Eton Pharmaceuticals, Inc. (NASDAQ:ETON) Short Interest Up 32.6% in November

Eton Pharmaceuticals, Inc. (NASDAQ:ETON - Get Free Report) saw a significant growth in short interest during the month of November. As of November 30th, there was short interest totalling 273,900 shares, a growth of 32.6% from the November 15th total of 206,500 shares. Based on an average daily trading volume, of 219,900 shares, the days-to-cover ratio is presently 1.2 days. Currently, 1.1% of the company's shares are sold short.

Eton Pharmaceuticals Stock Performance

Shares of NASDAQ:ETON traded up $0.19 during trading on Friday, hitting $12.35. The company's stock had a trading volume of 117,055 shares, compared to its average volume of 107,284. Eton Pharmaceuticals has a fifty-two week low of $3.03 and a fifty-two week high of $13.98. The business has a 50 day moving average price of $9.91 and a two-hundred day moving average price of $6.17. The company has a market capitalization of $319.12 million, a PE ratio of -56.14 and a beta of 1.39.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Eton Pharmaceuticals

In other news, major shareholder Opaleye Management Inc. purchased 11,248 shares of the firm's stock in a transaction on Monday, October 7th. The shares were bought at an average cost of $7.22 per share, for a total transaction of $81,210.56. Following the completion of the purchase, the insider now directly 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 ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 14.89% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nantahala Capital Management LLC acquired a new stake in Eton Pharmaceuticals in the 2nd quarter valued at about $3,095,000. Wasatch Advisors LP purchased a new stake in shares of Eton Pharmaceuticals during the third quarter worth approximately $1,431,000. Aristides Capital LLC acquired a new stake in Eton Pharmaceuticals in the second quarter valued at approximately $658,000. Thompson Siegel & Walmsley LLC purchased a new position in Eton Pharmaceuticals in the second quarter worth approximately $420,000. Finally, Stonepine Capital Management LLC purchased a new position in Eton Pharmaceuticals in the second quarter worth approximately $362,000. 27.86% of the stock is currently owned by hedge funds and other 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.