Eton Pharmaceuticals, Inc. (NASDAQ:ETON) Short Interest Update

Eton Pharmaceuticals, Inc. (NASDAQ:ETON) saw a significant decline in short interest in October. As of October 31st, there was short interest totalling 191,900 shares, a decline 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 currently 1.2 days. Currently, 0.8% of the shares of the stock are short sold.

Insider Activity

In other news, major shareholder Opaleye Management Inc. acquired 16,852 shares of Eton Pharmaceuticals stock in a transaction on Friday, October 4th. The shares were purchased at an average cost of $6.77 per share, for a total transaction of $114,088.04. Following the completion of the purchase, the insider now directly owns 2,720,000 shares of the company’s stock, valued at approximately $18,414,400. This represents a 0.62 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders acquired 85,600 shares of company stock worth $462,674. Corporate insiders own 14.89% of the company’s stock.

Institutional Inflows and Outflows

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

Analyst Upgrades and Downgrades

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

Eton Pharmaceuticals Stock Up 0.1 %

Shares of ETON opened at $10.03 on Tuesday. Eton Pharmaceuticals has a 12-month low of $3.03 and a 12-month high of $11.11. The business has a 50-day simple moving average of $7.50 and a two-hundred day simple moving average of $5.04.

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.