EyePoint Pharmaceuticals (NASDAQ:EYPT) Shares Gap Up After Insider Buying Activity

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) gapped up prior to trading on Tuesday following insider buying activity. The stock had previously closed at $16.95, but opened at $18.26. EyePoint Pharmaceuticals shares last traded at $17.98, with a volume of 100,302 shares traded.

Specifically, insider Dario A. Paggiarino sold 49,325 shares of EyePoint Pharmaceuticals stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $25.66, for a total transaction of $1,265,679.50. Following the transaction, the insider now owns 36,505 shares of the company’s stock, valued at $936,718.30. The transaction was disclosed in a filing with the SEC, which is available at this link. In other EyePoint Pharmaceuticals news, major shareholder Cormorant Asset Management, Lp acquired 581,765 shares of the company’s stock in a transaction that occurred on Thursday, April 18th. The shares were purchased at an average price of $18.03 per share, with a total value of $10,489,222.95. Following the completion of the acquisition, the insider now directly owns 7,475,000 shares of the company’s stock, valued at approximately $134,774,250. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Dario A. Paggiarino sold 49,325 shares of the company’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $25.66, for a total value of $1,265,679.50. Following the transaction, the insider now directly owns 36,505 shares in the company, valued at approximately $936,718.30. The disclosure for this sale can be found here. Company insiders own 13.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on EYPT shares. Mizuho upped their price objective on EyePoint Pharmaceuticals from $30.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Capital One Financial restated an “overweight” rating on shares of EyePoint Pharmaceuticals in a research report on Friday, February 16th. HC Wainwright reduced their price objective on EyePoint Pharmaceuticals from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Tuesday, January 16th. Finally, JPMorgan Chase & Co. initiated coverage on EyePoint Pharmaceuticals in a research report on Monday, January 22nd. They issued an “overweight” rating and a $35.00 price objective on the stock. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $34.00.

EyePoint Pharmaceuticals Price Performance

The company has a 50-day moving average of $23.19 and a two-hundred day moving average of $18.60. The stock has a market capitalization of $820.70 million, a PE ratio of -9.00 and a beta of 1.64.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last released its quarterly earnings data on Thursday, March 7th. The company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.27. The company had revenue of $14.03 million for the quarter, compared to the consensus estimate of $8.71 million. EyePoint Pharmaceuticals had a negative return on equity of 61.48% and a negative net margin of 153.84%. During the same period last year, the business posted ($0.61) EPS. On average, research analysts forecast that EyePoint Pharmaceuticals, Inc. will post -1.73 EPS for the current fiscal year.

Hedge Funds Weigh In On EyePoint Pharmaceuticals

A number of large investors have recently modified their holdings of EYPT. Woodstock Corp grew its stake in shares of EyePoint Pharmaceuticals by 38.3% in the first quarter. Woodstock Corp now owns 30,778 shares of the company’s stock valued at $636,000 after buying an additional 8,525 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of EyePoint Pharmaceuticals in the fourth quarter valued at about $3,166,000. Sierra Summit Advisors LLC acquired a new stake in shares of EyePoint Pharmaceuticals in the fourth quarter valued at about $523,000. PFM Health Sciences LP acquired a new stake in shares of EyePoint Pharmaceuticals in the fourth quarter valued at about $3,949,000. Finally, Artia Global Partners LP acquired a new stake in shares of EyePoint Pharmaceuticals in the fourth quarter valued at about $1,156,000. 99.41% of the stock is currently owned by hedge funds and other institutional investors.

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.