EyePoint Pharmaceuticals (NASDAQ:EYPT) Sees Unusually-High Trading Volume – Should You Buy?

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) shares saw unusually-strong trading volume on Wednesday . Approximately 558,192 shares traded hands during mid-day trading, a decline of 40% from the previous session’s volume of 926,773 shares.The stock last traded at $11.20 and had previously closed at $11.54.

Analysts Set New Price Targets

A number of analysts have recently issued reports on EYPT shares. Scotiabank started coverage on EyePoint Pharmaceuticals in a research report on Wednesday, October 16th. They issued a “sector outperform” rating and a $18.00 price objective for the company. Jefferies Financial Group started coverage on EyePoint Pharmaceuticals in a research report on Wednesday, August 28th. They issued a “buy” rating and a $15.00 price objective for the company. StockNews.com raised EyePoint Pharmaceuticals to a “sell” rating in a report on Saturday, September 21st. JPMorgan Chase & Co. dropped their price target on EyePoint Pharmaceuticals from $32.00 to $29.00 and set an “overweight” rating for the company in a report on Tuesday, August 13th. Finally, HC Wainwright reissued a “buy” rating and set a $30.00 price target on shares of EyePoint Pharmaceuticals in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $29.00.

EyePoint Pharmaceuticals Trading Up 2.6 %

The business has a 50-day moving average of $9.11 and a two-hundred day moving average of $10.37.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last announced its earnings results on Wednesday, August 7th. The company reported ($0.58) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.03). The company had revenue of $9.48 million for the quarter, compared to analyst estimates of $11.61 million. EyePoint Pharmaceuticals had a negative return on equity of 43.24% and a negative net margin of 172.29%. On average, analysts forecast that EyePoint Pharmaceuticals, Inc. will post -2.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of EYPT. Greenwich Wealth Management LLC lifted its stake in shares of EyePoint Pharmaceuticals by 8.3% in the 3rd quarter. Greenwich Wealth Management LLC now owns 11,700 shares of the company’s stock valued at $93,000 after purchasing an additional 900 shares during the period. China Universal Asset Management Co. Ltd. raised its stake in EyePoint Pharmaceuticals by 68.2% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 10,293 shares of the company’s stock worth $82,000 after buying an additional 4,172 shares during the period. Cyndeo Wealth Partners LLC acquired a new position in EyePoint Pharmaceuticals during the 3rd quarter worth approximately $100,000. Woodstock Corp raised its stake in EyePoint Pharmaceuticals by 29.1% during the 3rd quarter. Woodstock Corp now owns 71,480 shares of the company’s stock worth $571,000 after buying an additional 16,093 shares during the period. Finally, Essex Investment Management Co. LLC raised its stake in EyePoint Pharmaceuticals by 234.2% during the 3rd quarter. Essex Investment Management Co. LLC now owns 142,144 shares of the company’s stock worth $1,136,000 after buying an additional 99,606 shares during the period. 99.41% of the stock is owned by institutional investors and hedge funds.

EyePoint Pharmaceuticals Company Profile

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.