Eyepoint Pharmaceuticals (NASDAQ:EYPT) Shares Down 5% - Time to Sell?

Shares of Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Get Free Report) fell 5% during trading on Friday . The company traded as low as $8.48 and last traded at $8.48. 147,052 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 815,927 shares. The stock had previously closed at $8.92.

Analysts Set New Price Targets

Several research analysts have commented on EYPT shares. Chardan Capital decreased their target price on shares of Eyepoint Pharmaceuticals from $33.00 to $27.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. 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. Royal Bank Of Canada initiated coverage on shares of Eyepoint Pharmaceuticals in a research note on Tuesday, June 17th. They set an "outperform" rating and a $28.00 target price on the stock. Finally, Wall Street Zen raised shares of Eyepoint Pharmaceuticals to a "sell" rating in a research report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Eyepoint Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average target price of $25.67.

Eyepoint Pharmaceuticals Trading Down 1.7%

The company has a market cap of $569.75 million, a price-to-earnings ratio of -3.44 and a beta of 1.61. The firm's fifty day moving average price is $6.95 and its 200-day moving average price is $6.91.

Eyepoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.65) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.65). Eyepoint Pharmaceuticals had a negative net margin of 261.91% and a negative return on equity of 54.27%. The business had revenue of $24.50 million during the quarter, compared to the consensus estimate of $8.84 million. As a group, research analysts anticipate that Eyepoint Pharmaceuticals, Inc. will post -2.13 EPS for the current year.

Hedge Funds Weigh In On Eyepoint Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the business. Summit Investment Advisors Inc. boosted its stake in shares of 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 purchasing an additional 1,940 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Eyepoint Pharmaceuticals by 3,174.4% in the first quarter. GAMMA Investing LLC now owns 10,249 shares of the company's stock valued at $56,000 after buying an additional 9,936 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of Eyepoint Pharmaceuticals in the 4th quarter valued at about $59,000. Virtus ETF Advisers LLC acquired a new stake in shares of Eyepoint Pharmaceuticals during the 4th quarter worth approximately $67,000. Finally, AlphaQuest LLC grew its stake in shares of 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 during the period. 99.41% of the stock is currently owned by institutional investors and hedge funds.

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.