EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Short Interest Down 7.6% in February

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPTGet Free Report) was the target of a significant decrease in short interest during the month of February. As of February 15th, there was short interest totalling 4,750,000 shares, a decrease of 7.6% from the January 31st total of 5,140,000 shares. Based on an average daily volume of 1,640,000 shares, the days-to-cover ratio is currently 2.9 days.

Insider Buying and Selling

In other news, major shareholder Cormorant Asset Management, Lp purchased 588,235 shares of the company’s stock in a transaction on Friday, December 8th. The shares were purchased at an average cost of $17.00 per share, with a total value of $9,999,995.00. Following the completion of the transaction, the insider now owns 6,038,235 shares of the company’s stock, valued at approximately $102,649,995. The transaction was disclosed in a filing with the SEC, which is available through this link. In other EyePoint Pharmaceuticals news, Director Ye Liu sold 266,242 shares of the company’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $18.41, for a total transaction of $4,901,515.22. Following the sale, the director now directly owns 2,010,721 shares of the company’s stock, valued at $37,017,373.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Cormorant Asset Management, Lp purchased 588,235 shares of the company’s stock in a transaction on Friday, December 8th. The shares were purchased at an average cost of $17.00 per share, for a total transaction of $9,999,995.00. Following the completion of the transaction, the insider now directly owns 6,038,235 shares of the company’s stock, valued at approximately $102,649,995. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 1,443,235 shares of company stock worth $27,051,095 and sold 2,257,282 shares worth $44,011,561. 13.05% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On EyePoint Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. grew its stake in EyePoint Pharmaceuticals by 41.1% during the first quarter. JPMorgan Chase & Co. now owns 15,730 shares of the company’s stock worth $191,000 after buying an additional 4,578 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of EyePoint Pharmaceuticals by 5.3% in the 1st quarter. Bank of New York Mellon Corp now owns 79,407 shares of the company’s stock valued at $966,000 after purchasing an additional 3,985 shares in the last quarter. MetLife Investment Management LLC boosted its stake in shares of EyePoint Pharmaceuticals by 55.5% in the 1st quarter. MetLife Investment Management LLC now owns 12,835 shares of the company’s stock valued at $156,000 after purchasing an additional 4,582 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of EyePoint Pharmaceuticals by 33.8% in the 1st quarter. Rhumbline Advisers now owns 29,463 shares of the company’s stock valued at $358,000 after purchasing an additional 7,438 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in EyePoint Pharmaceuticals by 5.9% in the 1st quarter. BlackRock Inc. now owns 1,526,153 shares of the company’s stock valued at $18,543,000 after buying an additional 85,522 shares during the last quarter. 99.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. HC Wainwright dropped their price objective on shares of EyePoint Pharmaceuticals from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Tuesday, January 16th. Capital One Financial reissued an “overweight” rating on shares of EyePoint Pharmaceuticals in a research report on Friday, February 16th. Mizuho increased their price objective on shares of EyePoint Pharmaceuticals from $30.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Finally, JPMorgan Chase & Co. assumed coverage on shares of EyePoint Pharmaceuticals in a research report on Monday, January 22nd. They issued an “overweight” rating and a $35.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $33.86.

Check Out Our Latest Report on EYPT

EyePoint Pharmaceuticals Stock Performance

Shares of EYPT stock traded down $2.09 on Monday, hitting $25.91. The company’s stock had a trading volume of 2,005,642 shares, compared to its average volume of 1,074,487. The stock’s 50 day moving average is $25.34 and its 200-day moving average is $15.62. EyePoint Pharmaceuticals has a fifty-two week low of $2.21 and a fifty-two week high of $30.99. The company has a market capitalization of $1.22 billion, a PE ratio of -9.43 and a beta of 1.66.

EyePoint Pharmaceuticals Company Profile

(Get Free Report)

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.

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