Geode Capital Management LLC Increases Stock Position in Eyenovia, Inc. (NASDAQ:EYEN)

Geode Capital Management LLC increased its position in Eyenovia, Inc. (NASDAQ:EYEN) by 36.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 557,994 shares of the company’s stock after acquiring an additional 149,471 shares during the period. Geode Capital Management LLC owned about 0.87% of Eyenovia worth $288,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in Eyenovia in the 2nd quarter worth approximately $26,000. Financial Management Network Inc. purchased a new position in Eyenovia in the 3rd quarter worth approximately $39,000. Nations Financial Group Inc. IA ADV raised its holdings in Eyenovia by 78.6% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 90,900 shares of the company’s stock worth $47,000 after acquiring an additional 40,000 shares during the last quarter. SkyView Investment Advisors LLC purchased a new position in Eyenovia in the 2nd quarter worth approximately $87,000. Finally, Armistice Capital LLC purchased a new position in Eyenovia in the 2nd quarter worth approximately $3,601,000. 25.84% of the stock is currently owned by hedge funds and other institutional investors.

Eyenovia Trading Down 11.1 %

Shares of EYEN stock opened at $0.10 on Tuesday. Eyenovia, Inc. has a 1 year low of $0.08 and a 1 year high of $2.57. The firm has a fifty day moving average price of $0.17 and a 200-day moving average price of $0.53. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.74 and a quick ratio of 0.55. The company has a market cap of $10.70 million, a price-to-earnings ratio of -0.13 and a beta of 1.31.

Eyenovia (NASDAQ:EYEN) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. Eyenovia had a negative net margin of 114,639.41% and a negative return on equity of 1,108.24%. During the same quarter in the prior year, the business posted ($0.18) earnings per share. As a group, equities analysts predict that Eyenovia, Inc. will post -0.49 earnings per share for the current year.

Analysts Set New Price Targets

EYEN has been the subject of a number of research analyst reports. LADENBURG THALM/SH SH reaffirmed a “neutral” rating on shares of Eyenovia in a research report on Monday, November 18th. William Blair reaffirmed a “market perform” rating on shares of Eyenovia in a research report on Friday, November 15th. Brookline Capital Management reaffirmed a “hold” rating on shares of Eyenovia in a research report on Friday, November 15th. Finally, HC Wainwright downgraded shares of Eyenovia from a “buy” rating to a “neutral” rating and cut their target price for the stock from $12.00 to $2.00 in a research report on Monday, November 18th.

Eyenovia 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.