EyePoint Pharmaceuticals (NASDAQ:EYPT) Stock Price Up 5.9%

Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) were up 5.9% during mid-day trading on Monday . The stock traded as high as $17.84 and last traded at $17.73. Approximately 517,450 shares traded hands during trading, a decline of 48% from the average daily volume of 995,018 shares. The stock had previously closed at $16.75.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on EYPT shares. HC Wainwright dropped their price target on EyePoint Pharmaceuticals from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Tuesday, January 16th. Capital One Financial reissued an “overweight” rating on shares of EyePoint Pharmaceuticals in a research report on Friday, February 16th. Mizuho increased 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. Finally, JPMorgan Chase & Co. initiated coverage on EyePoint Pharmaceuticals in a research report on Monday, January 22nd. They issued an “overweight” rating and a $35.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $34.00.

EyePoint Pharmaceuticals Stock Up 5.3 %

The company has a 50 day moving average price of $22.45 and a 200-day moving average price of $18.77.

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

Insider Transactions at EyePoint Pharmaceuticals

In other news, major shareholder Cormorant Asset Management, Lp bought 581,765 shares of the firm’s stock in a transaction that occurred on Thursday, April 18th. The stock was acquired at an average price of $18.03 per share, with a total value of $10,489,222.95. Following the completion of the purchase, the insider now directly owns 7,475,000 shares of the company’s stock, valued at approximately $134,774,250. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 13.05% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of EYPT. Deutsche Bank AG lifted its holdings in shares of EyePoint Pharmaceuticals by 4.0% during the third quarter. Deutsche Bank AG now owns 21,764 shares of the company’s stock valued at $174,000 after purchasing an additional 830 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of EyePoint Pharmaceuticals by 6.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,584 shares of the company’s stock valued at $360,000 after purchasing an additional 882 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of EyePoint Pharmaceuticals during the fourth quarter valued at $27,000. Tower Research Capital LLC TRC lifted its holdings in shares of EyePoint Pharmaceuticals by 36.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,724 shares of the company’s stock valued at $109,000 after purchasing an additional 1,250 shares during the last quarter. Finally, Toth Financial Advisory Corp lifted its holdings in shares of EyePoint Pharmaceuticals by 42.9% during the fourth quarter. Toth Financial Advisory Corp now owns 5,000 shares of the company’s stock valued at $116,000 after purchasing an additional 1,500 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.