Eyepoint Pharmaceuticals (NASDAQ:EYPT) Sees Unusually-High Trading Volume – Here’s Why

Shares of Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) saw an uptick in trading volume on Tuesday . 2,108,103 shares changed hands during mid-day trading, an increase of 103% from the previous session’s volume of 1,037,497 shares.The stock last traded at $15.38 and had previously closed at $12.94.

Analysts Set New Price Targets

A number of research firms recently weighed in on EYPT. Royal Bank Of Canada upped their price target on Eyepoint Pharmaceuticals from $28.00 to $39.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Mizuho set a $28.00 target price on Eyepoint Pharmaceuticals in a report on Monday, October 20th. TD Cowen upgraded shares of Eyepoint Pharmaceuticals to a “strong-buy” rating in a research note on Friday, December 19th. Cantor Fitzgerald raised shares of Eyepoint Pharmaceuticals to a “strong-buy” rating in a research note on Tuesday, November 25th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a report on Thursday, January 22nd. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Eyepoint Pharmaceuticals currently has a consensus rating of “Buy” and an average price target of $29.25.

Eyepoint Pharmaceuticals Stock Performance

The company has a market cap of $1.24 billion, a PE ratio of -5.00 and a beta of 1.76. The business’s 50-day moving average is $15.85 and its 200 day moving average is $13.80.

Insider Transactions at Eyepoint Pharmaceuticals

In other news, insider Ramiro Ribeiro sold 42,544 shares of the firm’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $17.10, for a total transaction of $727,502.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 4.46% of the company’s stock.

Institutional Investors Weigh In On Eyepoint Pharmaceuticals

A number of hedge funds have recently modified their holdings of the business. Nisa Investment Advisors LLC lifted its position in shares of Eyepoint Pharmaceuticals by 1,636.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,900 shares of the company’s stock valued at $27,000 after buying an additional 2,733 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in shares of Eyepoint Pharmaceuticals in the 3rd quarter worth $50,000. Mirae Asset Global Investments Co. Ltd. grew its position in Eyepoint Pharmaceuticals by 51.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,023 shares of the company’s stock worth $74,000 after acquiring an additional 1,358 shares in the last quarter. Russell Investments Group Ltd. bought a new position in shares of Eyepoint Pharmaceuticals during the 3rd quarter valued at approximately $76,000. Finally, Tower Research Capital LLC TRC increased its position in Eyepoint Pharmaceuticals by 218.3% during the second quarter. Tower Research Capital LLC TRC now owns 8,700 shares of the company’s stock valued at $82,000 after acquiring an additional 5,967 shares during the last quarter. Institutional investors own 99.41% of the company’s stock.

Eyepoint Pharmaceuticals Company Profile

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.