EyePoint Pharmaceuticals (NASDAQ:EYPT) Stock Price Down 3.4% After Insider Selling

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT)’s share price traded down 3.4% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $10.18 and last traded at $10.18. 105,380 shares were traded during mid-day trading, a decline of 90% from the average session volume of 1,066,885 shares. The stock had previously closed at $10.54.

Specifically, major shareholder Cormorant Asset Management, Lp acquired 850,000 shares of the stock in a transaction on Monday, May 6th. The shares were acquired at an average price of $11.86 per share, for a total transaction of $10,081,000.00. Following the transaction, the insider now owns 8,325,000 shares in the company, valued at approximately $98,734,500. The purchase was disclosed in a filing with the SEC, which is available through this link. In related news, Director David R. Guyer sold 11,625 shares of EyePoint Pharmaceuticals stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $10.06, for a total value of $116,947.50. Following the completion of the transaction, the director now owns 1,850 shares in the company, valued at approximately $18,611. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Cormorant Asset Management, Lp purchased 850,000 shares of EyePoint Pharmaceuticals stock in a transaction that occurred on Monday, May 6th. The stock was acquired at an average cost of $11.86 per share, with a total value of $10,081,000.00. Following the acquisition, the insider now directly owns 8,325,000 shares in the company, valued at approximately $98,734,500. The disclosure for this purchase can be found here. Company insiders own 4.74% of the company’s stock.

Analyst Upgrades and Downgrades

EYPT has been the topic of a number of recent analyst reports. Robert W. Baird decreased their target price on EyePoint Pharmaceuticals from $46.00 to $38.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 8th. JPMorgan Chase & Co. cut their target price on shares of EyePoint Pharmaceuticals from $35.00 to $32.00 and set an “overweight” rating for the company in a research note on Tuesday, June 4th. Chardan Capital reaffirmed a “buy” rating and issued a $28.00 price target on shares of EyePoint Pharmaceuticals in a research note on Friday, June 28th. HC Wainwright reiterated a “buy” rating and set a $30.00 price objective on shares of EyePoint Pharmaceuticals in a research note on Thursday, June 27th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of EyePoint Pharmaceuticals in a research report on Thursday, June 20th. One analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $33.29.

EyePoint Pharmaceuticals Trading Up 1.3 %

The firm’s 50-day moving average price is $9.95 and its two-hundred day moving average price is $18.35.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.21). EyePoint Pharmaceuticals had a negative return on equity of 49.94% and a negative net margin of 157.77%. The firm had revenue of $11.68 million for the quarter, compared to analyst estimates of $12.50 million. Analysts expect that EyePoint Pharmaceuticals, Inc. will post -2.21 earnings per share for the current year.

Institutional Investors Weigh In On EyePoint Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Deutsche Bank AG lifted its stake in EyePoint Pharmaceuticals by 4.0% during the third quarter. Deutsche Bank AG now owns 21,764 shares of the company’s stock worth $174,000 after purchasing an additional 830 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings 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 buying an additional 882 shares during the period. Ameritas Investment Partners Inc. lifted its stake in EyePoint Pharmaceuticals by 44.0% during the 1st quarter. Ameritas Investment Partners Inc. now owns 3,719 shares of the company’s stock worth $77,000 after acquiring an additional 1,136 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in EyePoint Pharmaceuticals during the 4th quarter worth about $27,000. Finally, Tower Research Capital LLC TRC boosted its holdings in EyePoint Pharmaceuticals by 36.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,724 shares of the company’s stock valued at $109,000 after acquiring an additional 1,250 shares during the period. Hedge funds and other institutional investors own 99.41% of the company’s stock.

About EyePoint Pharmaceuticals

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.