EyePoint Pharmaceuticals (NASDAQ:EYPT) Shares Gap Down to $19.74

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $19.74, but opened at $13.89. EyePoint Pharmaceuticals shares last traded at $12.99, with a volume of 4,364,816 shares changing hands.

Analysts Set New Price Targets

EYPT has been the subject of a number of research analyst reports. HC Wainwright decreased their target price on EyePoint Pharmaceuticals from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Tuesday, January 16th. Capital One Financial reissued an “overweight” rating on shares of EyePoint Pharmaceuticals in a report on Friday, February 16th. Mizuho lifted their price objective on shares of EyePoint Pharmaceuticals from $30.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Finally, JPMorgan Chase & Co. assumed coverage on shares of EyePoint Pharmaceuticals in a research report on Monday, January 22nd. They issued an “overweight” rating and a $35.00 price objective on the stock. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, EyePoint Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $34.00.

EyePoint Pharmaceuticals Stock Performance

The firm’s fifty day simple moving average is $21.60 and its 200-day simple moving average is $19.14. The stock has a market cap of $583.30 million, a P/E ratio of -6.10 and a beta of 1.70.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last released its earnings results on Thursday, March 7th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.60) by $0.27. The business had revenue of $14.03 million during the quarter, compared to analysts’ expectations of $8.71 million. EyePoint Pharmaceuticals had a negative return on equity of 61.48% and a negative net margin of 153.84%. During the same quarter last year, the firm posted ($0.61) earnings per share. Analysts predict that EyePoint Pharmaceuticals, Inc. will post -1.73 earnings per share for the current fiscal year.

Insider Activity

In other EyePoint Pharmaceuticals news, major shareholder Cormorant Asset Management, Lp purchased 581,765 shares of the firm’s stock in a transaction on Thursday, April 18th. The stock was acquired at an average price of $18.03 per share, for a total transaction of $10,489,222.95. Following the purchase, the insider now owns 7,475,000 shares of the company’s stock, valued at approximately $134,774,250. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 13.05% of the company’s stock.

Hedge Funds Weigh In On EyePoint Pharmaceuticals

Several large investors have recently bought and sold shares of EYPT. FNY Investment Advisers LLC bought a new stake in EyePoint Pharmaceuticals during the fourth quarter worth $27,000. China Universal Asset Management Co. Ltd. purchased a new position in shares of EyePoint Pharmaceuticals in the 4th quarter worth about $94,000. Sherbrooke Park Advisers LLC purchased a new stake in EyePoint Pharmaceuticals during the third quarter worth about $101,000. Tower Research Capital LLC TRC increased its holdings in EyePoint Pharmaceuticals by 36.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,724 shares of the company’s stock worth $109,000 after buying an additional 1,250 shares during the last quarter. Finally, Toth Financial Advisory Corp raised its position in EyePoint Pharmaceuticals by 42.9% in the fourth quarter. Toth Financial Advisory Corp now owns 5,000 shares of the company’s stock worth $116,000 after acquiring an additional 1,500 shares during the period. 99.41% of the stock is currently owned by institutional investors.

EyePoint Pharmaceuticals Company Profile

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.