Eton Pharmaceuticals, Inc. (NASDAQ:ETON) Short Interest Down 6.2% in October

Eton Pharmaceuticals, Inc. (NASDAQ:ETON) was the recipient of a large decrease in short interest in October. As of October 31st, there was short interest totalling 191,900 shares, a decrease of 6.2% from the October 15th total of 204,600 shares. Based on an average daily trading volume, of 156,700 shares, the short-interest ratio is presently 1.2 days. Currently, 0.8% of the company’s shares are sold short.

Eton Pharmaceuticals Price Performance

Shares of NASDAQ ETON opened at $10.50 on Wednesday. The company has a 50-day moving average price of $7.62 and a 200-day moving average price of $5.09. The stock has a market capitalization of $271.32 million, a P/E ratio of -47.73 and a beta of 1.25. Eton Pharmaceuticals has a 1 year low of $3.03 and a 1 year high of $11.11.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $11.00 price target on shares of Eton Pharmaceuticals in a report on Wednesday, November 13th. Craig Hallum increased their target price on Eton Pharmaceuticals from $10.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, October 28th.

Insiders Place Their Bets

In related news, major shareholder Opaleye Management Inc. acquired 11,248 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were bought at an average price of $7.22 per share, with a total value of $81,210.56. Following the transaction, the insider now directly owns 2,730,000 shares of the company’s stock, valued at $19,710,600. This trade represents a 0.41 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last three months, insiders have acquired 85,600 shares of company stock worth $462,674. Corporate insiders own 14.89% of the company’s stock.

Institutional Trading of Eton Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ETON. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Eton Pharmaceuticals during the third quarter valued at approximately $54,000. Jane Street Group LLC bought a new position in Eton Pharmaceuticals during the 3rd quarter valued at $90,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Eton Pharmaceuticals by 86.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 65,014 shares of the company’s stock worth $390,000 after acquiring an additional 30,167 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Eton Pharmaceuticals by 63.8% in the 2nd quarter. Renaissance Technologies LLC now owns 106,500 shares of the company’s stock worth $350,000 after acquiring an additional 41,469 shares in the last quarter. Finally, Stonepine Capital Management LLC purchased a new stake in shares of Eton Pharmaceuticals in the second quarter valued at about $362,000. 27.86% of the stock is owned by institutional investors.

About Eton Pharmaceuticals

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.