EyePoint Pharmaceuticals (NASDAQ:EYPT) Reaches New 1-Year Low – Here’s What Happened

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT)’s stock price reached a new 52-week low during trading on Wednesday . The stock traded as low as $6.55 and last traded at $8.10, with a volume of 1428357 shares traded. The stock had previously closed at $7.62.

Wall Street Analyst Weigh In

EYPT has been the subject of several analyst reports. HC Wainwright restated a “buy” rating and set a $22.00 price target on shares of EyePoint Pharmaceuticals in a report on Thursday, December 5th. Robert W. Baird decreased their price objective on shares of EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Citigroup assumed coverage on EyePoint Pharmaceuticals in a research report on Tuesday, January 7th. They issued a “buy” rating and a $33.00 price target for the company. Scotiabank began coverage on shares of EyePoint Pharmaceuticals in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $18.00 price objective on the stock. Finally, Chardan Capital boosted their price objective on EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. One investment 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.63.

EyePoint Pharmaceuticals Trading Up 9.0 %

The business’s fifty day simple moving average is $7.99 and its two-hundred day simple moving average is $8.84. The stock has a market capitalization of $566.82 million, a P/E ratio of -4.15 and a beta of 1.51.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.06). The firm had revenue of $10.52 million for the quarter, compared to the consensus estimate of $12.35 million. EyePoint Pharmaceuticals had a negative return on equity of 43.01% and a negative net margin of 226.57%. On average, equities research analysts anticipate that EyePoint Pharmaceuticals, Inc. will post -2.13 earnings per share for the current year.

Institutional Trading of EyePoint Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its stake in shares of EyePoint Pharmaceuticals by 22.2% in the 4th quarter. Bank of New York Mellon Corp now owns 204,260 shares of the company’s stock valued at $1,522,000 after purchasing an additional 37,054 shares during the period. Rhumbline Advisers lifted its position in EyePoint Pharmaceuticals by 16.1% in the 4th quarter. Rhumbline Advisers now owns 89,560 shares of the company’s stock worth $667,000 after buying an additional 12,443 shares during the last quarter. Deltec Asset Management LLC purchased a new position in shares of EyePoint Pharmaceuticals in the fourth quarter worth $151,000. abrdn plc purchased a new stake in shares of EyePoint Pharmaceuticals during the fourth quarter worth about $1,719,000. Finally, China Universal Asset Management Co. Ltd. grew its position in shares of EyePoint Pharmaceuticals by 40.6% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 14,472 shares of the company’s stock worth $108,000 after buying an additional 4,179 shares during the last quarter. Institutional investors and hedge funds own 99.41% of the company’s stock.

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.