EyePoint Pharmaceuticals (NASDAQ:EYPT) Shares Down 5.7%

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Get Free Report) was down 5.7% on Monday . The company traded as low as $21.04 and last traded at $21.18. Approximately 118,225 shares changed hands during trading, a decline of 88% from the average daily volume of 950,598 shares. The stock had previously closed at $22.45.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on EYPT shares. HC Wainwright reduced their price target on shares of EyePoint Pharmaceuticals from $35.00 to $33.00 and set a "buy" rating on the stock in a research report on Tuesday, January 16th. JPMorgan Chase & Co. started coverage on shares of EyePoint Pharmaceuticals in a research report on Monday, January 22nd. They set an "overweight" rating and a $35.00 price target on the stock. Capital One Financial reaffirmed an "overweight" rating on shares of EyePoint Pharmaceuticals in a research report on Friday, February 16th. Finally, Mizuho boosted their price objective on shares of EyePoint Pharmaceuticals from $30.00 to $39.00 and gave the company a "buy" rating in a research report on Friday, February 16th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $33.86.

EyePoint Pharmaceuticals Stock Performance

The stock has a market cap of $1.06 billion, a P/E ratio of -11.63 and a beta of 1.64. The stock's fifty day simple moving average is $24.58 and its 200-day simple moving average is $18.06.

EyePoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last posted its quarterly earnings data on Thursday, March 7th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.60) by $0.27. The firm had revenue of $14.03 million during the quarter, compared to the consensus estimate of $8.71 million. EyePoint Pharmaceuticals had a negative net margin of 153.84% and a negative return on equity of 61.48%. During the same quarter in the previous year, the firm posted ($0.61) EPS. As a group, equities research analysts forecast that EyePoint Pharmaceuticals, Inc. will post -1.73 earnings per share for the current year.

Insider Transactions at EyePoint Pharmaceuticals

In related news, insider Dario A. Paggiarino sold 49,325 shares of the company's stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $25.66, for a total transaction of $1,265,679.50. Following the completion of the transaction, the insider now directly owns 36,505 shares in the company, valued at approximately $936,718.30. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other EyePoint Pharmaceuticals news, insider Dario A. Paggiarino sold 49,325 shares of the company's stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $25.66, for a total value of $1,265,679.50. Following the completion of the transaction, the insider now directly owns 36,505 shares in the company, valued at approximately $936,718.30. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Dario A. Paggiarino sold 5,135 shares of the stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $25.00, for a total transaction of $128,375.00. Following the transaction, the insider now directly owns 36,505 shares in the company, valued at $912,625. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,169 shares of company stock valued at $1,437,509. Company insiders own 13.05% of the company's stock.

Institutional Investors Weigh In On EyePoint Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barclays PLC boosted its position in shares of EyePoint Pharmaceuticals by 103.4% during the 3rd quarter. Barclays PLC now owns 45,659 shares of the company's stock valued at $365,000 after acquiring an additional 23,208 shares during the last quarter. TD Asset Management Inc bought a new stake in EyePoint Pharmaceuticals in the third quarter worth $574,000. Scotia Capital Inc. lifted its position in EyePoint Pharmaceuticals by 144.9% in the third quarter. Scotia Capital Inc. now owns 90,963 shares of the company's stock worth $727,000 after buying an additional 53,820 shares during the last quarter. Jump Financial LLC lifted its position in EyePoint Pharmaceuticals by 318.5% in the third quarter. Jump Financial LLC now owns 48,968 shares of the company's stock worth $391,000 after buying an additional 37,268 shares during the last quarter. Finally, UBS Group AG lifted its position in EyePoint Pharmaceuticals by 487.6% in the third quarter. UBS Group AG now owns 526,848 shares of the company's stock worth $4,210,000 after buying an additional 437,190 shares during the last quarter. 99.41% of the stock is 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.