EyePoint Pharmaceuticals (NASDAQ:EYPT) Trading Down 6.4%
EyePoint Pharmaceuticals (NASDAQ:EYPT) shares dropped 6.4% during mid-day trading, with a decline in trading volume. Analysts have revised the price target for the stock, and the company's recent earnings report showed a negative net margin. Insider activity includes a director selling shares and a major shareholder acquiring shares. Hedge funds and institutional investors have also been buying and selling shares. The stock's 50-day moving average is $16.50.
Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Get Free Report) dropped 6.4% during mid-day trading on Monday . The stock traded as low as $9.96 and last traded at $10.02. Approximately 436,621 shares were traded during trading, a decline of 60% from the average daily volume of 1,101,198 shares. The stock had previously closed at $10.71.
Analyst Ratings Changes
EYPT has been the topic of several research reports. Chardan Capital dropped their price objective on EyePoint Pharmaceuticals from $39.00 to $28.00 and set a "buy" rating on the stock in a report on Tuesday, May 7th. Robert W. Baird lowered their price target on EyePoint Pharmaceuticals from $46.00 to $38.00 and set an "outperform" rating on the stock in a report on Wednesday, May 8th. Capital One Financial reissued an "overweight" rating on shares of EyePoint Pharmaceuticals in a report on Friday, February 16th. Mizuho lowered their price target on EyePoint Pharmaceuticals from $39.00 to $30.00 and set a "buy" rating on the stock in a report on Tuesday, May 7th. Finally, StockNews.com lowered EyePoint Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Thursday, May 9th. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $33.71.
View Our Latest Stock Analysis on EyePoint Pharmaceuticals
EyePoint Pharmaceuticals Stock Performance
The stock's 50-day moving average price is $16.50 and its 200-day moving average price is $19.82. The company has a market capitalization of $514.55 million, a price-to-earnings ratio of -5.45 and a beta of 1.59.
EyePoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.21). EyePoint Pharmaceuticals had a negative net margin of 157.77% and a negative return on equity of 49.94%. The company had revenue of $11.68 million for the quarter, compared to analyst estimates of $12.50 million. Analysts anticipate that EyePoint Pharmaceuticals, Inc. will post -2.14 earnings per share for the current year.
Insider Activity
In other news, Director David R. Guyer sold 11,625 shares of EyePoint Pharmaceuticals stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $12.65, for a total transaction of $147,056.25. Following the completion of the sale, the director now directly owns 5,550 shares in the company, valued at approximately $70,207.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director David R. Guyer sold 11,625 shares of EyePoint Pharmaceuticals stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $12.65, for a total transaction of $147,056.25. Following the completion of the transaction, the director now directly owns 5,550 shares in the company, valued at approximately $70,207.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Cormorant Asset Management, Lp acquired 850,000 shares of the business's stock in a transaction that occurred on Monday, May 6th. The shares were bought at an average price of $11.86 per share, with a total value of $10,081,000.00. Following the completion of the transaction, the insider now directly owns 8,325,000 shares in the company, valued at $98,734,500. The disclosure for this purchase can be found here. Insiders own 4.74% of the company's stock.
Institutional Trading of EyePoint Pharmaceuticals
Hedge funds and other institutional investors have recently bought and sold shares of the company. FNY Investment Advisers LLC purchased a new stake in EyePoint Pharmaceuticals in the 4th quarter worth approximately $27,000. Ameritas Investment Partners Inc. grew its stake in shares of EyePoint Pharmaceuticals by 44.0% during the 1st quarter. Ameritas Investment Partners Inc. now owns 3,719 shares of the company's stock valued at $77,000 after buying an additional 1,136 shares during the period. China Universal Asset Management Co. Ltd. purchased a new stake in shares of EyePoint Pharmaceuticals during the 4th quarter valued at $94,000. Sherbrooke Park Advisers LLC purchased a new stake in shares of EyePoint Pharmaceuticals during the 3rd quarter valued at $101,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of EyePoint Pharmaceuticals by 36.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,724 shares of the company's stock valued at $109,000 after buying an additional 1,250 shares during the period. 99.41% of the stock is owned by hedge funds and other institutional investors.
About EyePoint Pharmaceuticals
(Get Free Report)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.
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