EyePoint Pharmaceuticals (NASDAQ:EYPT) Stock Price Down 5.4% – Here’s What Happened

Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) traded down 5.4% during mid-day trading on Monday . The company traded as low as $11.30 and last traded at $11.41. 66,126 shares changed hands during trading, a decline of 93% from the average session volume of 943,198 shares. The stock had previously closed at $12.06.

Wall Street Analyst Weigh In

EYPT has been the subject of a number of recent research reports. JPMorgan Chase & Co. dropped their target price on EyePoint Pharmaceuticals from $32.00 to $29.00 and set an “overweight” rating for the company in a report on Tuesday, August 13th. Jefferies Financial Group started coverage on shares of EyePoint Pharmaceuticals in a research report on Wednesday, August 28th. They set a “buy” rating and a $15.00 price objective on the stock. Scotiabank assumed coverage on shares of EyePoint Pharmaceuticals in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $18.00 target price for the company. HC Wainwright reiterated a “buy” rating and set a $30.00 price target on shares of EyePoint Pharmaceuticals in a report on Friday, October 25th. Finally, Chardan Capital reissued a “buy” rating and issued a $28.00 price objective on shares of EyePoint Pharmaceuticals in a research report on Tuesday, October 29th. One analyst has rated the stock with a sell rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.00.

EyePoint Pharmaceuticals Price Performance

The business has a fifty day moving average of $9.22 and a 200-day moving average of $10.16. The stock has a market cap of $638.47 million, a PE ratio of -6.70 and a beta of 1.50.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.03). The firm had revenue of $9.48 million during the quarter, compared to the consensus estimate of $11.61 million. EyePoint Pharmaceuticals had a negative net margin of 172.29% and a negative return on equity of 43.24%. As a group, equities research analysts predict that EyePoint Pharmaceuticals, Inc. will post -2.33 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. raised its holdings in EyePoint Pharmaceuticals by 44.0% in the first quarter. Ameritas Investment Partners Inc. now owns 3,719 shares of the company’s stock worth $77,000 after purchasing an additional 1,136 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in shares of EyePoint Pharmaceuticals by 68.2% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 10,293 shares of the company’s stock worth $82,000 after buying an additional 4,172 shares during the last quarter. Greenwich Wealth Management LLC raised its stake in shares of EyePoint Pharmaceuticals by 8.3% during the 3rd quarter. Greenwich Wealth Management LLC now owns 11,700 shares of the company’s stock worth $93,000 after acquiring an additional 900 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in EyePoint Pharmaceuticals by 271.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,888 shares of the company’s stock valued at $95,000 after acquiring an additional 7,953 shares during the last quarter. Finally, Cyndeo Wealth Partners LLC acquired a new stake in EyePoint Pharmaceuticals in the third quarter valued at approximately $100,000. 99.41% of the stock is owned by institutional investors.

About EyePoint Pharmaceuticals

EyePoint Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, engages in developing and commercializing therapeutics to improve the lives of patients with serious retinal diseases. The company's pipeline leverages its proprietary bioerodible Durasert E technology for sustained intraocular drug delivery.