EyePoint Pharmaceuticals (NASDAQ:EYPT) Stock Price Up 13.6% – Here’s Why

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) shares rose 13.6% on Tuesday . The company traded as high as $7.59 and last traded at $7.39. Approximately 316,922 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 834,465 shares. The stock had previously closed at $6.50.

Analyst Upgrades and Downgrades

EYPT has been the topic of a number of analyst reports. Robert W. Baird lowered their target price on shares of EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. Citigroup began coverage on shares of EyePoint Pharmaceuticals in a report on Tuesday, January 7th. They issued a “buy” rating and a $33.00 target price on the stock. 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. Finally, Chardan Capital reiterated a “buy” rating and issued a $33.00 price objective on shares of EyePoint Pharmaceuticals in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $26.63.

EyePoint Pharmaceuticals Stock Performance

The company’s 50 day moving average price is $7.54 and its 200-day moving average price is $8.63. The company has a market cap of $433.39 million, a PE ratio of -3.18 and a beta of 1.51.

Institutional Investors Weigh In On EyePoint Pharmaceuticals

Several large investors have recently modified their holdings of EYPT. Summit Investment Advisors Inc. grew its stake in EyePoint Pharmaceuticals by 39.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 6,838 shares of the company’s stock valued at $51,000 after buying an additional 1,940 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in EyePoint Pharmaceuticals in the 4th quarter valued at approximately $59,000. Virtus ETF Advisers LLC purchased a new position in EyePoint Pharmaceuticals in the 4th quarter valued at approximately $67,000. AlphaQuest LLC grew its stake in EyePoint Pharmaceuticals by 13,246.6% in the 4th quarter. AlphaQuest LLC now owns 9,743 shares of the company’s stock valued at $73,000 after buying an additional 9,670 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in EyePoint Pharmaceuticals in the 4th quarter valued at approximately $76,000. Hedge funds and other institutional investors own 99.41% of the company’s stock.

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.