EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Short Interest Up 9.9% in December

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) was the target of a large growth in short interest in December. As of December 31st, there was short interest totalling 10,340,000 shares, a growth of 9.9% from the December 15th total of 9,410,000 shares. Based on an average daily trading volume, of 956,300 shares, the days-to-cover ratio is presently 10.8 days.

EyePoint Pharmaceuticals Stock Up 2.9 %

Shares of NASDAQ EYPT traded up $0.21 during trading hours on Monday, reaching $7.48. 564,887 shares of the stock traded hands, compared to its average volume of 778,205. The company has a market capitalization of $510.51 million, a P/E ratio of -3.74 and a beta of 1.49. The company’s 50-day simple moving average is $8.40 and its two-hundred day simple moving average is $8.96. EyePoint Pharmaceuticals has a 52-week low of $6.90 and a 52-week high of $30.99.

Analysts Set New Price Targets

A number of research firms recently weighed in on EYPT. Scotiabank started coverage on shares of EyePoint Pharmaceuticals in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $18.00 target price on the stock. Robert W. Baird lowered their price objective on EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. Citigroup assumed coverage on EyePoint Pharmaceuticals in a research report on Tuesday, January 7th. They set a “buy” rating and a $33.00 target price for the company. HC Wainwright reiterated a “buy” rating and set a $22.00 price target on shares of EyePoint Pharmaceuticals in a research report on Thursday, December 5th. Finally, Chardan Capital upped their price objective on shares of EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, EyePoint Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $26.63.

Institutional Investors Weigh In On EyePoint Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. Rhumbline Advisers increased its holdings in shares of EyePoint Pharmaceuticals by 32.6% in the second quarter. Rhumbline Advisers now owns 76,833 shares of the company’s stock worth $668,000 after buying an additional 18,897 shares during the period. Renaissance Technologies LLC grew its position in EyePoint Pharmaceuticals by 112.5% during the 2nd quarter. Renaissance Technologies LLC now owns 152,800 shares of the company’s stock worth $1,329,000 after acquiring an additional 80,900 shares during the last quarter. Cubist Systematic Strategies LLC increased its stake in EyePoint Pharmaceuticals by 842.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 476,250 shares of the company’s stock worth $4,143,000 after purchasing an additional 425,717 shares during the period. Deerfield Management Company L.P. Series C lifted its position in EyePoint Pharmaceuticals by 51.4% in the second quarter. Deerfield Management Company L.P. Series C now owns 877,790 shares of the company’s stock valued at $7,637,000 after purchasing an additional 298,196 shares during the last quarter. Finally, Perceptive Advisors LLC boosted its stake in shares of EyePoint Pharmaceuticals by 8.6% during the second quarter. Perceptive Advisors LLC now owns 640,274 shares of the company’s stock valued at $5,570,000 after purchasing an additional 50,628 shares during the period. 99.41% of the stock is currently owned by institutional investors.

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.