Eyenovia (NASDAQ:EYEN) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Eyenovia (NASDAQ:EYEN – Get Rating) from a buy rating to a hold rating in a research note issued to investors on Friday, Zacks.com reports.

According to Zacks, “Eyenovia, Inc. is a clinical stage biopharmaceutical company which engages in developing therapeutics for the treatment of prominent eye diseases primarily in the United States. Its product portfolio includes MicroProst, MicroStat, MicroTears and MicroPine which are in clinical stage. Eyenovia, Inc. is based in New York. “

Eyenovia stock opened at $2.15 on Friday. Eyenovia has a twelve month low of $1.83 and a twelve month high of $6.63. The stock’s fifty day simple moving average is $2.60 and its 200-day simple moving average is $3.13. The firm has a market capitalization of $72.17 million, a P/E ratio of -3.98 and a beta of 2.08.

Eyenovia (NASDAQ:EYEN – Get Rating) last posted its quarterly earnings data on Monday, March 28th. The company reported $0.10 earnings per share for the quarter. The company had revenue of $10.00 million for the quarter. During the same quarter in the prior year, the company earned ($0.17) earnings per share. On average, equities research analysts expect that Eyenovia will post -0.82 EPS for the current year.

In other news, major shareholder Stuart M. Grant bought 50,000 shares of the stock in a transaction that occurred on Tuesday, May 10th. The stock was purchased at an average price of $1.98 per share, for a total transaction of $99,000.00. Following the completion of the purchase, the insider now owns 4,959,998 shares in the company, valued at approximately $9,820,796.04. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Stuart M. Grant bought 24,074 shares of the stock in a transaction that occurred on Wednesday, May 4th. The shares were purchased at an average price of $2.26 per share, with a total value of $54,407.24. Following the purchase, the insider now owns 4,909,998 shares of the company’s stock, valued at approximately $11,096,595.48. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 123,874 shares of company stock valued at $280,589. Insiders own 20.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC boosted its stake in Eyenovia by 32.6% in the third quarter. Renaissance Technologies LLC now owns 197,800 shares of the company’s stock valued at $969,000 after acquiring an additional 48,652 shares in the last quarter. Saltoro Capital LP acquired a new position in Eyenovia in the third quarter valued at $852,000. Geode Capital Management LLC boosted its stake in Eyenovia by 2.2% in the third quarter. Geode Capital Management LLC now owns 162,160 shares of the company’s stock valued at $794,000 after acquiring an additional 3,415 shares in the last quarter. Millennium Management LLC boosted its stake in Eyenovia by 19.8% in the third quarter. Millennium Management LLC now owns 132,734 shares of the company’s stock valued at $650,000 after acquiring an additional 21,916 shares in the last quarter. Finally, AMH Equity Ltd acquired a new position in Eyenovia in the fourth quarter valued at $400,000. Institutional investors own 23.36% of the company’s stock.

About Eyenovia (Get Rating)

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

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