Short Interest in Eton Pharmaceuticals, Inc. (NASDAQ:ETON) Drops By 9.3%

Eton Pharmaceuticals, Inc. (NASDAQ:ETON) was the target of a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 220,400 shares, a decline of 9.3% from the March 15th total of 242,900 shares. Based on an average daily volume of 70,600 shares, the short-interest ratio is presently 3.1 days. Approximately 1.0% of the company’s stock are short sold.

Institutional Trading of Eton Pharmaceuticals

Several hedge funds have recently modified their holdings of ETON. Acuitas Investments LLC grew its stake in shares of Eton Pharmaceuticals by 124.7% during the fourth quarter. Acuitas Investments LLC now owns 492,054 shares of the company’s stock valued at $2,155,000 after purchasing an additional 273,054 shares during the last quarter. EAM Investors LLC acquired a new position in Eton Pharmaceuticals in the third quarter valued at approximately $1,070,000. Ameriprise Financial Inc. acquired a new position in Eton Pharmaceuticals in the third quarter valued at approximately $778,000. Opaleye Management Inc. lifted its holdings in Eton Pharmaceuticals by 4.1% in the fourth quarter. Opaleye Management Inc. now owns 2,529,887 shares of the company’s stock valued at $11,081,000 after buying an additional 99,617 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in Eton Pharmaceuticals in the third quarter valued at approximately $403,000. 27.86% of the stock is owned by institutional investors.

Eton Pharmaceuticals Stock Down 1.6 %

Shares of ETON stock traded down $0.05 on Wednesday, hitting $3.14. The company’s stock had a trading volume of 94,860 shares, compared to its average volume of 69,317. Eton Pharmaceuticals has a fifty-two week low of $2.42 and a fifty-two week high of $5.81. The firm’s fifty day moving average price is $4.06 and its 200-day moving average price is $4.13.

Eton Pharmaceuticals (NASDAQ:ETON) last released its earnings results on Thursday, March 14th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.05). The firm had revenue of $7.31 million for the quarter, compared to analyst estimates of $7.70 million. Eton Pharmaceuticals had a negative return on equity of 6.21% and a negative net margin of 2.96%. Sell-side analysts anticipate that Eton Pharmaceuticals will post 0.26 EPS for the current fiscal year.

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.