EyePoint Pharmaceuticals (NASDAQ:EYPT) Sees Large Volume Increase

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) shares saw strong trading volume on Thursday . 2,164,401 shares traded hands during trading, an increase of 126% from the previous session’s volume of 957,865 shares.The stock last traded at $19.27 and had previously closed at $20.94.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. HC Wainwright decreased their price target on shares of EyePoint Pharmaceuticals from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Tuesday, January 16th. Mizuho raised their target price on shares of EyePoint Pharmaceuticals from $30.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Capital One Financial reissued an “overweight” rating on shares of EyePoint Pharmaceuticals in a research report on Friday, February 16th. Finally, JPMorgan Chase & Co. started coverage on shares of EyePoint Pharmaceuticals in a research report on Monday, January 22nd. They issued an “overweight” rating and a $35.00 target price on the stock. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, EyePoint Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $33.86.

EyePoint Pharmaceuticals Price Performance

The company’s fifty day moving average is $23.68 and its 200 day moving average is $18.33.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last posted its quarterly earnings results on Thursday, March 7th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.60) by $0.27. EyePoint Pharmaceuticals had a negative net margin of 153.84% and a negative return on equity of 61.48%. The firm had revenue of $14.03 million for the quarter, compared to analyst estimates of $8.71 million. During the same quarter last year, the firm posted ($0.61) earnings per share. As a group, equities analysts expect that EyePoint Pharmaceuticals, Inc. will post -1.73 EPS for the current fiscal year.

Insider Activity at EyePoint Pharmaceuticals

In related news, insider Dario A. Paggiarino sold 49,325 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $25.66, for a total value of $1,265,679.50. Following the transaction, the insider now owns 36,505 shares in the company, valued at $936,718.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Dario A. Paggiarino sold 49,325 shares of EyePoint Pharmaceuticals stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $25.66, for a total transaction of $1,265,679.50. Following the sale, the insider now owns 36,505 shares in the company, valued at $936,718.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dario A. Paggiarino sold 5,135 shares of EyePoint Pharmaceuticals stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $25.00, for a total transaction of $128,375.00. Following the sale, the insider now owns 36,505 shares in the company, valued at approximately $912,625. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,169 shares of company stock worth $1,437,509. Company insiders own 13.05% of the company’s stock.

Institutional Trading of EyePoint Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the company. Woodstock Corp raised its stake in shares of EyePoint Pharmaceuticals by 38.3% during the first quarter. Woodstock Corp now owns 30,778 shares of the company’s stock valued at $636,000 after purchasing an additional 8,525 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of EyePoint Pharmaceuticals during the fourth quarter valued at approximately $3,166,000. Vanguard Group Inc. increased its stake in shares of EyePoint Pharmaceuticals by 41.2% in the fourth quarter. Vanguard Group Inc. now owns 2,034,060 shares of the company’s stock worth $47,007,000 after buying an additional 593,336 shares during the last quarter. Sierra Summit Advisors LLC bought a new stake in shares of EyePoint Pharmaceuticals in the fourth quarter worth $523,000. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of EyePoint Pharmaceuticals by 83.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,522,704 shares of the company’s stock worth $58,301,000 after buying an additional 1,148,358 shares during the last quarter. Hedge funds and other institutional investors own 99.41% of the company’s stock.

About EyePoint Pharmaceuticals

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.