Eyepoint Pharmaceuticals (NASDAQ:EYPT) Stock Price Down 6.5% – Time to Sell?

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) was down 6.5% on Monday . The stock traded as low as $12.28 and last traded at $12.1860. Approximately 528,467 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 1,161,261 shares. The stock had previously closed at $13.03.

Analyst Upgrades and Downgrades

EYPT has been the subject of several research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research report on Tuesday, April 21st. Royal Bank Of Canada decreased their target price on Eyepoint Pharmaceuticals from $39.00 to $37.00 and set an “outperform” rating for the company in a research report on Thursday, May 7th. Citigroup increased their target price on Eyepoint Pharmaceuticals from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, March 9th. HC Wainwright increased their target price on Eyepoint Pharmaceuticals from $23.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Finally, Chardan Capital increased their target price on Eyepoint Pharmaceuticals from $27.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $31.80.

Eyepoint Pharmaceuticals Stock Performance

The stock has a market cap of $1.01 billion, a P/E ratio of -3.45 and a beta of 1.72. The firm has a 50-day moving average price of $13.31 and a 200-day moving average price of $14.70.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last announced its earnings results on Wednesday, May 6th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.79) by ($0.20). Eyepoint Pharmaceuticals had a negative return on equity of 110.54% and a negative net margin of 3,566.63%.The firm had revenue of $0.70 million during the quarter, compared to the consensus estimate of $0.35 million. On average, research analysts predict that Eyepoint Pharmaceuticals, Inc. will post -3.09 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Ramiro Ribeiro sold 2,437 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $15.00, for a total transaction of $36,555.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 5.13% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. KBC Group NV bought a new position in Eyepoint Pharmaceuticals during the 1st quarter valued at approximately $29,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Eyepoint Pharmaceuticals by 51.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,023 shares of the company’s stock worth $74,000 after purchasing an additional 1,358 shares in the last quarter. California State Teachers Retirement System increased its holdings in shares of Eyepoint Pharmaceuticals by 20.6% in the 4th quarter. California State Teachers Retirement System now owns 4,654 shares of the company’s stock worth $85,000 after purchasing an additional 794 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Eyepoint Pharmaceuticals in the 3rd quarter worth $76,000. Finally, Persistent Asset Partners Ltd bought a new stake in shares of Eyepoint Pharmaceuticals in the 4th quarter worth $98,000. Institutional investors own 99.41% of the company’s stock.

About Eyepoint Pharmaceuticals

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.