Eyepoint Pharmaceuticals (NASDAQ:EYPT) Shares Down 5.3% – Here’s What Happened

Shares of Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) traded down 5.3% during trading on Friday . The stock traded as low as $15.23 and last traded at $15.4590. 157,300 shares were traded during trading, a decline of 83% from the average session volume of 946,983 shares. The stock had previously closed at $16.33.

Analysts Set New Price Targets

Several analysts have issued reports on the company. TD Cowen upgraded Eyepoint Pharmaceuticals to a “strong-buy” rating in a research note on Friday, December 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research report on Wednesday, October 8th. Cantor Fitzgerald raised shares of Eyepoint Pharmaceuticals to a “strong-buy” rating in a report on Tuesday, November 25th. Mizuho set a $28.00 target price on shares of Eyepoint Pharmaceuticals in a research note on Monday, October 20th. Finally, Royal Bank Of Canada raised their price target on shares of Eyepoint Pharmaceuticals from $28.00 to $39.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $29.25.

Eyepoint Pharmaceuticals Stock Down 7.5%

The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of -5.04 and a beta of 1.63. The firm’s 50 day moving average is $16.14 and its 200 day moving average is $13.34.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.77) by ($0.08). The company had revenue of $0.97 million during the quarter, compared to the consensus estimate of $3.33 million. Eyepoint Pharmaceuticals had a negative net margin of 485.95% and a negative return on equity of 76.13%. On average, sell-side analysts predict that Eyepoint Pharmaceuticals, Inc. will post -2.13 earnings per share for the current year.

Insiders Place Their Bets

In other Eyepoint Pharmaceuticals news, insider Ramiro Ribeiro sold 42,544 shares of the business’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $17.10, for a total transaction of $727,502.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 4.46% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in EYPT. Corient Private Wealth LLC purchased a new position in Eyepoint Pharmaceuticals during the 2nd quarter valued at about $1,200,000. Walleye Capital LLC boosted its holdings in shares of Eyepoint Pharmaceuticals by 500.6% during the second quarter. Walleye Capital LLC now owns 199,449 shares of the company’s stock worth $1,877,000 after purchasing an additional 166,243 shares during the period. XTX Topco Ltd increased its stake in Eyepoint Pharmaceuticals by 215.4% in the 2nd quarter. XTX Topco Ltd now owns 137,950 shares of the company’s stock valued at $1,298,000 after buying an additional 94,210 shares during the period. Stempoint Capital LP acquired a new position in Eyepoint Pharmaceuticals in the 2nd quarter valued at approximately $3,098,000. Finally, R Squared Ltd purchased a new stake in Eyepoint Pharmaceuticals in the 2nd quarter worth approximately $100,000. 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.