Fairpointe Capital LLC Invests $313,000 in Eyenovia Inc (EYEN) Stock
Fairpointe Capital LLC purchased a new stake in shares of Eyenovia Inc (NASDAQ:EYEN) in the second quarter, according to the company in its most recent filing with the SEC. The fund purchased 49,649 shares of the company’s stock, valued at approximately $313,000.
A number of other hedge funds also recently added to or reduced their stakes in EYEN. Uniplan Investment Counsel Inc. acquired a new position in Eyenovia during the 1st quarter valued at about $3,248,000. Millennium Management LLC acquired a new position in Eyenovia during the 1st quarter valued at about $2,525,000. Highbridge Capital Management LLC acquired a new position in Eyenovia during the 1st quarter valued at about $1,373,000. Finally, Sabby Management LLC acquired a new position in Eyenovia during the 1st quarter valued at about $908,000. Institutional investors and hedge funds own 12.28% of the company’s stock.
In other news, CEO Tsontcho Ianchulev bought 6,000 shares of the company’s stock in a transaction on Thursday, June 28th. The shares were purchased at an average price of $6.63 per share, with a total value of $39,780.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 48.20% of the stock is owned by company insiders.
Eyenovia (NASDAQ:EYEN) last released its quarterly earnings results on Tuesday, August 14th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.09. equities analysts anticipate that Eyenovia Inc will post -1.73 earnings per share for the current fiscal year.
Separately, Zacks Investment Research upgraded Eyenovia from a “hold” rating to a “buy” rating and set a $6.25 price target for the company in a research note on Friday, August 17th.
Eyenovia, Inc, a clinical stage biopharmaceutical company, engages in developing a pipeline of ophthalmology products in the United States. It is developing MicroProst, which is in Phase III clinical trials for the treatment of chronic angle closure glaucoma; MicroStat, which is in Phase III clinical trials for the treatment of mydriasis; MicroTears for the treatment of dry eye; and MicroPine for the treatment of myopia.
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