Short Interest in EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Decreases By 6.4%

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) saw a significant decline in short interest in the month of November. As of November 30th, there was short interest totalling 9,250,000 shares, a decline of 6.4% from the November 15th total of 9,880,000 shares. Based on an average trading volume of 855,700 shares, the days-to-cover ratio is currently 10.8 days.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Essex Investment Management Co. LLC lifted its holdings in shares of EyePoint Pharmaceuticals by 234.2% in the third quarter. Essex Investment Management Co. LLC now owns 142,144 shares of the company’s stock valued at $1,136,000 after purchasing an additional 99,606 shares in the last quarter. Patient Square Capital LP purchased a new stake in EyePoint Pharmaceuticals in the 3rd quarter valued at $10,882,000. Deerfield Management Company L.P. Series C lifted its stake in EyePoint Pharmaceuticals by 51.4% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 877,790 shares of the company’s stock valued at $7,637,000 after acquiring an additional 298,196 shares in the last quarter. Cubist Systematic Strategies LLC boosted its holdings in EyePoint Pharmaceuticals by 842.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 476,250 shares of the company’s stock worth $4,143,000 after acquiring an additional 425,717 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of EyePoint Pharmaceuticals by 112.5% in 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 in the last quarter. Institutional investors and hedge funds own 99.41% of the company’s stock.

EyePoint Pharmaceuticals Trading Up 2.0 %

EYPT stock traded up $0.15 during trading on Monday, reaching $7.61. 720,552 shares of the stock were exchanged, compared to its average volume of 938,684. The firm’s 50 day moving average is $9.79 and its 200 day moving average is $9.16. The firm has a market cap of $519.39 million, a P/E ratio of -3.81 and a beta of 1.45. EyePoint Pharmaceuticals has a twelve month low of $7.21 and a twelve month high of $30.99.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on EYPT shares. Chardan Capital upped their price objective on shares of EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Jefferies Financial Group initiated coverage on shares of EyePoint Pharmaceuticals in a research report on Wednesday, August 28th. They set a “buy” rating and a $15.00 price target on the stock. Robert W. Baird lowered their price objective on EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating for the company in a research report on Monday, November 11th. 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. Finally, StockNews.com raised EyePoint Pharmaceuticals to a “sell” rating in a research note on Saturday, September 21st. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $25.71.

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.