EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Sees Significant Growth in Short Interest

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) saw a significant growth in short interest in December. As of December 31st, there was short interest totalling 10,340,000 shares, a growth of 9.9% from the December 15th total of 9,410,000 shares. Based on an average trading volume of 956,300 shares, the days-to-cover ratio is presently 10.8 days.

Institutional Investors Weigh In On EyePoint Pharmaceuticals

Hedge funds have recently bought and sold shares of the stock. Franklin Resources Inc. raised its stake in EyePoint Pharmaceuticals by 9.9% in the 3rd quarter. Franklin Resources Inc. now owns 4,012,048 shares of the company’s stock worth $32,056,000 after purchasing an additional 362,399 shares in the last quarter. Patient Square Capital LP acquired a new stake in shares of EyePoint Pharmaceuticals in the third quarter valued at approximately $10,882,000. Geode Capital Management LLC boosted its stake in shares of EyePoint Pharmaceuticals by 16.1% in the third quarter. Geode Capital Management LLC now owns 1,199,056 shares of the company’s stock valued at $9,583,000 after buying an additional 166,699 shares during the period. Deerfield Management Company L.P. Series C grew its position in EyePoint Pharmaceuticals by 51.4% during the second quarter. Deerfield Management Company L.P. Series C now owns 877,790 shares of the company’s stock worth $7,637,000 after buying an additional 298,196 shares in the last quarter. Finally, Fiera Capital Corp increased its stake in EyePoint Pharmaceuticals by 0.9% during the 2nd quarter. Fiera Capital Corp now owns 677,038 shares of the company’s stock worth $5,890,000 after acquiring an additional 5,920 shares during the period. 99.41% of the stock is currently owned by institutional investors and hedge funds.

EyePoint Pharmaceuticals Price Performance

EYPT stock traded up $0.21 during midday trading on Monday, reaching $7.48. 564,887 shares of the company were exchanged, compared to its average volume of 778,205. EyePoint Pharmaceuticals has a one year low of $6.90 and a one year high of $30.99. The firm has a market capitalization of $510.51 million, a price-to-earnings ratio of -3.74 and a beta of 1.49. The business has a 50-day moving average price of $8.40 and a two-hundred day moving average price of $8.96.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $22.00 price objective on shares of EyePoint Pharmaceuticals in a research report on Thursday, December 5th. Chardan Capital increased their price objective on EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Citigroup started coverage on EyePoint Pharmaceuticals in a research report on Tuesday, January 7th. They issued a “buy” rating and a $33.00 target price on the stock. Robert W. Baird reduced their price target on EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating for the company in a research report on Monday, November 11th. Finally, Scotiabank began coverage on shares of EyePoint Pharmaceuticals in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $18.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, EyePoint Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $26.63.

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.