Eyepoint Pharmaceuticals (NASDAQ:EYPT) Trading Down 4.7% – Here’s What Happened

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT)’s share price was down 4.7% during trading on Wednesday . The company traded as low as $17.21 and last traded at $17.45. Approximately 651,042 shares were traded during trading, a decline of 53% from the average daily volume of 1,392,438 shares. The stock had previously closed at $18.32.

Wall Street Analysts Forecast Growth

EYPT has been the subject of several recent analyst reports. TD Cowen upgraded Eyepoint Pharmaceuticals to a “strong-buy” rating in a research note on Friday, December 19th. Cantor Fitzgerald raised Eyepoint Pharmaceuticals to a “strong-buy” rating in a report on Tuesday, November 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a report on Thursday, January 22nd. Finally, Royal Bank Of Canada raised their price objective on shares of Eyepoint Pharmaceuticals from $28.00 to $39.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $29.25.

Eyepoint Pharmaceuticals Trading Down 0.9%

The business has a 50 day simple moving average of $15.76 and a two-hundred day simple moving average of $14.28. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of -6.07 and a beta of 1.72.

Insider Transactions at Eyepoint Pharmaceuticals

In other Eyepoint Pharmaceuticals news, insider Ramiro Ribeiro sold 42,544 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $17.10, for a total value of $727,502.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.46% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of EYPT. Janus Henderson Group PLC bought a new position in shares of Eyepoint Pharmaceuticals in the fourth quarter valued at $53,658,000. Paradigm Biocapital Advisors LP bought a new position in Eyepoint Pharmaceuticals during the third quarter valued at approximately $28,556,000. Orbimed Advisors LLC bought a new position in shares of Eyepoint Pharmaceuticals in the 3rd quarter valued at approximately $25,575,000. Suvretta Capital Management LLC lifted its position in Eyepoint Pharmaceuticals by 26.4% during the 4th quarter. Suvretta Capital Management LLC now owns 7,827,685 shares of the company’s stock worth $143,012,000 after acquiring an additional 1,634,970 shares during the last quarter. Finally, Federated Hermes Inc. increased its position in Eyepoint Pharmaceuticals by 36.3% in the 4th quarter. Federated Hermes Inc. now owns 6,017,433 shares of the company’s stock worth $109,938,000 after buying an additional 1,601,101 shares during the period. 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.