EyePoint Pharmaceuticals (NASDAQ:EYPT) Shares Up 6.4% – Here’s Why

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT)’s share price shot up 6.4% during trading on Tuesday . The stock traded as high as $8.14 and last traded at $8.10. 299,612 shares changed hands during trading, a decline of 68% from the average session volume of 936,001 shares. The stock had previously closed at $7.61.

Wall Street Analysts Forecast Growth

EYPT has been the topic of a number of recent analyst reports. Robert W. Baird dropped their price target on shares of EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. StockNews.com upgraded EyePoint Pharmaceuticals to a “sell” rating in a research report on Saturday, September 21st. HC Wainwright reiterated a “buy” rating and set a $22.00 price target on shares of EyePoint Pharmaceuticals in a research report on Thursday, December 5th. Scotiabank began coverage on EyePoint Pharmaceuticals in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $18.00 price objective for the company. Finally, Jefferies Financial Group initiated coverage on EyePoint Pharmaceuticals in a report on Wednesday, August 28th. They set a “buy” rating and a $15.00 target price on the stock. One research analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.71.

EyePoint Pharmaceuticals Trading Down 4.3 %

The stock has a 50-day moving average of $9.74 and a two-hundred day moving average of $9.12. The firm has a market cap of $485.95 million, a price-to-earnings ratio of -3.56 and a beta of 1.45.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. raised its position in EyePoint Pharmaceuticals by 68.2% during the third 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. Greenwich Wealth Management LLC raised its stake 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 acquiring an additional 900 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in EyePoint Pharmaceuticals by 271.0% in the 2nd 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 during the last quarter. Cyndeo Wealth Partners LLC acquired a new position in EyePoint Pharmaceuticals during the third quarter valued at approximately $100,000. Finally, Arizona State Retirement System raised its position in shares of EyePoint Pharmaceuticals by 9.7% in the second quarter. Arizona State Retirement System now owns 13,251 shares of the company’s stock valued at $115,000 after purchasing an additional 1,171 shares during the period. 99.41% of the stock is owned by institutional investors and hedge funds.

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.