Eyenovia (NASDAQ:EYEN) Shares Down 13.4%

Shares of Eyenovia, Inc. (NASDAQ:EYEN) dropped 13.4% on Monday . The company traded as low as $0.86 and last traded at $0.87. Approximately 2,219,150 shares changed hands during mid-day trading, an increase of 99% from the average daily volume of 1,113,744 shares. The stock had previously closed at $1.01.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a “buy” rating and set a $12.00 target price on shares of Eyenovia in a research note on Tuesday, March 19th.

Eyenovia Price Performance

The company has a debt-to-equity ratio of 1.00, a current ratio of 2.17 and a quick ratio of 2.16. The business’s fifty day moving average price is $1.12 and its 200-day moving average price is $1.44. The stock has a market capitalization of $44.56 million, a price-to-earnings ratio of -1.31 and a beta of 1.71.

Eyenovia (NASDAQ:EYEN) last posted its earnings results on Monday, March 18th. The company reported ($0.17) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.17). During the same quarter in the prior year, the business posted ($0.17) earnings per share. On average, research analysts forecast that Eyenovia, Inc. will post -0.89 EPS for the current year.

Insider Buying and Selling

In other Eyenovia news, major shareholder Stuart M. Grant bought 50,000 shares of Eyenovia stock in a transaction dated Tuesday, March 19th. The stock was purchased at an average price of $1.23 per share, for a total transaction of $61,500.00. Following the completion of the purchase, the insider now directly owns 5,330,715 shares of the company’s stock, valued at $6,556,779.45. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, major shareholder Stuart M. Grant purchased 50,000 shares of Eyenovia stock in a transaction dated Tuesday, March 19th. The stock was purchased at an average cost of $1.23 per share, for a total transaction of $61,500.00. Following the transaction, the insider now directly owns 5,330,715 shares of the company’s stock, valued at $6,556,779.45. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Stuart M. Grant acquired 100,000 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was acquired at an average price of $0.98 per share, for a total transaction of $98,000.00. Following the transaction, the insider now directly owns 5,430,715 shares of the company’s stock, valued at approximately $5,322,100.70. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 160,717 shares of company stock valued at $176,433. 7.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Eyenovia

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Armistice Capital LLC purchased a new position in shares of Eyenovia in the third quarter worth $5,124,000. BNP Paribas Financial Markets lifted its position in shares of Eyenovia by 1,444.4% in the 1st quarter. BNP Paribas Financial Markets now owns 219,610 shares of the company’s stock worth $217,000 after purchasing an additional 205,390 shares during the period. PFG Investments LLC bought a new stake in shares of Eyenovia during the 1st quarter valued at about $69,000. Nations Financial Group Inc. IA ADV purchased a new position in shares of Eyenovia during the fourth quarter valued at about $84,000. Finally, Leo Wealth LLC bought a new position in Eyenovia in the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 25.84% of the company’s stock.

Eyenovia Company Profile

Eyenovia, Inc, an ophthalmic technology company, engages in the development of therapeutics based on its proprietary microdose array print platform technology. The company's product candidates include MicroPine, which is in Phase III clinical development program with indications for pediatric myopia progression (near-sightedness); MicroLine, which is in Phase III clinical development program with indications for the improvement in near vision in people with presbyopia; and Mydcombi, which is in Phase III clinical development program with indications for pharmaceutical mydriasis.