EyePoint Pharmaceuticals (NASDAQ:EYPT) Trading Down 6.6%

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) dropped 6.6% on Wednesday . The stock traded as low as $16.35 and last traded at $16.41. Approximately 183,520 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 988,294 shares. The stock had previously closed at $17.57.

Analyst Ratings Changes

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

EyePoint Pharmaceuticals Stock Down 6.3 %

The firm has a 50-day moving average price of $23.19 and a two-hundred day moving average price of $18.60. The firm has a market cap of $820.70 million, a PE ratio of -8.96 and a beta of 1.64.

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

Insider Transactions at EyePoint Pharmaceuticals

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

Institutional Investors Weigh In On EyePoint Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Jennison Associates LLC purchased a new stake in shares of EyePoint Pharmaceuticals during the 4th quarter worth approximately $24,641,000. Franklin Resources Inc. lifted its position in EyePoint Pharmaceuticals by 11.8% in the fourth quarter. Franklin Resources Inc. now owns 4,640,651 shares of the company’s stock valued at $107,245,000 after acquiring an additional 488,206 shares during the last quarter. Federated Hermes Inc. boosted its stake in EyePoint Pharmaceuticals by 194.0% in the fourth quarter. Federated Hermes Inc. now owns 674,824 shares of the company’s stock valued at $15,595,000 after acquiring an additional 445,289 shares in the last quarter. UBS Group AG grew its holdings in shares of EyePoint Pharmaceuticals by 487.6% during the third quarter. UBS Group AG now owns 526,848 shares of the company’s stock worth $4,210,000 after purchasing an additional 437,190 shares during the last quarter. Finally, First Turn Management LLC acquired a new stake in shares of EyePoint Pharmaceuticals during the fourth quarter worth about $7,326,000. Institutional investors and hedge funds 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.