Eyepoint Pharmaceuticals (NASDAQ:EYPT) Stock Price Down 4.7% – Should You Sell?

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) shares traded down 4.7% during trading on Wednesday . The company traded as low as $17.21 and last traded at $17.45. 651,042 shares were traded during mid-day trading, a decline of 53% from the average session volume of 1,392,438 shares. The stock had previously closed at $18.32.

Wall Street Analyst Weigh In

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

Eyepoint Pharmaceuticals Trading Down 0.9%

The company has a market cap of $1.50 billion, a PE ratio of -6.07 and a beta of 1.72. The company’s 50 day moving average is $15.76 and its 200 day moving average is $14.28.

Insiders Place Their Bets

In other Eyepoint Pharmaceuticals news, insider Ramiro Ribeiro sold 42,544 shares of the business’s stock in a transaction that occurred 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 filing with the SEC, which is available at this link. 4.46% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Nisa Investment Advisors LLC raised its position in shares of Eyepoint Pharmaceuticals by 1,636.5% during 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 during the last quarter. State of Alaska Department of Revenue purchased a new position in shares of Eyepoint Pharmaceuticals during the 3rd quarter worth $50,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Eyepoint Pharmaceuticals by 51.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,023 shares of the company’s stock worth $74,000 after acquiring an additional 1,358 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Eyepoint Pharmaceuticals in the third quarter valued at $76,000. Finally, Tower Research Capital LLC TRC increased its stake in Eyepoint Pharmaceuticals by 218.3% during the second quarter. Tower Research Capital LLC TRC now owns 8,700 shares of the company’s stock worth $82,000 after purchasing an additional 5,967 shares during the period. Institutional investors and hedge funds 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.