Informed Momentum Co LLC Has $1.01 Million Stake in Eton Pharmaceuticals, Inc. (NASDAQ:ETON)

Key Points

• Informed Momentum Co LLC has reduced its position in Eton Pharmaceuticals by 18.1%, owning 77,833 shares after selling 17,186 shares in Q1, valued at approximately $1,010,000.
• Eton Pharmaceuticals reported a net loss of ($0.10) earnings per share for the last quarter, which missed analysts' expectations by ($0.09), despite revenue of $18.93 million exceeding forecasts.
• The company's stock has fluctuated significantly in the past year, with a 52-week low of $3.66 and a high of $21.48, currently trading at $17.32.

Informed Momentum Co LLC reduced its position in shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON - Free Report) by 18.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 77,833 shares of the company's stock after selling 17,186 shares during the period. Informed Momentum Co LLC owned 0.29% of Eton Pharmaceuticals worth $1,010,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Tower Research Capital LLC TRC acquired a new position in shares of Eton Pharmaceuticals in the fourth quarter valued at approximately $86,000. Jefferies Financial Group Inc. acquired a new position in shares of Eton Pharmaceuticals in the fourth quarter valued at approximately $133,000. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of Eton Pharmaceuticals by 18.3% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 10,561 shares of the company's stock valued at $141,000 after purchasing an additional 1,634 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Eton Pharmaceuticals in the fourth quarter valued at approximately $147,000. Finally, Bank of America Corp DE grew its holdings in shares of Eton Pharmaceuticals by 5,422.4% in the fourth quarter. Bank of America Corp DE now owns 11,100 shares of the company's stock valued at $148,000 after purchasing an additional 10,899 shares in the last quarter. 27.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Eton Pharmaceuticals news, insider David Krempa sold 10,223 shares of Eton Pharmaceuticals stock in a transaction on Monday, June 16th. The shares were sold at an average price of $14.73, for a total value of $150,584.79. Following the completion of the transaction, the insider owned 612,646 shares of the company's stock, valued at $9,024,275.58. The trade was a 1.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders have sold a total of 34,000 shares of company stock valued at $504,318 in the last three months. 16.03% of the stock is currently owned by insiders.

Eton Pharmaceuticals Trading Up 2.0%

Shares of Eton Pharmaceuticals stock traded up $0.34 during mid-day trading on Friday, hitting $17.04. 367,343 shares of the stock were exchanged, compared to its average volume of 370,172. Eton Pharmaceuticals, Inc. has a twelve month low of $3.96 and a twelve month high of $21.48. The stock has a market capitalization of $457.01 million, a price-to-earnings ratio of -106.50 and a beta of 1.13. The company has a 50-day simple moving average of $14.83 and a 200 day simple moving average of $15.49. The company has a current ratio of 1.77, a quick ratio of 1.16 and a debt-to-equity ratio of 1.14.

Eton Pharmaceuticals (NASDAQ:ETON - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.09). Eton Pharmaceuticals had a negative net margin of 7.10% and a negative return on equity of 0.73%. The business had revenue of $18.93 million during the quarter, compared to analysts' expectations of $16.71 million. Research analysts forecast that Eton Pharmaceuticals, Inc. will post -0.14 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ETON shares. B. Riley reiterated a "buy" rating and issued a $26.00 price target (up previously from $24.00) on shares of Eton Pharmaceuticals in a research note on Friday, May 16th. HC Wainwright reiterated a "buy" rating and issued a $35.00 price target (up previously from $33.00) on shares of Eton Pharmaceuticals in a research note on Thursday, May 29th. Wall Street Zen downgraded shares of Eton Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Craig Hallum boosted their price objective on shares of Eton Pharmaceuticals from $26.00 to $28.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th.

Eton Pharmaceuticals 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.