Eyenovia, Inc. (NASDAQ:EYEN) Sees Significant Decrease in Short Interest

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 trading volume, of 928,400 shares, the days-to-cover ratio is presently 2.9 days.

Eyenovia Price Performance

Shares of NASDAQ EYEN opened at $0.83 on Monday. The company has a market capitalization of $44.71 million, a PE ratio of -1.11 and a beta of 1.77. The company has a quick ratio of 0.66, a current ratio of 0.88 and a debt-to-equity ratio of 3.72. Eyenovia has a twelve month low of $0.50 and a twelve month high of $2.57. The firm has a fifty day simple moving average of $0.92 and a 200 day simple moving average of $1.07.

Insider Activity

In other Eyenovia news, major shareholder Stuart M. Grant bought 1,515,151 shares of Eyenovia stock in a transaction on Tuesday, July 2nd. The shares were purchased at an average cost of $0.66 per share, with a total value of $999,999.66. Following the acquisition, the insider now directly owns 10,914,153 shares of the company’s stock, valued at approximately $7,203,340.98. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 7.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Leo Wealth LLC acquired a new stake in Eyenovia during the fourth quarter worth approximately $34,000. Nations Financial Group Inc. IA ADV bought a new stake in shares of Eyenovia in the 4th quarter valued at $84,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Eyenovia during the 2nd quarter valued at $26,000. Ground Swell Capital LLC acquired a new position in shares of Eyenovia during the 2nd quarter valued at $27,000. Finally, PFG Investments LLC bought a new position in Eyenovia during the first quarter worth $69,000. 25.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

About Eyenovia

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.