Eyenovia (NASDAQ:EYEN) Trading Down 13.4%

Eyenovia, Inc. (NASDAQ:EYEN)’s share price was down 13.4% during trading on Monday . The stock traded as low as $0.86 and last traded at $0.87. Approximately 2,219,150 shares traded hands during trading, an increase of 99% from the average daily volume of 1,113,744 shares. The stock had previously closed at $1.01.

Analysts Set New Price Targets

Separately, HC Wainwright reiterated a “buy” rating and set a $12.00 target price on shares of Eyenovia in a report on Tuesday, March 19th.

Eyenovia Stock Down 13.4 %

The company’s 50-day moving average is $1.12 and its 200 day moving average is $1.44. The stock has a market capitalization of $44.56 million, a PE ratio of -1.31 and a beta of 1.71. The company has a current ratio of 2.17, a quick ratio of 2.16 and a debt-to-equity ratio of 1.00.

Eyenovia (NASDAQ:EYEN) last posted its quarterly earnings results on Monday, March 18th. The company reported ($0.17) earnings per share for the quarter, meeting the consensus estimate of ($0.17). During the same period in the previous year, the company posted ($0.17) EPS. As a group, analysts anticipate that Eyenovia, Inc. will post -0.89 EPS for the current year.

Insider Activity at Eyenovia

In other news, major shareholder Stuart M. Grant acquired 50,000 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was acquired at an average price of $1.23 per share, for a total transaction of $61,500.00. Following the completion of the transaction, the insider now owns 5,330,715 shares in the company, valued at approximately $6,556,779.45. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, major shareholder Stuart M. Grant purchased 100,000 shares of Eyenovia stock in a transaction that occurred on Thursday, March 28th. The stock was purchased at an average price of $0.98 per share, for a total transaction of $98,000.00. Following the transaction, the insider now directly owns 5,430,715 shares in the company, valued at $5,322,100.70. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Stuart M. Grant acquired 50,000 shares of Eyenovia stock in a transaction that occurred on Tuesday, March 19th. The stock was purchased at an average cost of $1.23 per share, with a total value of $61,500.00. Following the completion of the purchase, the insider now owns 5,330,715 shares in the company, valued at approximately $6,556,779.45. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 160,717 shares of company stock worth $176,433. 7.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Eyenovia

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets raised its position in shares of Eyenovia by 1,444.4% during the 1st quarter. BNP Paribas Financial Markets now owns 219,610 shares of the company’s stock valued at $217,000 after buying an additional 205,390 shares during the period. PFG Investments LLC purchased a new position in Eyenovia during the first quarter worth about $69,000. Leo Wealth LLC acquired a new stake in shares of Eyenovia during the fourth quarter valued at about $34,000. Armistice Capital LLC boosted its position in shares of Eyenovia by 41.8% during the 4th quarter. Armistice Capital LLC now owns 4,378,000 shares of the company’s stock worth $9,106,000 after purchasing an additional 1,290,979 shares during the period. Finally, Nations Financial Group Inc. IA ADV acquired a new stake in Eyenovia in the 4th quarter valued at approximately $84,000. 25.84% of the stock is currently owned by institutional investors and hedge funds.

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.