EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Sees Large Increase in Short Interest

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) was the recipient of a significant increase in short interest during the month of June. As of June 30th, there was short interest totalling 9,630,000 shares, an increase of 7.2% from the June 15th total of 8,980,000 shares. Based on an average daily volume of 1,130,000 shares, the short-interest ratio is presently 8.5 days.

Insider Buying and Selling at EyePoint Pharmaceuticals

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

Institutional Investors Weigh In On EyePoint Pharmaceuticals

Large investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. grew its position in shares of 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 purchasing an additional 488,206 shares during the last quarter. Vanguard Group Inc. grew its holdings in EyePoint Pharmaceuticals by 17.8% in the 1st quarter. Vanguard Group Inc. now owns 2,396,228 shares of the company’s stock valued at $49,530,000 after buying an additional 362,168 shares during the last quarter. Jennison Associates LLC bought a new position in EyePoint Pharmaceuticals in the 4th quarter worth approximately $24,641,000. RA Capital Management L.P. acquired a new position in shares of EyePoint Pharmaceuticals during the first quarter worth approximately $19,401,000. Finally, Federated Hermes Inc. boosted its position in shares of 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 during the period. Institutional investors own 99.41% of the company’s stock.

EyePoint Pharmaceuticals Stock Down 8.5 %

EYPT stock opened at $8.85 on Friday. The company has a market capitalization of $460.91 million, a price-to-earnings ratio of -4.86 and a beta of 1.58. The firm has a 50 day moving average of $9.87 and a two-hundred day moving average of $18.28. EyePoint Pharmaceuticals has a 12 month low of $5.67 and a 12 month high of $30.99.

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on EYPT shares. StockNews.com lowered shares of EyePoint Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, May 9th. Mizuho decreased their price objective on shares of EyePoint Pharmaceuticals from $39.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, May 7th. HC Wainwright reissued a “buy” rating and set a $30.00 target price on shares of EyePoint Pharmaceuticals in a report on Thursday, June 27th. Chardan Capital reaffirmed a “buy” rating and set a $28.00 price target on shares of EyePoint Pharmaceuticals in a research note on Friday, June 28th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of EyePoint Pharmaceuticals in a research report on Thursday, June 20th. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $33.29.

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.