Second Sight Medical Products Target of Unusually High Options Trading (NASDAQ:EYES)

Second Sight Medical Products, Inc. (NASDAQ:EYES) was the recipient of some unusual options trading on Wednesday. Investors acquired 24,228 call options on the stock. This represents an increase of 1,091% compared to the average volume of 2,035 call options.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Squarepoint Ops LLC bought a new position in shares of Second Sight Medical Products in the fourth quarter worth approximately $29,000. Jane Street Group LLC bought a new position in shares of Second Sight Medical Products in the fourth quarter worth approximately $40,000. Renaissance Technologies LLC bought a new position in shares of Second Sight Medical Products in the fourth quarter worth approximately $48,000. Stratos Wealth Partners LTD. purchased a new stake in Second Sight Medical Products in the first quarter worth approximately $129,000. Finally, BlackRock Inc. boosted its stake in Second Sight Medical Products by 874.2% in the first quarter. BlackRock Inc. now owns 378,036 shares of the medical device company’s stock worth $3,119,000 after buying an additional 339,232 shares in the last quarter. Hedge funds and other institutional investors own 4.07% of the company’s stock.

Shares of EYES traded up $1.38 during midday trading on Wednesday, hitting $6.38. 1,786,452 shares of the company traded hands, compared to its average volume of 17,949,088. The stock has a 50-day moving average of $7.77 and a 200-day moving average of $4.10. Second Sight Medical Products has a one year low of $0.69 and a one year high of $20.00. The firm has a market cap of $178.06 million, a P/E ratio of -3.04 and a beta of 2.49.

About Second Sight Medical Products

Second Sight Medical Products, Inc develops, manufactures, and markets implantable visual prosthetics that are intended to deliver artificial vision to blind individuals. It develops technologies to treat the population of sight-impaired individuals. The company offers the Orion Visual Cortical Prosthesis System, an implanted cortical stimulation device, which is intended to provide useful artificial vision to individuals who are blind due to various causes, including glaucoma, diabetic retinopathy, optic nerve injury or disease, and eye injury.

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