Investors Purchase Large Volume of Eyepoint Pharmaceuticals Put Options (NASDAQ:EYPT)

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) was the target of some unusual options trading activity on Tuesday. Stock traders purchased 5,005 put options on the company. This represents an increase of approximately 568% compared to the average volume of 749 put options.

Insider Activity

In related news, insider Ramiro Ribeiro sold 2,437 shares of the company’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $15.00, for a total value of $36,555.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.13% of the stock is owned by corporate insiders.

Institutional Trading of Eyepoint Pharmaceuticals

A number of institutional investors have recently bought and sold shares of EYPT. Suvretta Capital Management LLC grew its stake in Eyepoint Pharmaceuticals by 26.4% in the fourth quarter. Suvretta Capital Management LLC now owns 7,827,685 shares of the company’s stock valued at $143,012,000 after purchasing an additional 1,634,970 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its stake in shares of Eyepoint Pharmaceuticals by 9.7% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 6,800,000 shares of the company’s stock worth $63,988,000 after purchasing an additional 600,000 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of Eyepoint Pharmaceuticals by 36.3% during the 4th quarter. Federated Hermes Inc. now owns 6,017,433 shares of the company’s stock valued at $109,938,000 after buying an additional 1,601,101 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Eyepoint Pharmaceuticals by 19.3% during the 4th quarter. Franklin Resources Inc. now owns 4,976,915 shares of the company’s stock valued at $90,928,000 after buying an additional 805,031 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Eyepoint Pharmaceuticals by 27.1% in the 4th quarter. Vanguard Group Inc. now owns 4,822,139 shares of the company’s stock valued at $88,100,000 after buying an additional 1,027,623 shares in the last quarter. Institutional investors and hedge funds own 99.41% of the company’s stock.

Analyst Ratings Changes

EYPT has been the topic of several research analyst reports. Chardan Capital lifted their price objective on shares of Eyepoint Pharmaceuticals from $29.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research report on Tuesday, April 21st. Citigroup lifted their price target on Eyepoint Pharmaceuticals from $31.00 to $35.00 and gave the company a “buy” rating in a report on Monday, March 9th. Guggenheim reissued a “buy” rating and set a $68.00 price target on shares of Eyepoint Pharmaceuticals in a research report on Wednesday, June 24th. Finally, Royal Bank Of Canada reduced their price objective on Eyepoint Pharmaceuticals from $39.00 to $37.00 and set an “outperform” rating for the company in a research note on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Eyepoint Pharmaceuticals presently has a consensus rating of “Buy” and an average target price of $43.83.

Eyepoint Pharmaceuticals Stock Performance

Shares of EYPT stock traded down $0.60 during trading on Tuesday, hitting $13.84. 929,529 shares of the company were exchanged, compared to its average volume of 1,211,140. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of -3.96 and a beta of 1.73. The business’s 50-day simple moving average is $13.17 and its 200 day simple moving average is $14.46. Eyepoint Pharmaceuticals has a twelve month low of $9.40 and a twelve month high of $19.11.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last released its earnings results on Wednesday, May 6th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.20). The company had revenue of $0.70 million during the quarter, compared to analysts’ expectations of $0.35 million. Eyepoint Pharmaceuticals had a negative return on equity of 110.54% and a negative net margin of 3,566.63%. On average, equities analysts forecast that Eyepoint Pharmaceuticals will post -3.09 earnings per share for the current fiscal year.

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.