Several other equities research analysts also recently issued reports on the company. Zacks Investment Research raised Eyenovia from a hold rating to a buy rating and set a $3.75 price target for the company in a report on Friday, August 16th. HC Wainwright set a $14.00 target price on Eyenovia and gave the stock a buy rating in a report on Wednesday, June 5th.
Shares of EYEN opened at $4.77 on Thursday. The stock has a market capitalization of $78.42 million, a P/E ratio of -2.62 and a beta of 1.07. Eyenovia has a twelve month low of $2.40 and a twelve month high of $6.98. The company has a 50 day moving average of $3.45 and a 200-day moving average of $4.66.
In other news, CEO Tsontcho Ianchulev purchased 233,813 shares of Eyenovia stock in a transaction dated Thursday, July 11th. The shares were bought at an average cost of $2.78 per share, for a total transaction of $650,000.14. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Curt H. Labelle purchased 17,985 shares of Eyenovia stock in a transaction dated Thursday, July 11th. The shares were 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. 43.10% of the stock is currently owned by company insiders.
A hedge fund recently raised its stake in Eyenovia stock. Vanguard Group Inc. boosted its stake in Eyenovia Inc (NASDAQ:EYEN) by 72.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 139,748 shares of the company’s stock after acquiring an additional 58,697 shares during the period. Vanguard Group Inc. owned 0.85% of Eyenovia worth $601,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 8.90% of the company’s stock.
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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