Eyenovia, Inc. (NASDAQ:EYEN) Short Interest Update

Eyenovia, Inc. (NASDAQ:EYEN) saw a significant decrease in short interest in the month of July. As of July 31st, there was short interest totalling 2,710,000 shares, a decrease of 6.2% from the July 15th total of 2,890,000 shares. Based on an average daily volume of 928,400 shares, the days-to-cover ratio is currently 2.9 days.

Eyenovia Stock Performance

NASDAQ EYEN opened at $0.68 on Wednesday. The company has a quick ratio of 0.66, a current ratio of 0.88 and a debt-to-equity ratio of 3.72. The company has a market capitalization of $36.64 million, a P/E ratio of -0.93 and a beta of 1.77. The firm has a 50-day moving average price of $0.92 and a two-hundred day moving average price of $1.07. Eyenovia has a 12-month low of $0.50 and a 12-month high of $2.57.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $12.00 target price on shares of Eyenovia in a research report on Tuesday, August 13th.

Insider Activity

In related news, major shareholder Stuart M. Grant bought 1,515,151 shares of Eyenovia stock in a transaction that occurred on Tuesday, July 2nd. The stock was acquired at an average price of $0.66 per share, with a total value of $999,999.66. Following the acquisition, the insider now owns 10,914,153 shares of the company’s stock, valued at approximately $7,203,340.98. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 7.10% of the company’s stock.

Hedge Funds Weigh In On Eyenovia

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Armistice Capital LLC bought a new stake in shares of Eyenovia during the 2nd quarter worth approximately $3,601,000. Vanguard Group Inc. lifted its stake in Eyenovia by 25.2% during the first quarter. Vanguard Group Inc. now owns 1,790,501 shares of the company’s stock worth $1,765,000 after purchasing an additional 360,924 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in Eyenovia by 1,444.4% during the first 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 last quarter. SkyView Investment Advisors LLC acquired a new stake in shares of Eyenovia in the 2nd quarter valued at $87,000. Finally, PFG Investments LLC bought a new position in shares of Eyenovia in the 1st quarter valued at $69,000. 25.84% of the stock is owned by institutional investors and hedge funds.

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.