Investors Purchase Large Volume of Eyepoint Pharmaceuticals Put Options (NASDAQ:EYPT)

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) was the recipient of some unusual options trading on Tuesday. Investors acquired 5,005 put options on the stock. This is an increase of approximately 568% compared to the typical daily volume of 749 put options.

Eyepoint Pharmaceuticals Price Performance

Shares of Eyepoint Pharmaceuticals stock traded down $0.60 during trading on Tuesday, hitting $13.84. The stock had a trading volume of 929,529 shares, compared to its average volume of 1,211,140. The firm has a market cap of $1.16 billion, a P/E ratio of -3.96 and a beta of 1.73. The business has a fifty day moving average of $13.17 and a two-hundred day moving average of $14.46. Eyepoint Pharmaceuticals has a fifty-two week low of $9.40 and a fifty-two week high of $19.11.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last released its earnings results on Wednesday, May 6th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.20). Eyepoint Pharmaceuticals had a negative return on equity of 110.54% and a negative net margin of 3,566.63%.The firm had revenue of $0.70 million for the quarter, compared to analyst estimates of $0.35 million. As a group, research analysts forecast that Eyepoint Pharmaceuticals will post -3.09 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on EYPT. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a report on Tuesday, April 21st. Guggenheim reissued a “buy” rating and set a $68.00 target price on shares of Eyepoint Pharmaceuticals in a research note on Wednesday, June 24th. Royal Bank Of Canada dropped their price target on shares of Eyepoint Pharmaceuticals from $39.00 to $37.00 and set an “outperform” rating on the stock in a research report on Thursday, May 7th. Chardan Capital upped their price target on shares of Eyepoint Pharmaceuticals from $29.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. Finally, Citigroup increased their price objective on shares of Eyepoint Pharmaceuticals from $31.00 to $35.00 and gave the company a “buy” rating in a report on Monday, March 9th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $43.83.

Insider Transactions at Eyepoint Pharmaceuticals

In other Eyepoint Pharmaceuticals news, insider Ramiro Ribeiro sold 2,437 shares of the business’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $15.00, for a total transaction of $36,555.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.13% of the company’s stock.

Institutional Trading of Eyepoint Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Jefferies Financial Group Inc. purchased a new stake in shares of Eyepoint Pharmaceuticals during the third quarter valued at $1,994,000. Aberdeen Group plc increased its stake in Eyepoint Pharmaceuticals by 101.6% in the 4th quarter. Aberdeen Group plc now owns 1,605,984 shares of the company’s stock worth $29,341,000 after purchasing an additional 809,182 shares in the last quarter. Simplify Asset Management Inc. increased its stake in Eyepoint Pharmaceuticals by 314.9% in the 4th quarter. Simplify Asset Management Inc. now owns 375,264 shares of the company’s stock worth $6,856,000 after purchasing an additional 284,824 shares in the last quarter. Rosalind Advisors Inc. acquired a new stake in Eyepoint Pharmaceuticals during the 3rd quarter worth about $9,256,000. Finally, Vanguard Group Inc. raised its holdings in Eyepoint Pharmaceuticals by 27.1% during the 4th quarter. Vanguard Group Inc. now owns 4,822,139 shares of the company’s stock worth $88,100,000 after buying an additional 1,027,623 shares during the period. 99.41% of the stock is currently owned by institutional investors.

Eyepoint Pharmaceuticals Company Profile

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.