EyePoint Pharmaceuticals (NASDAQ:EYPT) Stock Price Up 9.6% – Here’s What Happened

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) shares rose 9.6% on Monday . The company traded as high as $9.09 and last traded at $9.05. Approximately 246,662 shares traded hands during trading, a decline of 64% from the average daily volume of 688,934 shares. The stock had previously closed at $8.26.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Chardan Capital raised their price target on EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. HC Wainwright reiterated 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 cut their target price on shares of EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating for the company in a research report on Monday, November 11th. Scotiabank began coverage on EyePoint Pharmaceuticals in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $18.00 target price on the stock. Finally, StockNews.com upgraded EyePoint Pharmaceuticals to a “sell” rating in a research report on Saturday, September 21st. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.71.

EyePoint Pharmaceuticals Stock Performance

The firm’s fifty day simple moving average is $9.12 and its 200 day simple moving average is $8.98. The firm has a market cap of $614.26 million, a P/E ratio of -4.50 and a beta of 1.49.

Institutional Trading of EyePoint Pharmaceuticals

Several hedge funds have recently made changes to their positions in EYPT. China Universal Asset Management Co. Ltd. raised its position 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 purchasing an additional 4,172 shares during the period. Greenwich Wealth Management LLC purchased a new stake in EyePoint Pharmaceuticals during the 2nd quarter valued at $94,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in EyePoint Pharmaceuticals by 271.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,888 shares of the company’s stock worth $95,000 after buying an additional 7,953 shares during the last quarter. Cyndeo Wealth Partners LLC purchased a new position in EyePoint Pharmaceuticals during the third quarter worth $100,000. Finally, Arizona State Retirement System increased its position in EyePoint Pharmaceuticals by 9.7% during the second quarter. Arizona State Retirement System now owns 13,251 shares of the company’s stock valued at $115,000 after acquiring an additional 1,171 shares during the last quarter. 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.