EyePoint Pharmaceuticals (NASDAQ:EYPT) Sets New 12-Month Low – Time to Sell?

Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $7.21 and last traded at $7.48, with a volume of 44503 shares. The stock had previously closed at $7.46.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Robert W. Baird lowered their target price on EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating on the stock in a research note on Monday, November 11th. Chardan Capital lifted their price objective on EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Jefferies Financial Group assumed coverage on EyePoint Pharmaceuticals in a research report on Wednesday, August 28th. They set a “buy” rating and a $15.00 target price for the company. HC Wainwright reissued a “buy” rating and issued a $22.00 target price on shares of EyePoint Pharmaceuticals in a report on Thursday, December 5th. Finally, StockNews.com upgraded shares of EyePoint Pharmaceuticals to a “sell” rating in a research report on Saturday, September 21st. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $25.71.

EyePoint Pharmaceuticals Stock Up 5.4 %

The company’s fifty day moving average is $9.78 and its two-hundred day moving average is $9.14. The firm has a market capitalization of $547.37 million, a price-to-earnings ratio of -4.01 and a beta of 1.45.

Institutional Investors Weigh In On EyePoint Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EYPT. Greenwich Wealth Management LLC increased its position in shares of EyePoint Pharmaceuticals by 8.3% in the 3rd quarter. Greenwich Wealth Management LLC now owns 11,700 shares of the company’s stock valued at $93,000 after buying an additional 900 shares in the last quarter. Arizona State Retirement System raised its position in EyePoint Pharmaceuticals by 9.7% in the 2nd quarter. Arizona State Retirement System now owns 13,251 shares of the company’s stock valued at $115,000 after buying an additional 1,171 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in EyePoint Pharmaceuticals by 68.2% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 10,293 shares of the company’s stock valued at $82,000 after acquiring an additional 4,172 shares in the last quarter. Fiera Capital Corp boosted its position in EyePoint Pharmaceuticals by 0.9% during the 2nd quarter. Fiera Capital Corp now owns 677,038 shares of the company’s stock worth $5,890,000 after acquiring an additional 5,920 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of EyePoint Pharmaceuticals by 271.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,888 shares of the company’s stock worth $95,000 after purchasing an additional 7,953 shares in 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.