EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Sees Large Growth in Short Interest

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) was the recipient of a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 8,980,000 shares, an increase of 16.0% from the May 31st total of 7,740,000 shares. Based on an average daily volume of 1,100,000 shares, the short-interest ratio is presently 8.2 days.

Insider Buying and Selling

In other EyePoint Pharmaceuticals news, major shareholder Cormorant Asset Management, Lp bought 850,000 shares of EyePoint Pharmaceuticals stock in a transaction dated Monday, May 6th. The stock was acquired at an average cost of $11.86 per share, with a total value of $10,081,000.00. Following the completion of the acquisition, the insider now owns 8,325,000 shares of the company’s stock, valued at $98,734,500. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director David R. Guyer sold 11,625 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $12.65, for a total value of $147,056.25. Following the completion of the sale, the director now directly owns 5,550 shares of the company’s stock, valued at approximately $70,207.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Cormorant Asset Management, Lp acquired 850,000 shares of the business’s stock in a transaction on Monday, May 6th. The stock was acquired at an average price of $11.86 per share, with a total value of $10,081,000.00. Following the transaction, the insider now directly owns 8,325,000 shares of the company’s stock, valued at approximately $98,734,500. The disclosure for this purchase can be found here. 4.74% of the stock is owned by company insiders.

Institutional Investors Weigh In On EyePoint Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC acquired a new position in shares of EyePoint Pharmaceuticals in the 1st quarter valued at $241,000. RA Capital Management L.P. acquired a new position in EyePoint Pharmaceuticals in the first quarter valued at $19,401,000. California State Teachers Retirement System grew its position in EyePoint Pharmaceuticals by 884.2% during the first quarter. California State Teachers Retirement System now owns 43,275 shares of the company’s stock valued at $894,000 after acquiring an additional 38,878 shares during the period. Janus Henderson Group PLC acquired a new stake in EyePoint Pharmaceuticals during the first quarter worth about $555,000. Finally, American International Group Inc. raised its holdings in shares of EyePoint Pharmaceuticals by 38.4% in the 1st quarter. American International Group Inc. now owns 18,378 shares of the company’s stock worth $380,000 after purchasing an additional 5,101 shares during the period. 99.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on EYPT shares. Mizuho decreased their price objective on shares of EyePoint Pharmaceuticals from $39.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, May 7th. StockNews.com cut EyePoint Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. JPMorgan Chase & Co. lowered their target price on EyePoint Pharmaceuticals from $35.00 to $32.00 and set an “overweight” rating on the stock in a report on Tuesday, June 4th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of EyePoint Pharmaceuticals in a research note on Thursday, June 20th. Finally, Chardan Capital restated a “buy” rating and set a $28.00 target price on shares of EyePoint Pharmaceuticals in a report on Friday, June 28th. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.29.

EyePoint Pharmaceuticals Stock Down 3.6 %

EYPT stock opened at $8.01 on Wednesday. EyePoint Pharmaceuticals has a one year low of $5.67 and a one year high of $30.99. The company has a 50 day moving average price of $11.43 and a two-hundred day moving average price of $19.29.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last released its earnings results on Wednesday, May 8th. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.21). The business had revenue of $11.68 million for the quarter, compared to analysts’ expectations of $12.50 million. EyePoint Pharmaceuticals had a negative return on equity of 49.94% and a negative net margin of 157.77%. On average, sell-side analysts anticipate that EyePoint Pharmaceuticals will post -2.21 earnings per share for the current fiscal year.

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.