Short Interest in EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Rises By 9.9%

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) was the recipient of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 10,340,000 shares, a growth of 9.9% from the December 15th total of 9,410,000 shares. Based on an average daily trading volume, of 956,300 shares, the days-to-cover ratio is currently 10.8 days.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on EYPT shares. HC Wainwright restated a “buy” rating and issued a $22.00 target price on shares of EyePoint Pharmaceuticals in a report on Thursday, December 5th. Robert W. Baird decreased their price target on EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Chardan Capital raised their price objective on EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Scotiabank initiated coverage on shares of EyePoint Pharmaceuticals in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $18.00 target price for the company. Finally, Citigroup assumed coverage on shares of EyePoint Pharmaceuticals in a report on Tuesday, January 7th. They set a “buy” rating and a $33.00 price target on the stock. One research analyst has rated the stock with a sell rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.63.

EyePoint Pharmaceuticals Price Performance

Shares of EyePoint Pharmaceuticals stock traded up $0.21 on Monday, reaching $7.48. 564,887 shares of the company traded hands, compared to its average volume of 778,205. The firm has a market capitalization of $510.51 million, a PE ratio of -3.74 and a beta of 1.49. The company has a 50 day moving average of $8.40 and a 200 day moving average of $8.96. EyePoint Pharmaceuticals has a 52 week low of $6.90 and a 52 week high of $30.99.

Institutional Trading of EyePoint Pharmaceuticals

A number of large investors have recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. increased its stake in shares of EyePoint Pharmaceuticals by 68.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 10,293 shares of the company’s stock worth $82,000 after purchasing an additional 4,172 shares in the last quarter. Greenwich Wealth Management LLC boosted its holdings in EyePoint Pharmaceuticals by 8.3% in the 3rd quarter. Greenwich Wealth Management LLC now owns 11,700 shares of the company’s stock worth $93,000 after buying an additional 900 shares during the period. Cyndeo Wealth Partners LLC purchased a new position in EyePoint Pharmaceuticals in the 3rd quarter valued at approximately $100,000. Intech Investment Management LLC bought a new stake in EyePoint Pharmaceuticals during the 3rd quarter valued at $136,000. Finally, GSA Capital Partners LLP lifted its position in shares of EyePoint Pharmaceuticals by 129.6% during the third quarter. GSA Capital Partners LLP now owns 32,979 shares of the company’s stock worth $264,000 after acquiring an additional 18,616 shares in the last quarter. 99.41% of the stock is owned by hedge funds and other 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.