Investors Buy High Volume of Put Options on Eyepoint Pharmaceuticals (NASDAQ:EYPT)

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) was the target of some unusual options trading activity on Thursday. Stock traders acquired 2,380 put options on the company. This is an increase of 73% compared to the average daily volume of 1,378 put options.

Eyepoint Pharmaceuticals Price Performance

EYPT traded up $1.27 during trading on Friday, hitting $14.75. The company had a trading volume of 2,509,632 shares, compared to its average volume of 1,711,833. Eyepoint Pharmaceuticals has a 1-year low of $9.65 and a 1-year high of $19.11. The company has a market cap of $1.27 billion, a PE ratio of -3.94 and a beta of 1.76. The business has a 50-day moving average of $13.23 and a 200-day moving average of $13.71.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($1.09) earnings per share for the quarter, missing the consensus estimate of ($1.01) by ($0.08). The company had revenue of $0.51 million for the quarter, compared to analyst estimates of $0.45 million. Eyepoint Pharmaceuticals had a negative return on equity of 135.81% and a negative net margin of 10,994.73%. Research analysts forecast that Eyepoint Pharmaceuticals will post -3.6 earnings per share for the current year.

Institutional Trading of Eyepoint Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Suvretta Capital Management LLC lifted its holdings in Eyepoint Pharmaceuticals by 26.4% during the 4th quarter. Suvretta Capital Management LLC now owns 7,827,685 shares of the company’s stock worth $143,012,000 after buying an additional 1,634,970 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its position in shares of Eyepoint Pharmaceuticals by 9.7% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 6,800,000 shares of the company’s stock worth $63,988,000 after acquiring an additional 600,000 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of Eyepoint Pharmaceuticals by 36.3% in the 4th quarter. Federated Hermes Inc. now owns 6,017,433 shares of the company’s stock valued at $109,938,000 after acquiring an additional 1,601,101 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Eyepoint Pharmaceuticals by 19.3% in the 4th quarter. Franklin Resources Inc. now owns 4,976,915 shares of the company’s stock valued at $90,928,000 after acquiring an additional 805,031 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Eyepoint Pharmaceuticals by 27.1% during the 4th quarter. Vanguard Group Inc. now owns 4,822,139 shares of the company’s stock valued at $88,100,000 after acquiring an additional 1,027,623 shares in the last quarter. 99.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. HC Wainwright cut their price objective on shares of Eyepoint Pharmaceuticals from $30.00 to $27.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Cantor Fitzgerald lifted their target price on Eyepoint Pharmaceuticals from $47.00 to $55.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research note on Friday, July 17th. Chardan Capital reissued a “buy” rating and issued a $65.00 price target on shares of Eyepoint Pharmaceuticals in a report on Friday, August 7th. Finally, Stifel Nicolaus initiated coverage on Eyepoint Pharmaceuticals in a research note on Thursday, July 16th. They set a “buy” rating and a $40.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $44.38.

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.