Eyenovia (NASDAQ:EYEN) Downgraded by Zacks Investment Research

Eyenovia (NASDAQ:EYENGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday, 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. “

Shares of EYEN remained flat at $$2.02 during trading hours on Friday. 46,203 shares of the stock were exchanged, compared to its average volume of 108,994. The firm has a 50-day moving average of $2.61 and a 200 day moving average of $3.16. The stock has a market capitalization of $67.81 million, a P/E ratio of -3.74 and a beta of 2.08. Eyenovia has a 1-year low of $1.83 and a 1-year high of $6.63.

Eyenovia (NASDAQ:EYENGet Rating) last announced its quarterly earnings results on Monday, March 28th. The company reported $0.10 earnings per share (EPS) for the quarter. The company had revenue of $10.00 million during the quarter. During the same period in the previous year, the company earned ($0.17) EPS. As a group, analysts anticipate that Eyenovia will post -0.82 EPS for the current year.

In other Eyenovia news, major shareholder Stuart M. Grant bought 24,074 shares of the company’s stock in a transaction on Wednesday, May 4th. The stock was purchased at an average cost of $2.26 per share, for a total transaction of $54,407.24. Following the acquisition, the insider now owns 4,909,998 shares of the company’s stock, valued at approximately $11,096,595.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Stuart M. Grant bought 42,000 shares of the company’s stock in a transaction on Tuesday, February 22nd. The shares were acquired at an average price of $2.75 per share, with a total value of $115,500.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 165,874 shares of company stock valued at $396,089 over the last 90 days. 20.00% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Hexagon Capital Partners LLC purchased a new stake in shares of Eyenovia during the first quarter worth about $30,000. LPL Financial LLC purchased a new stake in shares of Eyenovia during the fourth quarter worth about $42,000. Morgan Stanley grew its holdings in shares of Eyenovia by 246.0% during the first quarter. Morgan Stanley now owns 10,380 shares of the company’s stock worth $53,000 after buying an additional 7,380 shares in the last quarter. State Street Corp grew its holdings in shares of Eyenovia by 9.3% during the first quarter. State Street Corp now owns 61,617 shares of the company’s stock worth $188,000 after buying an additional 5,217 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Eyenovia in the fourth quarter worth approximately $216,000. Institutional investors and hedge funds own 23.36% of the company’s stock.

About Eyenovia (Get Rating)

Eyenovia, Inc, a clinical stage ophthalmic company, engages in developing therapeutics based on its proprietary microdose array print platform technology. The company focuses on developing clinical microdosing of formulations of ophthalmic pharmaceutical agents using its Optejet branded targeted ocular delivery system.

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