Eton Pharmaceuticals, Inc. (NASDAQ:ETON – Get Free Report) was the target of a significant increase in short interest in June. As of June 15th, there was short interest totalling 78,700 shares, an increase of 44.1% from the May 31st total of 54,600 shares. Based on an average daily trading volume, of 51,500 shares, the days-to-cover ratio is currently 1.5 days. Currently, 0.3% of the shares of the stock are sold short.
Institutional Trading of Eton Pharmaceuticals
Institutional investors have recently modified their holdings of the company. Bailard Inc. purchased a new position in shares of Eton Pharmaceuticals during the fourth quarter valued at approximately $99,000. Victory Capital Management Inc. bought a new position in shares of Eton Pharmaceuticals during the fourth quarter valued at $123,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Eton Pharmaceuticals in the 3rd quarter worth about $160,000. Acadian Asset Management LLC bought a new position in Eton Pharmaceuticals in the 3rd quarter worth about $403,000. Finally, Westside Investment Management Inc. grew its position in Eton Pharmaceuticals by 1.9% during the 1st 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 last quarter. 27.86% of the stock is currently owned by hedge funds and other institutional investors.
Eton Pharmaceuticals Stock Up 3.3 %
NASDAQ:ETON traded up $0.11 during midday trading on Monday, hitting $3.40. The company had a trading volume of 25,494 shares, compared to its average volume of 59,922. The company has a market capitalization of $87.35 million, a PE ratio of 85.00 and a beta of 1.27. Eton Pharmaceuticals has a 52-week low of $2.42 and a 52-week high of $5.81. The stock’s fifty day moving average price is $3.52 and its 200-day moving average price is $3.98.
Analysts Set New Price Targets
Separately, Craig Hallum began coverage on Eton Pharmaceuticals in a report on Monday, May 6th. They issued a “buy” rating and a $8.00 price target on the stock.
Get Our Latest Research Report on Eton Pharmaceuticals
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.
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