Eyepoint Pharmaceuticals (NASDAQ:EYPT) Shares Down 4.4% – What’s Next?

Shares of Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) dropped 4.4% during mid-day trading on Wednesday . The stock traded as low as $14.03 and last traded at $14.2520. Approximately 1,498,688 shares were traded during trading, an increase of 16% from the average daily volume of 1,297,213 shares. The stock had previously closed at $14.91.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on EYPT. Cantor Fitzgerald upgraded shares of Eyepoint Pharmaceuticals to a “strong-buy” rating in a research note on Tuesday, November 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research note on Thursday, January 22nd. Royal Bank Of Canada increased their price target on shares of Eyepoint Pharmaceuticals from $28.00 to $39.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Finally, TD Cowen upgraded shares of Eyepoint Pharmaceuticals to a “strong-buy” rating in a report on Friday, December 19th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $29.25.

Eyepoint Pharmaceuticals Stock Down 3.7%

The company has a market cap of $1.19 billion, a PE ratio of -4.80 and a beta of 1.76. The company’s fifty day moving average is $15.80 and its 200-day moving average is $13.84.

Insider Activity

In related news, insider Ramiro Ribeiro sold 42,544 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $17.10, for a total value of $727,502.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 4.46% of the company’s stock.

Institutional Trading of Eyepoint Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of EYPT. Cyndeo Wealth Partners LLC grew its position in shares of Eyepoint Pharmaceuticals by 3.4% during the fourth quarter. Cyndeo Wealth Partners LLC now owns 22,990 shares of the company’s stock worth $420,000 after purchasing an additional 760 shares in the last quarter. California State Teachers Retirement System grew its holdings in shares of Eyepoint Pharmaceuticals by 20.6% in the fourth quarter. California State Teachers Retirement System now owns 4,654 shares of the company’s stock valued at $85,000 after purchasing an additional 794 shares in the last quarter. RWC Asset Management LLP increased its position in Eyepoint Pharmaceuticals by 6.4% in the fourth quarter. RWC Asset Management LLP now owns 17,235 shares of the company’s stock worth $315,000 after purchasing an additional 1,040 shares during the last quarter. MCF Advisors LLC raised its stake in Eyepoint Pharmaceuticals by 8.3% during the fourth quarter. MCF Advisors LLC now owns 14,921 shares of the company’s stock valued at $273,000 after purchasing an additional 1,149 shares in the last quarter. Finally, Raymond James Financial Inc. lifted its position in Eyepoint Pharmaceuticals by 11.0% during the second quarter. Raymond James Financial Inc. now owns 11,900 shares of the company’s stock valued at $112,000 after purchasing an additional 1,177 shares during the last quarter. 99.41% of the stock is owned by hedge funds and other institutional investors.

About Eyepoint Pharmaceuticals

Eyepoint Pharmaceuticals, Inc is a biopharmaceutical company focused on the development and commercialization of therapies for the treatment of ocular diseases. The company’s proprietary platform centers on sustained-release formulations designed to improve drug delivery to the posterior segment of the eye, addressing conditions that often require repeated intravitreal injections or intensive topical regimens. Eyepoint’s commercial strategy combines in-house sales and marketing capabilities with targeted partnerships to bring its therapies to ophthalmologists and retina specialists across the United States.

Eyepoint’s lead products include YUTIQ, a fluocinolone acetonide intravitreal implant indicated for the prevention of relapse in non-infectious uveitis affecting the posterior segment of the eye, and DEXYCU, a dexamethasone intraocular suspension approved for postoperative inflammation following ocular surgery.