Eyepoint Pharmaceuticals (NASDAQ:EYPT) Shares Down 4.4% - Here's What Happened

Key Points

• Eyepoint Pharmaceuticals shares fell 4.4% during mid-day trading, hitting a low of $13.63, significantly down from an average trading volume with only 69,953 shares traded.
• Despite the drop in stock price, analysts maintain a generally positive outlook with several upgrades, including a price target boost from HC Wainwright from $22.00 to $23.00 and a consensus average price target of $26.86.
• The company reported a larger-than-expected loss of ($0.85) earnings per share for the last quarter, missing the estimated consensus of ($0.67) by ($0.18).

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Get Free Report)'s stock price fell 4.4% during mid-day trading on Wednesday . The company traded as low as $13.63 and last traded at $13.56. 69,953 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 796,438 shares. The stock had previously closed at $14.19.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on EYPT. HC Wainwright boosted their price target on Eyepoint Pharmaceuticals from $22.00 to $23.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Royal Bank Of Canada assumed coverage on Eyepoint Pharmaceuticals in a research report on Tuesday, June 17th. They set an "outperform" rating and a $28.00 price target on the stock. Chardan Capital restated a "buy" rating and set a $27.00 price objective on shares of Eyepoint Pharmaceuticals in a report on Thursday, August 7th. Finally, Mizuho reduced their price objective on Eyepoint Pharmaceuticals from $30.00 to $26.00 and set an "outperform" rating for the company in a report on Friday, May 16th. Seven equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $26.86.

Eyepoint Pharmaceuticals Price Performance

The firm's fifty day moving average price is $10.89 and its 200-day moving average price is $8.17. The company has a market capitalization of $926.42 million, a price-to-earnings ratio of -5.02 and a beta of 1.93.

Eyepoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.18). The company had revenue of $5.33 million for the quarter, compared to analyst estimates of $6.82 million. Eyepoint Pharmaceuticals had a negative return on equity of 63.80% and a negative net margin of 337.93%. On average, research analysts predict that Eyepoint Pharmaceuticals, Inc. will post -2.13 earnings per share for the current year.

Institutional Trading of Eyepoint Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC increased its holdings in Eyepoint Pharmaceuticals by 1,636.5% in the second quarter. Nisa Investment Advisors LLC now owns 2,900 shares of the company's stock valued at $27,000 after purchasing an additional 2,733 shares during the period. Tower Research Capital LLC TRC boosted its position in Eyepoint Pharmaceuticals by 218.3% during the second quarter. Tower Research Capital LLC TRC now owns 8,700 shares of the company's stock valued at $82,000 after acquiring an additional 5,967 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Eyepoint Pharmaceuticals during the fourth quarter valued at $76,000. GAMMA Investing LLC boosted its position in Eyepoint Pharmaceuticals by 3,174.4% during the first quarter. GAMMA Investing LLC now owns 10,249 shares of the company's stock valued at $56,000 after acquiring an additional 9,936 shares during the last quarter. Finally, R Squared Ltd bought a new stake in Eyepoint Pharmaceuticals during the second quarter valued at $100,000. 99.41% of the stock is currently owned by institutional investors and hedge funds.

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.

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