Eton Pharmaceuticals, Inc. (NASDAQ:ETON) Shares Sold by Informed Momentum Co LLC

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 lessened its stake 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 filing with the Securities & 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 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Nantahala Capital Management LLC raised its position in shares of Eton Pharmaceuticals by 12.0% during the 4th quarter. Nantahala Capital Management LLC now owns 1,118,483 shares of the company's stock worth $14,898,000 after purchasing an additional 119,750 shares during the last quarter. Mink Brook Asset Management LLC acquired a new position in shares of Eton Pharmaceuticals during the 4th quarter worth about $6,071,000. Parkman Healthcare Partners LLC raised its position in shares of Eton Pharmaceuticals by 6.4% during the 4th quarter. Parkman Healthcare Partners LLC now owns 276,890 shares of the company's stock worth $3,688,000 after purchasing an additional 16,664 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Eton Pharmaceuticals by 8.2% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 232,532 shares of the company's stock worth $3,018,000 after purchasing an additional 17,654 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Eton Pharmaceuticals by 131.5% during the 4th quarter. Renaissance Technologies LLC now owns 193,100 shares of the company's stock worth $2,572,000 after purchasing an additional 109,700 shares during the last quarter. Institutional investors and hedge funds own 27.86% of the company's stock.

Eton Pharmaceuticals Trading Up 2.0%

Shares of NASDAQ ETON traded up $0.34 during midday trading on Friday, reaching $17.04. 367,343 shares of the stock were exchanged, compared to its average volume of 386,694. The company has a 50 day simple moving average of $14.83 and a 200 day simple moving average of $15.47. The stock has a market capitalization of $457.01 million, a P/E ratio of -106.50 and a beta of 1.13. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.16 and a current ratio of 1.77. Eton Pharmaceuticals, Inc. has a twelve month low of $3.96 and a twelve month high of $21.48.

Eton Pharmaceuticals (NASDAQ:ETON - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.09). The firm had revenue of $18.93 million for the quarter, compared to analyst estimates of $16.71 million. Eton Pharmaceuticals had a negative return on equity of 0.73% and a negative net margin of 7.10%. As a group, equities analysts expect that Eton Pharmaceuticals, Inc. will post -0.14 earnings per share for the current year.

Insider Transactions at Eton Pharmaceuticals

In other Eton Pharmaceuticals news, insider David Krempa sold 10,223 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $14.73, for a total value of $150,584.79. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 34,000 shares of company stock valued at $504,318 over the last 90 days. 16.03% of the stock is owned by insiders.

Analyst Ratings Changes

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

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.