EyePoint Pharmaceuticals (NASDAQ:EYPT) Trading Down 9.8% – Time to Sell?

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT)’s share price traded down 9.8% during trading on Friday . The stock traded as low as $8.18 and last traded at $8.22. 489,092 shares changed hands during trading, a decline of 41% from the average session volume of 832,272 shares. The stock had previously closed at $9.11.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on EYPT shares. 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. Citigroup started coverage on shares of EyePoint Pharmaceuticals in a report on Tuesday, January 7th. They issued a “buy” rating and a $33.00 target price on the stock. Scotiabank began coverage on shares of EyePoint Pharmaceuticals in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $18.00 price target for the company. StockNews.com upgraded EyePoint Pharmaceuticals to a “sell” rating in a research report on Saturday, September 21st. Finally, HC Wainwright reissued a “buy” rating and set a $22.00 target price on shares of EyePoint Pharmaceuticals in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $26.63.

EyePoint Pharmaceuticals Price Performance

The company has a market capitalization of $569.21 million, a PE ratio of -4.17 and a beta of 1.49. The stock has a 50-day simple moving average of $8.83 and a 200 day simple moving average of $8.99.

Institutional Trading of EyePoint Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the business. Patient Square Capital LP acquired a new position in shares of EyePoint Pharmaceuticals during the 3rd quarter worth approximately $10,882,000. Point72 Asset Management L.P. purchased a new stake in shares of EyePoint Pharmaceuticals in the second quarter valued at $5,488,000. Cubist Systematic Strategies LLC boosted its stake in shares of EyePoint Pharmaceuticals by 842.5% during the second quarter. Cubist Systematic Strategies LLC now owns 476,250 shares of the company’s stock valued at $4,143,000 after acquiring an additional 425,717 shares during the last quarter. Franklin Resources Inc. increased its position in EyePoint Pharmaceuticals by 9.9% during the 3rd quarter. Franklin Resources Inc. now owns 4,012,048 shares of the company’s stock worth $32,056,000 after purchasing an additional 362,399 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in EyePoint Pharmaceuticals by 1,171.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 371,758 shares of the company’s stock valued at $2,970,000 after purchasing an additional 342,516 shares during the last quarter. Hedge funds and other institutional investors own 99.41% of the company’s stock.

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.