Eyepoint Pharmaceuticals (NASDAQ:EYPT) Shares Up 6% – Here’s What Happened

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) rose 6% during mid-day trading on Monday . The company traded as high as $16.37 and last traded at $16.2450. Approximately 317,711 shares changed hands during trading, a decline of 76% from the average daily volume of 1,323,280 shares. The stock had previously closed at $15.33.

Wall Street Analysts Forecast Growth

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

Eyepoint Pharmaceuticals Stock Up 4.2%

The company has a fifty day moving average price of $15.75 and a 200 day moving average price of $14.05. The stock has a market cap of $1.47 billion, a PE ratio of -5.94 and a beta of 1.76.

Insider Buying and Selling

In related news, insider Ramiro Ribeiro sold 42,544 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $17.10, for a total transaction of $727,502.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.46% of the stock is owned by corporate insiders.

Institutional Trading of Eyepoint Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC raised its holdings in Eyepoint Pharmaceuticals by 1,636.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,900 shares of the company’s stock worth $27,000 after purchasing an additional 2,733 shares in the last quarter. Franklin Resources Inc. raised its stake in Eyepoint Pharmaceuticals by 3.6% in the second quarter. Franklin Resources Inc. now owns 4,301,123 shares of the company’s stock worth $40,474,000 after buying an additional 151,262 shares in the last quarter. Rhumbline Advisers lifted its holdings in Eyepoint Pharmaceuticals by 11.0% in the second quarter. Rhumbline Advisers now owns 96,280 shares of the company’s stock worth $906,000 after buying an additional 9,548 shares during the period. American Century Companies Inc. boosted its position in Eyepoint Pharmaceuticals by 57.8% during the 2nd quarter. American Century Companies Inc. now owns 67,612 shares of the company’s stock valued at $636,000 after acquiring an additional 24,752 shares in the last quarter. Finally, XTX Topco Ltd boosted its position in Eyepoint Pharmaceuticals by 215.4% during the 2nd quarter. XTX Topco Ltd now owns 137,950 shares of the company’s stock valued at $1,298,000 after acquiring an additional 94,210 shares in the last quarter. Institutional investors own 99.41% of the company’s stock.

Eyepoint Pharmaceuticals Company Profile

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.