EyePoint Pharmaceuticals (NASDAQ:EYPT) Sees Strong Trading Volume

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) shares saw unusually-high trading volume on Thursday . Approximately 2,164,401 shares traded hands during trading, an increase of 126% from the previous session’s volume of 957,865 shares.The stock last traded at $19.27 and had previously closed at $20.94.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Mizuho lifted their target price on EyePoint Pharmaceuticals from $30.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, February 16th. HC Wainwright lowered their price objective on shares of 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 reiterated an “overweight” rating on shares of EyePoint Pharmaceuticals in a research note on Friday, February 16th. Finally, JPMorgan Chase & Co. initiated coverage on shares of EyePoint Pharmaceuticals in a research note on Monday, January 22nd. They set 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 assigned a buy rating to the company. According to MarketBeat, EyePoint Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $33.86.

EyePoint Pharmaceuticals Stock Down 11.3 %

The stock has a market cap of $925.84 million, a P/E ratio of -9.96 and a beta of 1.64. The firm’s 50-day moving average is $24.14 and its two-hundred day moving average is $18.27.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last released its quarterly earnings results on Thursday, March 7th. The company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.27. The business had revenue of $14.03 million for the quarter, compared to the consensus estimate 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 quarter last year, the firm earned ($0.61) EPS. Analysts anticipate that EyePoint Pharmaceuticals, Inc. will post -1.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On EyePoint Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC increased its position in shares of EyePoint Pharmaceuticals by 533.4% during the fourth quarter. Barclays PLC now owns 7,005 shares of the company’s stock valued at $25,000 after purchasing an additional 5,899 shares during the period. FNY Investment Advisers LLC acquired a new position in shares of EyePoint Pharmaceuticals in the 4th quarter valued at $27,000. Toth Financial Advisory Corp lifted its holdings in shares of EyePoint Pharmaceuticals by 250.0% during the 3rd quarter. Toth Financial Advisory Corp now owns 3,500 shares of the company’s stock worth $28,000 after acquiring an additional 2,500 shares during the period. Schonfeld Strategic Advisors LLC acquired a new stake in shares of EyePoint Pharmaceuticals during the 4th quarter valued at about $36,000. Finally, Tower Research Capital LLC TRC boosted its position in shares of EyePoint Pharmaceuticals by 99.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 4,605 shares of the company’s stock valued at $37,000 after acquiring an additional 2,294 shares in the last quarter. 99.41% of the stock is currently owned by institutional investors.

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.