Short Interest in Eton Pharmaceuticals, Inc. (NASDAQ:ETON) Expands By 7.6%

Eton Pharmaceuticals, Inc. (NASDAQ:ETON - Get Free Report) was the recipient of a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 206,500 shares, a growth of 7.6% from the October 31st total of 191,900 shares. Based on an average daily trading volume, of 202,000 shares, the short-interest ratio is presently 1.0 days. Approximately 0.8% of the company's shares are sold short.

Eton Pharmaceuticals Stock Down 5.1 %

Shares of Eton Pharmaceuticals stock traded down $0.64 during trading on Tuesday, hitting $11.82. The company's stock had a trading volume of 324,456 shares, compared to its average volume of 105,675. Eton Pharmaceuticals has a 52 week low of $3.03 and a 52 week high of $13.98. The company has a fifty day simple moving average of $8.80 and a two-hundred day simple moving average of $5.62.

Insider Activity

In related news, major shareholder Opaleye Management Inc. bought 11,248 shares of the business's stock in a transaction dated Monday, October 7th. The shares were purchased at an average price of $7.22 per share, with a total value of $81,210.56. Following the purchase, the insider now owns 2,730,000 shares of the company's stock, valued at approximately $19,710,600. This trade represents a 0.41 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have acquired 85,600 shares of company stock valued at $462,674. Company insiders own 14.89% of the company's stock.

Hedge Funds Weigh In On Eton Pharmaceuticals

Several large investors have recently made changes to their positions in ETON. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Eton Pharmaceuticals in the 3rd quarter worth approximately $54,000. Jane Street Group LLC bought a new stake in 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 acquiring an additional 30,167 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Eton Pharmaceuticals by 63.8% during the second quarter. Renaissance Technologies LLC now owns 106,500 shares of the company's stock valued at $350,000 after acquiring an additional 41,469 shares in the last quarter. Finally, Stonepine Capital Management LLC purchased a new position in shares of Eton Pharmaceuticals in the 2nd quarter worth about $362,000. 27.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ETON. HC Wainwright restated a "buy" rating and issued a $15.00 price objective (up from $11.00) on shares of Eton Pharmaceuticals in a report on Tuesday, November 26th. Craig Hallum raised their target price on Eton Pharmaceuticals from $10.00 to $15.00 and gave the company a "buy" rating in a research note on Monday, October 28th.

Eton Pharmaceuticals Company Profile

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.