EyePoint Pharmaceuticals (NASDAQ:EYPT) Stock Price Down 5.4% – Time to Sell?

Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) were down 5.4% on Monday . The stock traded as low as $11.30 and last traded at $11.41. Approximately 66,126 shares traded hands during trading, a decline of 93% from the average daily volume of 943,198 shares. The stock had previously closed at $12.06.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on EYPT shares. HC Wainwright reiterated a “buy” rating and issued a $30.00 price target on shares of EyePoint Pharmaceuticals in a research note on Friday, October 25th. JPMorgan Chase & Co. lowered their target price on shares of EyePoint Pharmaceuticals from $32.00 to $29.00 and set an “overweight” rating for the company in a research note on Tuesday, August 13th. StockNews.com raised shares of EyePoint Pharmaceuticals to a “sell” rating in a report on Saturday, September 21st. Chardan Capital reiterated a “buy” rating and set a $28.00 price objective on shares of EyePoint Pharmaceuticals in a research note on Tuesday, October 29th. Finally, Scotiabank initiated coverage on EyePoint Pharmaceuticals in a research report on Wednesday, October 16th. They issued a “sector outperform” rating and a $18.00 target price on the stock. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, EyePoint Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $29.00.

EyePoint Pharmaceuticals Stock Performance

The company has a market capitalization of $638.47 million, a PE ratio of -6.70 and a beta of 1.50. The company has a 50 day simple moving average of $9.22 and a 200 day simple moving average of $10.16.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last issued its earnings results on Wednesday, August 7th. The company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.03). EyePoint Pharmaceuticals had a negative return on equity of 43.24% and a negative net margin of 172.29%. The company had revenue of $9.48 million for the quarter, compared to analyst estimates of $11.61 million. As a group, equities research analysts anticipate that EyePoint Pharmaceuticals, Inc. will post -2.33 EPS for the current year.

Hedge Funds Weigh In On EyePoint Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the company. Ameritas Investment Partners Inc. increased its holdings in shares of 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 buying an additional 1,136 shares during the last quarter. ProShare Advisors LLC acquired a new position in shares of EyePoint Pharmaceuticals in the 1st quarter valued at $209,000. China Universal Asset Management Co. Ltd. increased its position in shares of EyePoint Pharmaceuticals by 68.2% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 10,293 shares of the company’s stock worth $82,000 after purchasing an additional 4,172 shares during the last quarter. Greenwich Wealth Management LLC purchased a new stake in EyePoint Pharmaceuticals in the 2nd quarter valued at about $94,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in EyePoint Pharmaceuticals by 271.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,888 shares of the company’s stock valued at $95,000 after buying an additional 7,953 shares during the last quarter. 99.41% of the stock is currently owned by institutional investors and hedge funds.

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.