Eyepoint Pharmaceuticals (NASDAQ:EYPT) Shares Down 4.4% – Time to Sell?

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) dropped 4.4% during mid-day trading on Wednesday . The stock traded as low as $14.03 and last traded at $14.2520. Approximately 1,498,688 shares changed hands during mid-day trading, an increase of 16% from the average daily volume of 1,297,213 shares. The stock had previously closed at $14.91.

Wall Street Analysts Forecast Growth

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

Eyepoint Pharmaceuticals Price Performance

The firm has a market capitalization of $1.19 billion, a PE ratio of -4.80 and a beta of 1.76. The company’s fifty day simple moving average is $15.80 and its 200 day simple moving average is $13.84.

Insider Buying and Selling at Eyepoint Pharmaceuticals

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Corient Private Wealth LLC purchased a new position in Eyepoint Pharmaceuticals in the 2nd quarter worth $1,200,000. Walleye Capital LLC grew its position in shares of Eyepoint Pharmaceuticals by 500.6% in the 2nd quarter. Walleye Capital LLC now owns 199,449 shares of the company’s stock worth $1,877,000 after buying an additional 166,243 shares during the last quarter. XTX Topco Ltd boosted its holdings in Eyepoint Pharmaceuticals by 215.4% in the second quarter. XTX Topco Ltd now owns 137,950 shares of the company’s stock valued at $1,298,000 after acquiring an additional 94,210 shares in the last quarter. R Squared Ltd purchased a new position in shares of Eyepoint Pharmaceuticals during the second quarter valued at about $100,000. Finally, Stempoint Capital LP bought a new position in shares of Eyepoint Pharmaceuticals in the 2nd quarter worth approximately $3,098,000. Hedge funds and other 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.