Eyepoint Pharmaceuticals (NASDAQ:EYPT) Trading Down 5.3% – Time to Sell?

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 mid-day trading, a decline of 83% from the average session volume of 946,983 shares. The stock had previously closed at $16.33.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on EYPT. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research report on Thursday. Cantor Fitzgerald upgraded Eyepoint Pharmaceuticals to a “strong-buy” rating in a research note on Tuesday, November 25th. Royal Bank Of Canada lifted their price target 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 research report on Friday, December 19th. Finally, Mizuho set a $28.00 price objective on Eyepoint Pharmaceuticals in a research note on Monday, October 20th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Eyepoint Pharmaceuticals presently has a consensus rating of “Buy” and an average price target of $29.25.

Eyepoint Pharmaceuticals Price Performance

The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of -5.08 and a beta of 1.63. The firm’s fifty day moving average price is $16.22 and its 200-day moving average price is $13.41.

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

Insider Buying and Selling at Eyepoint Pharmaceuticals

In other news, insider Ramiro Ribeiro sold 42,544 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $17.10, for a total value of $727,502.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.46% of the company’s stock.

Hedge Funds Weigh In On Eyepoint Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cyndeo Wealth Partners LLC lifted its holdings in shares of Eyepoint Pharmaceuticals by 3.4% during the fourth quarter. Cyndeo Wealth Partners LLC now owns 22,990 shares of the company’s stock worth $420,000 after purchasing an additional 760 shares during the period. Raymond James Financial Inc. raised its position in Eyepoint Pharmaceuticals by 11.0% during the 2nd quarter. Raymond James Financial Inc. now owns 11,900 shares of the company’s stock worth $112,000 after purchasing an additional 1,177 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in Eyepoint Pharmaceuticals by 17.3% during the 3rd quarter. New York State Common Retirement Fund now owns 12,214 shares of the company’s stock worth $174,000 after buying an additional 1,800 shares during the period. Nisa Investment Advisors LLC grew its position in shares of Eyepoint Pharmaceuticals by 1,636.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,900 shares of the company’s stock valued at $27,000 after buying an additional 2,733 shares during the last quarter. Finally, Creative Planning increased its stake in shares of Eyepoint Pharmaceuticals by 18.9% in the third quarter. Creative Planning now owns 22,059 shares of the company’s stock valued at $314,000 after buying an additional 3,505 shares during the period. 99.41% of the stock is currently owned by institutional investors and hedge funds.

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.