Short Interest in EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Rises By 5.6%

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) was the recipient of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 9,680,000 shares, a growth of 5.6% from the October 15th total of 9,170,000 shares. Based on an average daily volume of 738,100 shares, the short-interest ratio is currently 13.1 days.

EyePoint Pharmaceuticals Stock Up 7.5 %

EYPT traded up $0.64 during trading on Tuesday, reaching $9.22. 873,456 shares of the stock traded hands, compared to its average volume of 937,265. The stock’s 50-day moving average is $9.74 and its 200 day moving average is $9.66. EyePoint Pharmaceuticals has a 12 month low of $5.86 and a 12 month high of $30.99. The stock has a market capitalization of $629.27 million, a PE ratio of -4.49 and a beta of 1.50.

Hedge Funds Weigh In On EyePoint Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. Essex Investment Management Co. LLC grew its stake in shares of EyePoint Pharmaceuticals by 234.2% in the 3rd quarter. Essex Investment Management Co. LLC now owns 142,144 shares of the company’s stock valued at $1,136,000 after buying an additional 99,606 shares during the period. Deerfield Management Company L.P. Series C grew its position in EyePoint Pharmaceuticals by 51.4% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 877,790 shares of the company’s stock valued at $7,637,000 after purchasing an additional 298,196 shares during the period. Cubist Systematic Strategies LLC increased its stake in EyePoint Pharmaceuticals by 842.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 476,250 shares of the company’s stock valued at $4,143,000 after purchasing an additional 425,717 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in EyePoint Pharmaceuticals by 26.5% during the first quarter. Janney Montgomery Scott LLC now owns 18,040 shares of the company’s stock worth $373,000 after buying an additional 3,780 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of EyePoint Pharmaceuticals by 112.5% during the second quarter. Renaissance Technologies LLC now owns 152,800 shares of the company’s stock valued at $1,329,000 after buying an additional 80,900 shares during the last quarter. 99.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on EYPT shares. StockNews.com raised EyePoint Pharmaceuticals to a “sell” rating in a research note on Saturday, September 21st. Scotiabank began coverage on shares of EyePoint Pharmaceuticals in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $18.00 price objective for the company. Chardan Capital boosted their target price on shares of EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. cut their price objective on EyePoint Pharmaceuticals from $32.00 to $29.00 and set an “overweight” rating on the stock in a report on Tuesday, August 13th. Finally, HC Wainwright lowered their price objective on EyePoint Pharmaceuticals from $30.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, November 11th. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, EyePoint Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $28.00.

EyePoint Pharmaceuticals Company Profile

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.