EyePoint Pharmaceuticals (NASDAQ:EYPT) Shares Down 6.6%

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT)’s share price traded down 6.6% on Wednesday . The stock traded as low as $16.35 and last traded at $16.41. 183,520 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 988,294 shares. The stock had previously closed at $17.57.

Analyst Ratings Changes

A number of research firms recently issued reports on EYPT. JPMorgan Chase & Co. started coverage on EyePoint Pharmaceuticals in a research report on Monday, January 22nd. They set an “overweight” rating and a $35.00 price objective for the company. Capital One Financial reiterated an “overweight” rating on shares of EyePoint Pharmaceuticals in a report on Friday, February 16th. Mizuho lifted their price target on EyePoint Pharmaceuticals from $30.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Finally, HC Wainwright decreased their target price on EyePoint Pharmaceuticals from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Tuesday, January 16th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, EyePoint Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $34.00.

EyePoint Pharmaceuticals Price Performance

The firm has a market capitalization of $820.70 million, a price-to-earnings ratio of -8.96 and a beta of 1.64. The firm’s fifty day moving average is $23.19 and its 200 day moving average is $18.60.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last posted its quarterly earnings results on Thursday, March 7th. The company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.27. EyePoint Pharmaceuticals had a negative net margin of 153.84% and a negative return on equity of 61.48%. The business had revenue of $14.03 million for the quarter, compared to the consensus estimate of $8.71 million. During the same period in the prior year, the business posted ($0.61) earnings per share. Equities research analysts forecast that EyePoint Pharmaceuticals, Inc. will post -1.73 EPS for the current fiscal year.

Insider Activity

In other EyePoint Pharmaceuticals news, major shareholder Cormorant Asset Management, Lp purchased 581,765 shares of the company’s stock in a transaction on Thursday, April 18th. The shares were bought at an average cost of $18.03 per share, with a total value of $10,489,222.95. Following the transaction, the insider now directly owns 7,475,000 shares in the company, valued at approximately $134,774,250. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In other EyePoint Pharmaceuticals news, major shareholder Cormorant Asset Management, Lp acquired 581,765 shares of the company’s stock in a transaction dated Thursday, April 18th. The stock was bought at an average price of $18.03 per share, for a total transaction of $10,489,222.95. Following the purchase, the insider now owns 7,475,000 shares in the company, valued at approximately $134,774,250. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Dario A. Paggiarino sold 49,325 shares of the stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $25.66, for a total transaction of $1,265,679.50. Following the completion of the transaction, the insider now directly owns 36,505 shares of the company’s stock, valued at approximately $936,718.30. The disclosure for this sale can be found here. Insiders have sold a total of 50,134 shares of company stock valued at $1,286,634 over the last 90 days. 13.05% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EyePoint Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the stock. Deutsche Bank AG increased its holdings in shares of EyePoint Pharmaceuticals by 4.0% in the third quarter. Deutsche Bank AG now owns 21,764 shares of the company’s stock valued at $174,000 after purchasing an additional 830 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of EyePoint Pharmaceuticals by 6.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,584 shares of the company’s stock valued at $360,000 after purchasing an additional 882 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of EyePoint Pharmaceuticals during the 4th quarter worth approximately $27,000. Tower Research Capital LLC TRC raised its stake in shares of EyePoint Pharmaceuticals by 36.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,724 shares of the company’s stock worth $109,000 after buying an additional 1,250 shares during the last quarter. Finally, Toth Financial Advisory Corp lifted its holdings in EyePoint Pharmaceuticals by 42.9% in the fourth quarter. Toth Financial Advisory Corp now owns 5,000 shares of the company’s stock valued at $116,000 after buying an additional 1,500 shares during the period. Institutional investors own 99.41% of the company’s stock.

EyePoint Pharmaceuticals Company Profile

EyePoint Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, engages in developing and commercializing therapeutics to improve the lives of patients with serious retinal diseases. The company's pipeline leverages its proprietary bioerodible Durasert E technology for sustained intraocular drug delivery.