EyePoint Pharmaceuticals (NASDAQ:EYPT) Shares Down 6.6%

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

Analyst Upgrades and Downgrades

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

EyePoint Pharmaceuticals Trading Up 3.7 %

The firm’s 50 day moving average is $22.68 and its two-hundred day moving average is $18.57. The firm has a market cap of $834.65 million, a P/E ratio of -9.15 and a beta of 1.64.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last released its quarterly earnings data on Thursday, March 7th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $8.71 million. During the same quarter last year, the firm earned ($0.61) EPS. Analysts predict that EyePoint Pharmaceuticals, Inc. will post -1.73 EPS for the current fiscal year.

Insider Buying and Selling at EyePoint Pharmaceuticals

In other EyePoint Pharmaceuticals news, major shareholder Cormorant Asset Management, Lp acquired 581,765 shares of the stock in a transaction dated Thursday, April 18th. The shares were bought at an average cost of $18.03 per share, for a total transaction of $10,489,222.95. Following the completion of the acquisition, the insider now directly owns 7,475,000 shares of the company’s stock, valued at $134,774,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 13.05% of the company’s stock.

Hedge Funds Weigh In On EyePoint Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the company. Woodstock Corp increased its holdings in EyePoint Pharmaceuticals by 38.3% during the first quarter. Woodstock Corp now owns 30,778 shares of the company’s stock worth $636,000 after buying an additional 8,525 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of EyePoint Pharmaceuticals in the fourth quarter valued at $3,166,000. Sierra Summit Advisors LLC acquired a new position in shares of EyePoint Pharmaceuticals in the fourth quarter valued at $523,000. PFM Health Sciences LP acquired a new position in shares of EyePoint Pharmaceuticals in the fourth quarter valued at $3,949,000. Finally, Artia Global Partners LP acquired a new position in shares of EyePoint Pharmaceuticals in the fourth quarter valued at $1,156,000. 99.41% of the stock is currently owned by institutional investors and hedge funds.

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.