Armistice Capital LLC Purchases Shares of 6,060,606 Eyenovia, Inc. (NASDAQ:EYEN)

Armistice Capital LLC acquired a new position in shares of Eyenovia, Inc. (NASDAQ:EYEN) in the 2nd quarter, Holdings Channel reports. The fund acquired 6,060,606 shares of the company’s stock, valued at approximately $3,601,000. Armistice Capital LLC owned approximately 0.11% of Eyenovia at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Leo Wealth LLC purchased a new position in Eyenovia in the 4th quarter worth $34,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Eyenovia during the 2nd quarter valued at about $26,000. Ground Swell Capital LLC acquired a new position in shares of Eyenovia in the second quarter valued at about $27,000. Nations Financial Group Inc. IA ADV raised its stake in shares of Eyenovia by 24.4% in the second quarter. Nations Financial Group Inc. IA ADV now owns 50,900 shares of the company’s stock worth $30,000 after purchasing an additional 10,000 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Eyenovia by 1,444.4% during the first quarter. BNP Paribas Financial Markets now owns 219,610 shares of the company’s stock worth $217,000 after purchasing an additional 205,390 shares during the period. 25.84% of the stock is currently owned by institutional investors and hedge funds.

Eyenovia Price Performance

Shares of EYEN opened at $0.46 on Friday. The company has a market capitalization of $29.66 million, a price-to-earnings ratio of -0.62 and a beta of 1.74. Eyenovia, Inc. has a 52 week low of $0.37 and a 52 week high of $2.57. The stock’s 50-day moving average price is $0.77 and its 200-day moving average price is $0.82. The company has a quick ratio of 0.27, a current ratio of 0.46 and a debt-to-equity ratio of 3.72.

Eyenovia (NASDAQ:EYEN) last announced its quarterly earnings results on Monday, August 12th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.01). The company had revenue of $0.02 million during the quarter, compared to analyst estimates of $1.38 million. Eyenovia had a negative net margin of 116,506.25% and a negative return on equity of 547.46%. On average, sell-side analysts predict that Eyenovia, Inc. will post -0.57 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on EYEN shares. HC Wainwright reiterated a “buy” rating and issued a $12.00 price target on shares of Eyenovia in a report on Tuesday, August 13th. William Blair upgraded shares of Eyenovia to a “strong-buy” rating in a research note on Friday, August 30th.

Insider Buying and Selling

In other news, CEO Michael M. Rowe acquired 50,000 shares of the business’s stock in a transaction on Monday, August 26th. The stock was bought at an average price of $0.57 per share, with a total value of $28,500.00. Following the completion of the acquisition, the chief executive officer now owns 82,927 shares of the company’s stock, valued at $47,268.39. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Eyenovia news, CEO Michael M. Rowe purchased 50,000 shares of the stock in a transaction on Monday, August 26th. The shares were bought at an average price of $0.57 per share, for a total transaction of $28,500.00. Following the completion of the transaction, the chief executive officer now owns 82,927 shares of the company’s stock, valued at approximately $47,268.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Stuart M. Grant acquired 1,515,151 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was acquired at an average price of $0.66 per share, with a total value of $999,999.66. Following the completion of the transaction, the insider now directly owns 10,914,153 shares of the company’s stock, valued at $7,203,340.98. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 1,592,222 shares of company stock valued at $1,042,577. Corporate insiders own 7.10% of the company’s stock.

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.