Eyenovia, Inc. (NASDAQ:EYEN) Short Interest Update

Eyenovia, Inc. (NASDAQ:EYEN) was the target of 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 volume of 928,400 shares, the days-to-cover ratio is presently 2.9 days.

Insider Activity

In other news, major shareholder Stuart M. Grant purchased 1,515,151 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were purchased at an average price of $0.66 per share, with a total value of $999,999.66. Following the purchase, the insider now directly owns 10,914,153 shares of the company’s stock, valued at approximately $7,203,340.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 7.10% of the company’s stock.

Hedge Funds Weigh In On Eyenovia

A number of hedge funds have recently bought and sold shares of EYEN. Armistice Capital LLC acquired a new position in shares of Eyenovia in the 2nd quarter worth approximately $3,601,000. Vanguard Group Inc. lifted its holdings in shares of Eyenovia by 25.2% in the 1st quarter. Vanguard Group Inc. now owns 1,790,501 shares of the company’s stock worth $1,765,000 after purchasing an additional 360,924 shares during the last quarter. BNP Paribas Financial Markets increased its position in Eyenovia by 1,444.4% in the first quarter. BNP Paribas Financial Markets now owns 219,610 shares of the company’s stock worth $217,000 after buying an additional 205,390 shares during the period. SkyView Investment Advisors LLC acquired a new stake in shares of Eyenovia in the 2nd quarter worth about $87,000. Finally, PFG Investments LLC acquired a new position in Eyenovia during the 1st quarter worth $69,000. 25.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, HC Wainwright restated a “buy” rating and set a $12.00 price objective on shares of Eyenovia in a report on Tuesday, August 13th.

Eyenovia Price Performance

EYEN opened at $0.68 on Wednesday. The company has a market capitalization of $36.64 million, a P/E ratio of -0.93 and a beta of 1.77. The company has a 50-day moving average of $0.92 and a 200-day moving average of $1.07. The company has a debt-to-equity ratio of 3.72, a quick ratio of 0.66 and a current ratio of 0.88. Eyenovia has a 1-year low of $0.50 and a 1-year high of $2.57.

Eyenovia Company Profile

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.