Eyepoint Pharmaceuticals (NASDAQ:EYPT) Trading Down 6.1% – Here’s What Happened

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT)’s share price traded down 6.1% during mid-day trading on Friday . The stock traded as low as $17.23 and last traded at $17.1480. 276,772 shares changed hands during trading, a decline of 78% from the average session volume of 1,231,678 shares. The stock had previously closed at $18.27.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. TD Cowen upgraded shares of Eyepoint Pharmaceuticals to a “strong-buy” rating in a research note on Friday, December 19th. Mizuho set a $28.00 target price on Eyepoint Pharmaceuticals in a report on Monday, October 20th. Royal Bank Of Canada raised their price objective on Eyepoint Pharmaceuticals from $28.00 to $39.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research report on Wednesday, October 8th. Finally, Cantor Fitzgerald upgraded shares of Eyepoint Pharmaceuticals to a “strong-buy” rating in a research note on Tuesday, November 25th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $30.00.

Eyepoint Pharmaceuticals Stock Down 7.4%

The company’s 50-day simple moving average is $14.83 and its 200-day simple moving average is $12.62. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of -5.66 and a beta of 1.67.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.08). Eyepoint Pharmaceuticals had a negative return on equity of 76.13% and a negative net margin of 485.95%.The company had revenue of $0.97 million during the quarter, compared to analysts’ expectations of $3.33 million. As a group, analysts expect that Eyepoint Pharmaceuticals, Inc. will post -2.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Eyepoint Pharmaceuticals

Institutional investors have recently bought and sold shares of the stock. Invesco Ltd. grew its position in shares of Eyepoint Pharmaceuticals by 174.3% in the first quarter. Invesco Ltd. now owns 42,948 shares of the company’s stock valued at $233,000 after purchasing an additional 27,291 shares during the last quarter. American Century Companies Inc. bought a new position in Eyepoint Pharmaceuticals in the 1st quarter worth approximately $232,000. Walleye Capital LLC acquired a new position in shares of Eyepoint Pharmaceuticals during the first quarter worth approximately $180,000. Adage Capital Partners GP L.L.C. boosted its position in shares of Eyepoint Pharmaceuticals by 7.8% in the first quarter. Adage Capital Partners GP L.L.C. now owns 6,200,000 shares of the company’s stock valued at $33,604,000 after acquiring an additional 450,000 shares during the period. Finally, Dynamic Technology Lab Private Ltd boosted its position in shares of Eyepoint Pharmaceuticals by 127.8% in the first quarter. Dynamic Technology Lab Private Ltd now owns 73,310 shares of the company’s stock valued at $397,000 after acquiring an additional 41,132 shares during the period. 99.41% of the stock is currently owned by institutional investors.

About Eyepoint Pharmaceuticals

Eyepoint Pharmaceuticals, Inc is a biopharmaceutical company focused on the development and commercialization of therapies for the treatment of ocular diseases. The company’s proprietary platform centers on sustained-release formulations designed to improve drug delivery to the posterior segment of the eye, addressing conditions that often require repeated intravitreal injections or intensive topical regimens. Eyepoint’s commercial strategy combines in-house sales and marketing capabilities with targeted partnerships to bring its therapies to ophthalmologists and retina specialists across the United States.

Eyepoint’s lead products include YUTIQ, a fluocinolone acetonide intravitreal implant indicated for the prevention of relapse in non-infectious uveitis affecting the posterior segment of the eye, and DEXYCU, a dexamethasone intraocular suspension approved for postoperative inflammation following ocular surgery.