eyenovia

Eyenovia, Inc, a pre-commercial ophthalmic company, engages in the development of therapeutics based on its proprietary microdose array print platform technology. It focuses on developing clinical microdosing of formulations of ophthalmic pharmaceutical agents using its Optejet branded targeted ocular delivery system.