Eyepoint Pharmaceuticals (NASDAQ:EYPT) Trading Down 4.6% – Here’s Why

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT)’s stock price dropped 4.6% during trading on Friday . The company traded as low as $16.27 and last traded at $16.29. Approximately 424,970 shares were traded during mid-day trading, a decline of 51% from the average daily volume of 864,833 shares. The stock had previously closed at $17.08.

Wall Street Analysts Forecast Growth

EYPT has been the subject of several research reports. Mizuho set a $28.00 target price on shares of Eyepoint Pharmaceuticals in a research report on Monday, October 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research report on Wednesday, October 8th. Cantor Fitzgerald upgraded Eyepoint Pharmaceuticals to a “strong-buy” rating in a research report on Tuesday, November 25th. Royal Bank Of Canada increased their price target on shares of Eyepoint Pharmaceuticals from $28.00 to $39.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Finally, TD Cowen raised shares of Eyepoint Pharmaceuticals to a “strong-buy” rating in a research note on Friday, December 19th. Two equities 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $29.25.

Eyepoint Pharmaceuticals Stock Performance

The firm has a 50-day moving average of $15.41 and a 200-day moving average of $13.00. The firm has a market capitalization of $1.34 billion, a P/E ratio of -5.43 and a beta of 1.63.

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

Insiders Place Their Bets

In other Eyepoint Pharmaceuticals news, insider Ramiro Ribeiro sold 42,544 shares of the firm’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $17.10, for a total value of $727,502.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 4.46% of the stock is owned by insiders.

Institutional Trading of Eyepoint Pharmaceuticals

Several large investors have recently modified their holdings of the business. Corient Private Wealth LLC bought a new position in Eyepoint Pharmaceuticals during the 2nd quarter valued at approximately $1,200,000. Walleye Capital LLC increased its stake 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 valued at $1,877,000 after buying an additional 166,243 shares during the period. XTX Topco Ltd raised its holdings in shares of Eyepoint Pharmaceuticals by 215.4% during the second 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. R Squared Ltd purchased a new stake in Eyepoint Pharmaceuticals in the second quarter worth $100,000. Finally, Stempoint Capital LP bought a new stake in Eyepoint Pharmaceuticals in the second quarter valued at $3,098,000. 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.