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

Eyenovia (NASDAQ:EYEN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors 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. “

Other research analysts have also recently issued reports about the company. ValuEngine cut Eyenovia from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. HC Wainwright reaffirmed a “buy” rating and set a $10.00 price objective on shares of Eyenovia in a research report on Friday, November 15th.

Shares of NASDAQ:EYEN traded up $0.24 on Tuesday, hitting $4.74. 152,813 shares of the company’s stock were exchanged, compared to its average volume of 61,390. The firm’s 50-day moving average is $3.89 and its 200 day moving average is $3.53. The company has a market capitalization of $71.19 million, a PE ratio of -2.60 and a beta of 1.47. Eyenovia has a 1-year low of $2.55 and a 1-year high of $6.98.

Eyenovia (NASDAQ:EYEN) last released its quarterly earnings data on Wednesday, November 13th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.34) by $0.05. Equities analysts predict that Eyenovia will post -1.52 EPS for the current fiscal year.

In other news, major shareholder Stuart M. Grant bought 29,945 shares of Eyenovia stock in a transaction dated Tuesday, November 12th. The stock was acquired at an average cost of $2.70 per share, with a total value of $80,851.50. Following the acquisition, the insider now owns 2,226,183 shares of the company’s stock, valued at $6,010,694.10. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Stuart M. Grant bought 25,000 shares of Eyenovia stock in a transaction dated Wednesday, October 30th. The stock was purchased at an average cost of $2.85 per share, with a total value of $71,250.00. Following the completion of the acquisition, the insider now directly owns 2,226,183 shares in the company, valued at approximately $6,344,621.55. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 69,945 shares of company stock valued at $199,202. Insiders own 43.10% of the company’s stock.

Several institutional investors have recently bought and sold shares of EYEN. Vanguard Group Inc. lifted its holdings in shares of Eyenovia by 72.4% in the 2nd quarter. Vanguard Group Inc. now owns 139,748 shares of the company’s stock valued at $601,000 after purchasing an additional 58,697 shares during the last quarter. Uniplan Investment Counsel Inc. lifted its holdings 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 purchasing an additional 99,896 shares during the last quarter. Finally, Fairpointe Capital LLC lifted its holdings 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 purchasing an additional 45,000 shares during the last quarter. 8.44% of the stock is owned by institutional investors and hedge funds.

Eyenovia Company Profile

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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