Second Sight Medical Products Inc. [NASDAQ: EYES] stock went on an upward path that rose over 0.95% on Wednesday, amounting to a one-week price decrease of less than -17.83%. The company report on August 11, 2021 that Second Sight Medical Products Announces a New NIH Grant Supplement for Its Orion Study.
Grant proceeds support a patient preference information study of Orion subjects.
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Second Sight Medical Products, Inc. (NASDAQ: EYES) (the “Company” or “Second Sight”), a leading developer of implantable visual prosthetics that are intended to create an artificial form of useful vision for blind individuals, announces that the Company received a grant supplement from the National Institutes of Health (NIH) to fund a qualitative study to gather critical insights into how profoundly blind people weigh the risks and benefits of visual neuroprostheses. The study will help the Company better understand acceptable risks, necessary benefits, and appropriate risk/benefit balance for visual cortical prostheses, from the perspective of the target population. The entirety of the $155,964 grant supplement will be provided to UCLA as a subcontractor to conduct the study. The grant supplement is related to the $6.4 million NIH grant for the Early Feasibility Clinical Trial of a Visual Cortical Prosthesis, grant UH3NS103442. Second Sight reported promising two-year data from the Orion trial on May 12, 2021.
Over the last 12 months, EYES stock rose by 143.06%. The average equity rating for EYES stock is currently 2.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $83.53 million, with 39.41 million shares outstanding and 29.46 million shares in the current float. Compared to the average trading volume of 1.15M shares, EYES stock reached a trading volume of 804399 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Second Sight Medical Products Inc. [EYES]:
Dougherty & Company have made an estimate for Second Sight Medical Products Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 13, 2019. While these analysts kept the previous recommendation, H.C. Wainwright raised their target price to Buy. The new note on the price target was released on July 06, 2015, representing the official price target for Second Sight Medical Products Inc. stock.
The Average True Range (ATR) for Second Sight Medical Products Inc. is set at 0.22 The Price to Book ratio for the last quarter was 1.20, with the Price to Cash per share for the same quarter was set at 1.83.
EYES Stock Performance Analysis:
Second Sight Medical Products Inc. [EYES] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -17.83. With this latest performance, EYES shares dropped by -24.01% in over the last four-week period, additionally sinking by -58.75% over the last 6 months – not to mention a rise of 143.06% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for EYES stock in for the last two-week period is set at 34.28, with the RSI for the last a single of trading hit 32.43, and the three-weeks RSI is set at 35.46 for Second Sight Medical Products Inc. [EYES]. The present Moving Average for the last 50 days of trading for this stock 2.91, while it was recorded at 2.20 for the last single week of trading, and 5.01 for the last 200 days.
Insight into Second Sight Medical Products Inc. Fundamentals:
Return on Total Capital for EYES is now -222.13, given the latest momentum, and Return on Invested Capital for the company is -331.85. Return on Equity for this stock declined to -450.70, with Return on Assets sitting at -141.32. Additionally, EYES Total Debt to Total Capital is recorded at 143.98, with Total Debt to Total Assets ending up at 49.33.
Reflecting on the efficiency of the workforce at the company, Second Sight Medical Products Inc. [EYES] managed to generate an average of -$1,240,000 per employee.Second Sight Medical Products Inc.’s liquidity data is similarly interesting compelling, with a Current Ratio set at 18.70.
EYES Stock EPS
With the latest financial reports released by the company, Second Sight Medical Products Inc. posted -0.48/share EPS, while the average EPS was predicted by analysts to be reported at -0.48/share. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for EYES.
Second Sight Medical Products Inc. [EYES] Insider Position Details
There are presently around $6 million, or 15.50% of EYES stock, in the hands of institutional investors. The top three institutional holders of EYES stocks are: VANGUARD GROUP INC with ownership of 1,167,752, which is approximately 0.464% of the company’s market cap and around 26.23% of the total institutional ownership; SABBY MANAGEMENT, LLC, holding 291,973 shares of the stock with an approximate value of $0.62 million in EYES stocks shares; and HUDSON BAY CAPITAL MANAGEMENT LP, currently with $0.32 million in EYES stock with ownership of nearly -60.462% of the company’s market capitalization.
Positions in Second Sight Medical Products Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 19 institutional holders increased their position in Second Sight Medical Products Inc. [NASDAQ:EYES] by around 668,043 shares. Additionally, 27 investors decreased positions by around 1,723,668 shares, while 9 investors held positions by with 436,539 shares. The mentioned changes placed institutional holdings at 2,828,250 shares, according to the latest SEC report filing. EYES stock had 10 new institutional investments in for a total of 297,431 shares, while 16 institutional investors sold positions of 736,961 shares during the same period.