EyePoint Pharmaceuticals (NASDAQ:EYPT) Shares Gap Up After Insider Buying Activity

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) gapped up prior to trading on Tuesday after an insider bought additional shares in the company. The stock had previously closed at $16.95, but opened at $18.26. EyePoint Pharmaceuticals shares last traded at $17.98, with a volume of 100,302 shares trading hands.

Specifically, insider Dario A. Paggiarino sold 49,325 shares of the company’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 transaction of $1,265,679.50. Following the completion of the sale, the insider now directly owns 36,505 shares of the company’s stock, valued at $936,718.30. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other EyePoint Pharmaceuticals news, insider Dario A. Paggiarino sold 49,325 shares of the company’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 completion of the transaction, the insider now directly owns 36,505 shares in the company, valued at $936,718.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Cormorant Asset Management, Lp purchased 581,765 shares of the company’s stock in a transaction on Thursday, April 18th. The stock was purchased at an average price of $18.03 per share, with a total value of $10,489,222.95. Following the completion of the transaction, the insider now owns 7,475,000 shares of the company’s stock, valued at $134,774,250. The disclosure for this purchase can be found here. 13.05% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on EYPT shares. Capital One Financial restated an “overweight” rating on shares of EyePoint Pharmaceuticals in a research report on Friday, February 16th. HC Wainwright dropped their target price on shares of EyePoint Pharmaceuticals from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Tuesday, January 16th. JPMorgan Chase & Co. started coverage on shares of EyePoint Pharmaceuticals in a research report on Monday, January 22nd. They set an “overweight” rating and a $35.00 target price for the company. Finally, Mizuho upped 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. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $34.00.

EyePoint Pharmaceuticals Price Performance

The company’s 50-day simple moving average is $23.19 and its 200 day simple moving average is $18.60. The firm has a market cap of $820.70 million, a P/E ratio of -9.00 and a beta of 1.64.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last announced its earnings results on Thursday, March 7th. The company reported ($0.33) earnings per share 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 business had revenue of $14.03 million for the quarter, compared to the consensus estimate of $8.71 million. During the same quarter in the prior year, the firm posted ($0.61) earnings per share. Analysts anticipate that EyePoint Pharmaceuticals, Inc. will post -1.73 EPS for the current fiscal year.

Institutional Investors Weigh In On EyePoint Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in EYPT. FNY Investment Advisers LLC purchased a new position in EyePoint Pharmaceuticals in the 4th quarter worth about $27,000. China Universal Asset Management Co. Ltd. purchased a new position in EyePoint Pharmaceuticals in the 4th quarter worth about $94,000. Sherbrooke Park Advisers LLC purchased a new position in EyePoint Pharmaceuticals in the 3rd quarter worth about $101,000. Tower Research Capital LLC TRC increased its stake in EyePoint Pharmaceuticals by 36.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,724 shares of the company’s stock worth $109,000 after buying an additional 1,250 shares during the period. Finally, Toth Financial Advisory Corp increased its stake in EyePoint Pharmaceuticals by 42.9% in the 4th quarter. Toth Financial Advisory Corp now owns 5,000 shares of the company’s stock worth $116,000 after buying an additional 1,500 shares during the period. 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.