EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Short Interest Down 15.2% in April

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) was the target of a large drop in short interest in the month of April. As of April 15th, there was short interest totalling 560,300 shares, a drop of 15.2% from the March 31st total of 660,700 shares. Approximately 2.6% of the company’s shares are short sold. Based on an average daily trading volume, of 332,200 shares, the days-to-cover ratio is presently 1.7 days.

Shares of NASDAQ EYPT opened at $10.62 on Tuesday. The stock has a market capitalization of $305.23 million, a price-to-earnings ratio of -3.12 and a beta of 1.62. The business has a 50-day moving average of $10.24 and a 200-day moving average of $8.41. The company has a debt-to-equity ratio of 6.69, a current ratio of 3.68 and a quick ratio of 3.40. EyePoint Pharmaceuticals has a fifty-two week low of $3.51 and a fifty-two week high of $15.06.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last posted its quarterly earnings results on Wednesday, March 3rd. The company reported ($1.07) EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($1.52). EyePoint Pharmaceuticals had a negative return on equity of 434.26% and a negative net margin of 112.23%. The business had revenue of $7.13 million for the quarter, compared to the consensus estimate of $24.08 million. On average, sell-side analysts expect that EyePoint Pharmaceuticals will post -1.89 EPS for the current year.

A number of research firms have issued reports on EYPT. B. Riley increased their target price on EyePoint Pharmaceuticals from $5.00 to $8.50 and gave the stock a “buy” rating in a report on Tuesday, January 12th. Cowen began coverage on EyePoint Pharmaceuticals in a report on Monday, March 1st. They set an “outperform” rating and a $25.00 target price for the company. Cantor Fitzgerald began coverage on EyePoint Pharmaceuticals in a report on Wednesday, January 27th. They set an “overweight” rating and a $22.00 target price for the company. Zacks Investment Research upgraded EyePoint Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 10th. Finally, HC Wainwright restated a “buy” rating and issued a $16.00 price objective on shares of EyePoint Pharmaceuticals in a report on Friday, January 29th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $15.30.

Hedge funds have recently modified their holdings of the business. Virtu Financial LLC acquired a new stake in EyePoint Pharmaceuticals during the third quarter worth approximately $30,000. Cedar Mountain Advisors LLC lifted its position in EyePoint Pharmaceuticals by 450.0% during the fourth quarter. Cedar Mountain Advisors LLC now owns 11,000 shares of the company’s stock worth $72,000 after acquiring an additional 9,000 shares during the last quarter. Financial Advisory Service Inc. acquired a new stake in EyePoint Pharmaceuticals during the fourth quarter worth approximately $100,000. Renaissance Technologies LLC acquired a new stake in EyePoint Pharmaceuticals during the fourth quarter worth approximately $117,000. Finally, Janus Henderson Group PLC acquired a new stake in shares of EyePoint Pharmaceuticals in the fourth quarter valued at approximately $136,000.

EyePoint Pharmaceuticals Company Profile

EyePoint Pharmaceuticals, Inc, a pharmaceutical company, develops and commercializes ophthalmic products for the treatment of eye diseases in the United States, China, and the United Kingdom. The company provides ILUVIEN, an injectable sustained-release micro-insert for treatment of diabetic macular edema; YUTIQ, a fluocinolone acetonide intravitreal implant for intravitreal injection for the treatment of chronic non-infectious uveitis affecting the posterior segment of the eye; and DEXYCU, a dexamethasone intraocular suspension, for the treatment of post-operative ocular inflammation, including treatment following cataract surgery.

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