EyePoint Pharmaceuticals (NASDAQ:EYPT) Trading Down 5.7%

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) dropped 5.7% during mid-day trading on Monday . The company traded as low as $21.04 and last traded at $21.18. Approximately 118,225 shares traded hands during trading, a decline of 88% from the average daily volume of 950,598 shares. The stock had previously closed at $22.45.

Analyst Upgrades and Downgrades

EYPT has been the subject of a number of recent research reports. Mizuho boosted their target price on EyePoint Pharmaceuticals from $30.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. HC Wainwright cut their price target on EyePoint Pharmaceuticals from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Tuesday, January 16th. Capital One Financial restated an “overweight” rating on shares of EyePoint Pharmaceuticals in a report on Friday, February 16th. Finally, JPMorgan Chase & Co. assumed coverage on EyePoint Pharmaceuticals in a research report on Monday, January 22nd. They issued an “overweight” rating and a $35.00 target price for the company. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, EyePoint Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $33.86.

EyePoint Pharmaceuticals Stock Up 2.6 %

The company’s fifty day moving average is $24.31 and its 200-day moving average is $18.25.

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

Insider Buying and Selling at EyePoint Pharmaceuticals

In related news, insider Dario A. Paggiarino sold 49,325 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $25.66, for a total value of $1,265,679.50. Following the transaction, the insider now directly owns 36,505 shares of the company’s stock, valued at approximately $936,718.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other EyePoint Pharmaceuticals news, insider Dario A. Paggiarino sold 5,135 shares of EyePoint Pharmaceuticals stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $25.00, for a total value of $128,375.00. Following the sale, the insider now owns 36,505 shares of the company’s stock, valued at approximately $912,625. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Dario A. Paggiarino sold 49,325 shares of the firm’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $25.66, for a total transaction of $1,265,679.50. Following the completion of the transaction, the insider now directly owns 36,505 shares of the company’s stock, valued at $936,718.30. The disclosure for this sale can be found here. Insiders have sold a total of 56,169 shares of company stock valued at $1,437,509 over the last ninety days. 13.05% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On EyePoint Pharmaceuticals

Institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. raised its position in shares of EyePoint Pharmaceuticals by 41.1% during the 1st quarter. JPMorgan Chase & Co. now owns 15,730 shares of the company’s stock valued at $191,000 after buying an additional 4,578 shares in the last quarter. Bank of New York Mellon Corp raised its position in EyePoint Pharmaceuticals by 5.3% during the first quarter. Bank of New York Mellon Corp now owns 79,407 shares of the company’s stock valued at $966,000 after purchasing an additional 3,985 shares during the period. MetLife Investment Management LLC lifted its stake in shares of EyePoint Pharmaceuticals by 55.5% in the 1st quarter. MetLife Investment Management LLC now owns 12,835 shares of the company’s stock valued at $156,000 after purchasing an additional 4,582 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of EyePoint Pharmaceuticals by 33.8% in the 1st quarter. Rhumbline Advisers now owns 29,463 shares of the company’s stock worth $358,000 after purchasing an additional 7,438 shares during the period. Finally, BlackRock Inc. increased its position in shares of EyePoint Pharmaceuticals by 5.9% during the 1st quarter. BlackRock Inc. now owns 1,526,153 shares of the company’s stock valued at $18,543,000 after purchasing an additional 85,522 shares during the last quarter. Institutional investors own 99.41% of the company’s stock.

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.