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

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) was down 8.5% during mid-day trading on Friday . The company traded as low as $9.58 and last traded at $9.60. Approximately 434,593 shares changed hands during trading, a decline of 53% from the average daily volume of 933,401 shares. The stock had previously closed at $10.49.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on EYPT shares. JPMorgan Chase & Co. dropped their price objective on shares of EyePoint Pharmaceuticals from $32.00 to $29.00 and set an “overweight” rating for the company in a report on Tuesday, August 13th. Robert W. Baird lowered their price target on shares of EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating for the company in a research note on Monday. HC Wainwright lowered their price target on shares of EyePoint Pharmaceuticals from $30.00 to $22.00 and set a “buy” rating for the company in a research note on Monday. Chardan Capital boosted their price target on shares of EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, StockNews.com raised shares of EyePoint Pharmaceuticals to a “sell” rating in a research note on Saturday, September 21st. One analyst has rated the stock with a sell rating and nine have given a buy rating to the company. Based on data from MarketBeat, EyePoint Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $28.00.

EyePoint Pharmaceuticals Stock Down 9.2 %

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

Institutional Investors Weigh In On EyePoint Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ameritas Investment Partners Inc. grew its holdings in EyePoint Pharmaceuticals by 44.0% in the first quarter. Ameritas Investment Partners Inc. now owns 3,719 shares of the company’s stock worth $77,000 after purchasing an additional 1,136 shares during the period. China Universal Asset Management Co. Ltd. grew its holdings in shares of 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 buying an additional 4,172 shares during the last quarter. Greenwich Wealth Management LLC grew its holdings in shares of EyePoint Pharmaceuticals by 8.3% during the third quarter. Greenwich Wealth Management LLC now owns 11,700 shares of the company’s stock valued at $93,000 after buying an additional 900 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of EyePoint Pharmaceuticals by 271.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,888 shares of the company’s stock valued at $95,000 after buying an additional 7,953 shares during the last quarter. Finally, Cyndeo Wealth Partners LLC purchased a new stake in shares of EyePoint Pharmaceuticals during the third quarter valued at approximately $100,000. Hedge funds and other 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.