EyePoint Pharmaceuticals (NASDAQ:EYPT) Stock Price Down 8.5% – What’s Next?

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT)’s stock price fell 8.5% during trading on Friday . The company traded as low as $9.58 and last traded at $9.60. 434,593 shares were traded during trading, a decline of 53% from the average session volume of 933,401 shares. The stock had previously closed at $10.49.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on EYPT. StockNews.com upgraded shares of EyePoint Pharmaceuticals to a “sell” rating in a report on Saturday, September 21st. Scotiabank began coverage on shares of EyePoint Pharmaceuticals in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $18.00 price objective on the stock. Chardan Capital increased their price objective on shares of EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Robert W. Baird lowered their price objective on shares of EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, Jefferies Financial Group began coverage on shares of EyePoint Pharmaceuticals in a research report on Wednesday, August 28th. They set a “buy” rating and a $15.00 price objective on the stock. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $28.00.

EyePoint Pharmaceuticals Trading Down 9.2 %

The firm has a market capitalization of $510.05 million, a PE ratio of -4.81 and a beta of 1.50. The business’s 50 day simple moving average is $9.71 and its 200 day simple moving average is $9.91.

Institutional Investors Weigh In On EyePoint Pharmaceuticals

Several institutional investors have recently made changes to their positions in EYPT. Janney Montgomery Scott LLC lifted its holdings in shares of EyePoint Pharmaceuticals by 26.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 18,040 shares of the company’s stock worth $373,000 after acquiring an additional 3,780 shares during the last quarter. Swiss National Bank purchased a new stake in EyePoint Pharmaceuticals in the 1st quarter valued at about $1,792,000. ProShare Advisors LLC purchased a new stake in EyePoint Pharmaceuticals in the 1st quarter valued at about $209,000. Entropy Technologies LP purchased a new stake in EyePoint Pharmaceuticals in the 1st quarter valued at about $279,000. Finally, Vanguard Group Inc. boosted its position in EyePoint Pharmaceuticals by 17.8% in the 1st quarter. Vanguard Group Inc. now owns 2,396,228 shares of the company’s stock valued at $49,530,000 after buying an additional 362,168 shares during the period. Institutional investors own 99.41% of the company’s stock.

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.