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

Zacks Investment Research downgraded shares of Eyenovia (NASDAQ:EYEN) from a buy rating to a hold rating in a research report released on Tuesday, 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. “

Several other analysts have also commented on EYEN. ValuEngine raised shares of Eyenovia from a hold rating to a buy rating in a research report on Tuesday. HC Wainwright reiterated a buy rating and issued a $10.00 price objective on shares of Eyenovia in a research report on Friday, November 15th.

Shares of EYEN stock opened at $3.59 on Tuesday. The company has a market capitalization of $70.54 million, a PE ratio of -1.97 and a beta of 1.42. The firm’s 50-day moving average is $3.20 and its two-hundred day moving average is $3.76. Eyenovia has a 12 month low of $2.40 and a 12 month high of $6.98.

Eyenovia (NASDAQ:EYEN) last posted its quarterly earnings results on Wednesday, November 13th. The company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.05. As a group, analysts anticipate that Eyenovia will post -1.52 earnings per share for the current fiscal year.

In other Eyenovia news, major shareholder Stuart M. Grant acquired 17,940 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was purchased at an average cost of $3.70 per share, with a total value of $66,378.00. Following the transaction, the insider now owns 2,226,183 shares of the company’s stock, valued at $8,236,877.10. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Stuart M. Grant acquired 15,000 shares of Eyenovia stock in a transaction that occurred on Wednesday, October 16th. The stock was bought at an average price of $3.14 per share, for a total transaction of $47,100.00. Following the completion of the acquisition, the insider now owns 2,226,183 shares in the company, valued at approximately $6,990,214.62. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 99,897 shares of company stock worth $305,253. Corporate insiders own 43.10% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Eyenovia by 72.4% during the second quarter. Vanguard Group Inc. now owns 139,748 shares of the company’s stock valued at $601,000 after acquiring an additional 58,697 shares during the last quarter. Fairpointe Capital LLC raised its stake in shares of Eyenovia by 25.1% in the 3rd quarter. Fairpointe Capital LLC now owns 224,526 shares of the company’s stock valued at $831,000 after acquiring an additional 45,000 shares during the period. Finally, Uniplan Investment Counsel Inc. raised its stake in shares of Eyenovia by 22.4% in the 2nd quarter. Uniplan Investment Counsel Inc. now owns 544,896 shares of the company’s stock valued at $2,343,000 after acquiring an additional 99,896 shares during the period. 8.44% of the stock is owned by institutional investors.

About Eyenovia

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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