Eyenovia (NASDAQ:EYEN) Stock Rating Lowered by Zacks Investment Research

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

Separately, Northland Securities dropped their price target on shares of Eyenovia from $12.00 to $9.00 and set an outperform rating for the company in a research report on Tuesday, October 26th.

Shares of EYEN stock opened at $3.60 on Wednesday. Eyenovia has a one year low of $3.31 and a one year high of $7.72. The company has a 50 day moving average price of $3.75 and a 200 day moving average price of $4.40.

Eyenovia (NASDAQ:EYEN) last issued its quarterly earnings results on Wednesday, November 10th. The company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.02. During the same quarter last year, the business posted ($0.23) EPS. Research analysts anticipate that Eyenovia will post -0.86 EPS for the current year.

In other Eyenovia news, major shareholder Stuart M. Grant acquired 100,000 shares of the company’s stock in a transaction dated Wednesday, December 15th. The stock was bought at an average price of $3.45 per share, with a total value of $345,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Stuart M. Grant acquired 15,505 shares of the company’s stock in a transaction dated Friday, October 29th. The stock was acquired at an average cost of $3.75 per share, with a total value of $58,143.75. The disclosure for this purchase can be found here. Insiders bought 259,511 shares of company stock valued at $952,856 in the last three months. Company insiders own 20.00% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Morgan Stanley grew its holdings in Eyenovia by 246.0% during the 1st quarter. Morgan Stanley now owns 10,380 shares of the company’s stock valued at $53,000 after purchasing an additional 7,380 shares in the last quarter. Millennium Management LLC grew its holdings in Eyenovia by 19.8% during the 3rd quarter. Millennium Management LLC now owns 132,734 shares of the company’s stock valued at $650,000 after purchasing an additional 21,916 shares in the last quarter. Geode Capital Management LLC grew its holdings in Eyenovia by 14.2% during the 2nd quarter. Geode Capital Management LLC now owns 158,745 shares of the company’s stock valued at $787,000 after purchasing an additional 19,781 shares in the last quarter. Saltoro Capital LP acquired a new stake in Eyenovia during the 3rd quarter valued at $852,000. Finally, Renaissance Technologies LLC grew its holdings in Eyenovia by 32.6% during the 3rd quarter. Renaissance Technologies LLC now owns 197,800 shares of the company’s stock valued at $969,000 after purchasing an additional 48,652 shares in the last quarter. 25.85% of the stock is owned by institutional investors and hedge funds.

About Eyenovia

Eyenovia, Inc is a clinical stage biopharmaceutical company, which engages in the research and development of ophthalmology products. The company offers a piezo-print technology to deliver micro-doses of micro-therapeutics for the eyes. Its products include MicroProst, MicroStat, MicroTears, and MicroPine.

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