EyePoint Pharmaceuticals (NASDAQ:EYPT) Trading Down 2.8% - Should You Sell?

Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Get Free Report) were down 2.8% during mid-day trading on Wednesday . The stock traded as low as $8.90 and last traded at $8.95. Approximately 168,618 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 813,991 shares. The stock had previously closed at $9.21.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on EYPT shares. Mizuho dropped their target price on shares of EyePoint Pharmaceuticals from $30.00 to $26.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. HC Wainwright reiterated a "buy" rating and issued a $22.00 price target on shares of EyePoint Pharmaceuticals in a research report on Thursday, May 29th. Wall Street Zen upgraded shares of EyePoint Pharmaceuticals to a "sell" rating in a research report on Friday, March 14th. Finally, Chardan Capital decreased their price target on shares of EyePoint Pharmaceuticals from $33.00 to $27.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. According to MarketBeat, EyePoint Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus price target of $25.38.

EyePoint Pharmaceuticals Stock Performance

The stock has a market capitalization of $621.36 million, a P/E ratio of -4.52 and a beta of 1.61. The company's 50-day moving average price is $6.54 and its 200 day moving average price is $6.92.

EyePoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.65) EPS for the quarter, meeting the consensus estimate of ($0.65). The firm had revenue of $24.50 million for the quarter, compared to the consensus estimate of $8.84 million. EyePoint Pharmaceuticals had a negative net margin of 226.57% and a negative return on equity of 43.01%. 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 modified their holdings of the company. Summit Investment Advisors Inc. raised its position in shares of EyePoint Pharmaceuticals by 39.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,838 shares of the company's stock valued at $51,000 after purchasing an additional 1,940 shares during the period. GAMMA Investing LLC increased its holdings in EyePoint Pharmaceuticals by 3,174.4% in the 1st 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. KLP Kapitalforvaltning AS bought a new stake in EyePoint Pharmaceuticals in the 4th quarter valued at $59,000. Virtus ETF Advisers LLC bought a new stake in EyePoint Pharmaceuticals in the 4th quarter valued at $67,000. Finally, AlphaQuest LLC increased its holdings 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 acquiring an additional 9,670 shares during the last quarter. 99.41% of the stock is currently owned by 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.