EyePoint Pharmaceuticals (NASDAQ:EYPT) Stock Price Down 6.4% – Here’s What Happened

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) shares traded down 6.4% on Thursday . The stock traded as low as $7.71 and last traded at $7.72. 355,060 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 937,968 shares. The stock had previously closed at $8.25.

Analyst Ratings Changes

EYPT has been the topic of several analyst reports. Chardan Capital raised 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. Robert W. Baird decreased their price target on EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating on the stock in a research note on Monday, November 11th. Jefferies Financial Group began coverage on EyePoint Pharmaceuticals in a report on Wednesday, August 28th. They issued a “buy” rating and a $15.00 price target for the company. StockNews.com upgraded shares of EyePoint Pharmaceuticals to a “sell” rating in a report on Saturday, September 21st. Finally, HC Wainwright restated a “buy” rating and issued a $22.00 target price on shares of EyePoint Pharmaceuticals in a report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $25.71.

EyePoint Pharmaceuticals Stock Down 6.0 %

The firm’s 50 day simple moving average is $9.81 and its 200-day simple moving average is $9.21. The company has a market capitalization of $509.15 million, a PE ratio of -3.73 and a beta of 1.45.

Institutional Trading of EyePoint Pharmaceuticals

Large investors have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. boosted its position in shares of EyePoint Pharmaceuticals by 68.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 10,293 shares of the company’s stock worth $82,000 after buying an additional 4,172 shares during the period. Greenwich Wealth Management LLC purchased a new position in EyePoint Pharmaceuticals in the 2nd quarter worth approximately $94,000. Zurcher Kantonalbank Zurich Cantonalbank grew 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 acquiring an additional 7,953 shares in the last quarter. Cyndeo Wealth Partners LLC purchased a new stake in shares of EyePoint Pharmaceuticals during the third quarter valued at approximately $100,000. Finally, Arizona State Retirement System lifted its position in shares of EyePoint Pharmaceuticals by 9.7% during the second quarter. Arizona State Retirement System now owns 13,251 shares of the company’s stock worth $115,000 after purchasing an additional 1,171 shares in 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.