EyePoint Pharmaceuticals (NASDAQ:EYPT) Stock Price Down 9.8% – Here’s What Happened

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT)’s share price fell 9.8% during mid-day trading on Friday . The stock traded as low as $8.18 and last traded at $8.22. 489,092 shares traded hands during mid-day trading, a decline of 41% from the average session volume of 832,272 shares. The stock had previously closed at $9.11.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. StockNews.com upgraded shares of EyePoint Pharmaceuticals to a “sell” rating in a research note on Saturday, September 21st. HC Wainwright reissued a “buy” rating and issued a $22.00 price objective on shares of EyePoint Pharmaceuticals in a research note on Thursday, December 5th. Robert W. Baird decreased their target price on EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. Chardan Capital lifted their target price on EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Scotiabank assumed coverage on shares of EyePoint Pharmaceuticals in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $18.00 price target for the company. One analyst has rated the stock with a sell rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $26.63.

EyePoint Pharmaceuticals Stock Down 10.1 %

The firm has a 50-day moving average of $8.90 and a two-hundred day moving average of $8.99. The stock has a market capitalization of $558.98 million, a price-to-earnings ratio of -4.10 and a beta of 1.49.

Institutional Trading of EyePoint Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. boosted its holdings in EyePoint Pharmaceuticals by 68.2% during the third quarter. China Universal Asset Management Co. Ltd. now owns 10,293 shares of the company’s stock valued at $82,000 after acquiring an additional 4,172 shares during the period. Greenwich Wealth Management LLC boosted its stake in EyePoint Pharmaceuticals by 8.3% during 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. Cyndeo Wealth Partners LLC acquired a new stake in EyePoint Pharmaceuticals in the 3rd quarter valued at approximately $100,000. Arizona State Retirement System grew its holdings in EyePoint Pharmaceuticals by 9.7% in the 2nd quarter. Arizona State Retirement System now owns 13,251 shares of the company’s stock valued at $115,000 after buying an additional 1,171 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in EyePoint Pharmaceuticals in the 3rd quarter worth approximately $136,000. 99.41% of the stock is currently owned by hedge funds and other institutional investors.

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.