Eton Pharmaceuticals, Inc. (NASDAQ:ETON) Sees Significant Drop in Short Interest

Eton Pharmaceuticals, Inc. (NASDAQ:ETON) was the target of a large drop in short interest during the month of August. As of August 15th, there was short interest totalling 69,600 shares, a drop of 7.4% from the July 31st total of 75,200 shares. Currently, 0.3% of the company’s stock are short sold. Based on an average daily volume of 57,600 shares, the short-interest ratio is presently 1.2 days.

Eton Pharmaceuticals Stock Performance

Eton Pharmaceuticals stock opened at $4.60 on Wednesday. The firm has a market cap of $118.86 million, a price-to-earnings ratio of 115.00 and a beta of 1.29. Eton Pharmaceuticals has a 12 month low of $3.03 and a 12 month high of $5.81. The stock has a fifty day simple moving average of $3.75 and a two-hundred day simple moving average of $3.73.

Eton Pharmaceuticals (NASDAQ:ETON) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.05). Eton Pharmaceuticals had a negative return on equity of 43.62% and a negative net margin of 21.31%. The business had revenue of $9.07 million during the quarter, compared to the consensus estimate of $10.00 million.

Institutional Trading of Eton Pharmaceuticals

A number of large investors have recently made changes to their positions in the stock. Westside Investment Management Inc. lifted its position in Eton Pharmaceuticals by 1.9% during the first quarter. Westside Investment Management Inc. now owns 573,960 shares of the company’s stock valued at $2,152,000 after purchasing an additional 10,850 shares during the period. Acadian Asset Management LLC raised its stake in Eton Pharmaceuticals by 13.7% during the 1st quarter. Acadian Asset Management LLC now owns 156,386 shares of the company’s stock valued at $585,000 after buying an additional 18,898 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in Eton Pharmaceuticals during the 4th quarter valued at $123,000. Renaissance Technologies LLC lifted its holdings in shares of Eton Pharmaceuticals by 63.8% during the 2nd quarter. Renaissance Technologies LLC now owns 106,500 shares of the company’s stock valued at $350,000 after buying an additional 41,469 shares during the period. Finally, Opaleye Management Inc. boosted its stake in shares of Eton Pharmaceuticals by 4.1% in the 4th quarter. Opaleye Management Inc. now owns 2,529,887 shares of the company’s stock worth $11,081,000 after buying an additional 99,617 shares during the last quarter. 27.86% of the stock is currently owned by institutional investors.

Eton Pharmaceuticals Company Profile

Eton Pharmaceuticals, Inc, a specialty pharmaceutical company, focuses on developing, acquiring, and commercializing pharmaceutical products for rare diseases. The company offers ALKINDI SPRINKLE, a replacement therapy for adrenocortical insufficiency in children under 17 years of age; Carglumic Acid for the treatment of acute and chronic hyperammonemia due to N-acetylglutamate Synthase deficiency; Betaine Anhydrous for the treatment of homocystinuria; and Nitisinone for the treatment of tyrosinemia type 1.