Eyepoint Pharmaceuticals (NASDAQ:EYPT) Sees Large Volume Increase – What’s Next?

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) shares saw unusually-strong trading volume on Tuesday . Approximately 2,108,103 shares were traded during mid-day trading, an increase of 103% from the previous session’s volume of 1,037,497 shares.The stock last traded at $15.38 and had previously closed at $12.94.

Analyst Upgrades and Downgrades

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

Eyepoint Pharmaceuticals Stock Up 2.4%

The stock has a fifty day moving average price of $15.76 and a two-hundred day moving average price of $13.84. The company has a market cap of $1.22 billion, a price-to-earnings ratio of -4.92 and a beta of 1.76.

Insider Buying and Selling at Eyepoint Pharmaceuticals

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. lifted its stake in Eyepoint Pharmaceuticals by 16.6% during the fourth quarter. Invesco Ltd. now owns 339,004 shares of the company’s stock worth $6,194,000 after purchasing an additional 48,186 shares during the last quarter. Virtus Investment Advisers LLC raised its holdings in shares of Eyepoint Pharmaceuticals by 29.5% during the 4th quarter. Virtus Investment Advisers LLC now owns 16,638 shares of the company’s stock worth $304,000 after buying an additional 3,795 shares in the last quarter. Susquehanna Portfolio Strategies LLC raised its holdings in shares of Eyepoint Pharmaceuticals by 22.5% during the 4th quarter. Susquehanna Portfolio Strategies LLC now owns 74,944 shares of the company’s stock worth $1,369,000 after buying an additional 13,750 shares in the last quarter. Suvretta Capital Management LLC lifted its position in shares of Eyepoint Pharmaceuticals by 26.4% during the 4th quarter. Suvretta Capital Management LLC now owns 7,827,685 shares of the company’s stock worth $143,012,000 after buying an additional 1,634,970 shares during the last quarter. Finally, Orbimed Advisors LLC boosted its stake in Eyepoint Pharmaceuticals by 37.4% in the fourth quarter. Orbimed Advisors LLC now owns 2,468,314 shares of the company’s stock valued at $45,096,000 after buying an additional 672,314 shares in the last quarter. 99.41% of the stock is owned by 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.