Eyenovia (NASDAQ:EYEN) Cut to Neutral at HC Wainwright

HC Wainwright downgraded shares of Eyenovia (NASDAQ:EYEN) from a buy rating to a neutral rating in a research note issued to investors on Monday, Marketbeat.com reports. HC Wainwright currently has $2.00 price objective on the stock, down from their prior price objective of $12.00. HC Wainwright also issued estimates for Eyenovia’s Q4 2024 earnings at ($0.09) EPS, Q4 2024 earnings at ($0.10) EPS, FY2024 earnings at ($0.52) EPS, FY2024 earnings at ($0.51) EPS, FY2025 earnings at ($0.48) EPS, FY2025 earnings at ($0.46) EPS, FY2026 earnings at ($0.36) EPS, FY2026 earnings at ($0.31) EPS, FY2027 earnings at $0.14 EPS, FY2027 earnings at ($0.16) EPS, FY2028 earnings at $0.05 EPS and FY2028 earnings at $0.56 EPS.

Other equities analysts have also recently issued reports about the company. William Blair restated a “market perform” rating on shares of Eyenovia in a report on Friday, November 15th. Brookline Capital Management reissued a “hold” rating on shares of Eyenovia in a research note on Friday, November 15th.

Eyenovia Price Performance

EYEN stock opened at $0.09 on Monday. The company has a market capitalization of $5.92 million, a P/E ratio of -0.13 and a beta of 1.75. The company has a fifty day moving average price of $0.46 and a 200-day moving average price of $0.69. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.55 and a current ratio of 0.74. Eyenovia has a 52-week low of $0.08 and a 52-week high of $2.57.

Eyenovia (NASDAQ:EYEN) last announced its earnings results on Tuesday, November 12th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.02. Eyenovia had a negative return on equity of 1,108.24% and a negative net margin of 114,639.41%. During the same period in the previous year, the firm earned ($0.18) EPS. As a group, equities analysts expect that Eyenovia will post -0.5 EPS for the current year.

Insider Buying and Selling

In other news, CEO Michael M. Rowe acquired 50,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were acquired at an average price of $0.57 per share, for a total transaction of $28,500.00. Following the completion of the purchase, the chief executive officer now owns 82,927 shares in the company, valued at approximately $47,268.39. This trade represents a 151.85 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 7.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Eyenovia

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Armistice Capital LLC bought a new stake in shares of Eyenovia in the second quarter valued at approximately $3,601,000. Vanguard Group Inc. grew its stake in Eyenovia by 25.2% in the 1st quarter. Vanguard Group Inc. now owns 1,790,501 shares of the company’s stock valued at $1,765,000 after buying an additional 360,924 shares in the last quarter. Geode Capital Management LLC raised its holdings in Eyenovia by 36.6% during the 3rd quarter. Geode Capital Management LLC now owns 557,994 shares of the company’s stock valued at $288,000 after acquiring an additional 149,471 shares during the period. BNP Paribas Financial Markets lifted its position in shares of 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 acquiring an additional 205,390 shares in the last quarter. Finally, SkyView Investment Advisors LLC bought a new position in shares of Eyenovia in the second quarter worth $87,000. Institutional investors own 25.84% of the company’s stock.

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.