Stock Traders Purchase Large Volume of Eyepoint Pharmaceuticals Put Options (NASDAQ:EYPT)

Key Points

• Put-option activity surged: Traders purchased 2,380 Eyepoint Pharmaceuticals put options, 73% above the stock’s average daily put volume, signaling increased bearish or hedging activity.
• Eyepoint shares traded near $13.52, well below the analyst consensus price target of $44.38. The company missed quarterly EPS expectations, reporting a loss of $1.09 per share versus the expected loss of $1.01.
• Despite the options activity and weak earnings, Wall Street’s consensus rating remains “Moderate Buy”; eight of nine analysts rate the stock Buy or Strong Buy. Institutional investors own 99.41% of the company’s shares.

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Get Free Report) saw unusually large options trading on Thursday. Traders bought 2,380 put options on the stock. This represents an increase of 73% compared to the average daily volume of 1,378 put options.

Eyepoint Pharmaceuticals Stock Performance

Shares of NASDAQ EYPT traded down $0.01 during mid-day trading on Thursday, reaching $13.52. 145,016 shares of the company's stock were exchanged, compared to its average volume of 1,289,279. Eyepoint Pharmaceuticals has a 52-week low of $9.65 and a 52-week high of $19.11. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of -3.61 and a beta of 1.76. The company's 50-day moving average is $13.14 and its 200-day moving average is $13.71.

Eyepoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($1.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.01) by ($0.08). Eyepoint Pharmaceuticals had a negative net margin of 10,994.73% and a negative return on equity of 135.81%. The company had revenue of $0.51 million during the quarter, compared to analysts' expectations of $0.45 million. As a group, equities analysts predict that Eyepoint Pharmaceuticals will post -3.46 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

EYPT has been the topic of a number of recent research reports. Chardan Capital restated a "buy" rating and set a $65.00 price target on shares of Eyepoint Pharmaceuticals in a research report on Friday, August 7th. Stifel Nicolaus began coverage on shares of Eyepoint Pharmaceuticals in a report on Thursday, July 16th. They issued a "buy" rating and a $40.00 price objective for the company. HC Wainwright decreased their target price on shares of Eyepoint Pharmaceuticals from $30.00 to $27.00 and set a "buy" rating on the stock in a research note on Thursday, August 6th. Cantor Fitzgerald raised their target price on shares of Eyepoint Pharmaceuticals from $47.00 to $55.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Finally, Guggenheim restated a "buy" rating and set a $68.00 target price on shares of Eyepoint Pharmaceuticals in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Eyepoint Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average price target of $44.38.

Institutional Investors Weigh In On Eyepoint Pharmaceuticals

Large investors have recently modified their holdings of the company. Suvretta Capital Management LLC increased its holdings in Eyepoint Pharmaceuticals by 26.4% in the fourth quarter. Suvretta Capital Management LLC now owns 7,827,685 shares of the company's stock valued at $143,012,000 after buying an additional 1,634,970 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its position in Eyepoint Pharmaceuticals by 9.7% during the second quarter. Adage Capital Partners GP L.L.C. now owns 6,800,000 shares of the company's stock worth $63,988,000 after buying an additional 600,000 shares during the period. Federated Hermes Inc. raised its position in Eyepoint Pharmaceuticals by 36.3% in the 4th quarter. Federated Hermes Inc. now owns 6,017,433 shares of the company's stock valued at $109,938,000 after purchasing an additional 1,601,101 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Eyepoint Pharmaceuticals by 19.3% in the fourth quarter. Franklin Resources Inc. now owns 4,976,915 shares of the company's stock valued at $90,928,000 after buying an additional 805,031 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Eyepoint Pharmaceuticals by 27.1% during the 4th quarter. Vanguard Group Inc. now owns 4,822,139 shares of the company's stock worth $88,100,000 after acquiring an additional 1,027,623 shares during the period. 99.41% of the stock is owned by hedge funds and other institutional investors.

Eyepoint Pharmaceuticals Company Profile

Eyepoint Pharmaceuticals, Inc is a biopharmaceutical company focused on the development and commercialization of therapies for the treatment of ocular diseases. The company's proprietary platform centers on sustained-release formulations designed to improve drug delivery to the posterior segment of the eye, addressing conditions that often require repeated intravitreal injections or intensive topical regimens. Eyepoint's commercial strategy combines in-house sales and marketing capabilities with targeted partnerships to bring its therapies to ophthalmologists and retina specialists across the United States.

Eyepoint's lead products include YUTIQ, a fluocinolone acetonide intravitreal implant indicated for the prevention of relapse in non-infectious uveitis affecting the posterior segment of the eye, and DEXYCU, a dexamethasone intraocular suspension approved for postoperative inflammation following ocular surgery.

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