EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Sees Significant Increase in Short Interest

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) saw a significant increase in short interest in 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 trading volume of 1,100,000 shares, the short-interest ratio is presently 8.2 days.

Insider Buying and Selling at EyePoint Pharmaceuticals

In related news, major shareholder Cormorant Asset Management, Lp acquired 581,765 shares of the stock in a transaction dated Thursday, April 18th. The stock was acquired at an average cost of $18.03 per share, for a total transaction of $10,489,222.95. Following the completion of the purchase, the insider now owns 7,475,000 shares of the company’s stock, valued at approximately $134,774,250. The purchase was disclosed in a document filed with the SEC, which is available through this link. In related news, major shareholder Cormorant Asset Management, Lp acquired 581,765 shares of the stock in a transaction dated Thursday, April 18th. The stock was acquired at an average cost of $18.03 per share, for a total transaction of $10,489,222.95. Following the completion of the purchase, the insider now owns 7,475,000 shares of the company’s stock, valued at approximately $134,774,250. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director David R. Guyer sold 11,625 shares of EyePoint Pharmaceuticals stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $12.65, for a total transaction of $147,056.25. Following the sale, the director now owns 5,550 shares of the company’s stock, valued at $70,207.50. The disclosure for this sale can be found here. 4.74% of the stock is owned by insiders.

Hedge Funds Weigh In On EyePoint Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the business. FNY Investment Advisers LLC acquired a new position in EyePoint Pharmaceuticals during the fourth quarter worth about $27,000. Ameritas Investment Partners Inc. boosted its position in EyePoint Pharmaceuticals by 44.0% during the first quarter. Ameritas Investment Partners Inc. now owns 3,719 shares of the company’s stock worth $77,000 after acquiring an additional 1,136 shares during the last quarter. China Universal Asset Management Co. Ltd. acquired a new position in EyePoint Pharmaceuticals during the fourth quarter worth about $94,000. Sherbrooke Park Advisers LLC acquired a new position in EyePoint Pharmaceuticals during the third quarter worth about $101,000. Finally, Tower Research Capital LLC TRC boosted its position in EyePoint Pharmaceuticals by 36.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,724 shares of the company’s stock worth $109,000 after acquiring an additional 1,250 shares during the last quarter. 99.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on EYPT shares. Cantor Fitzgerald reissued an “overweight” rating on shares of EyePoint Pharmaceuticals in a report on Thursday, June 20th. Mizuho cut their price objective on shares of EyePoint Pharmaceuticals from $39.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, May 7th. StockNews.com cut shares of EyePoint Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price objective on shares of EyePoint Pharmaceuticals in a report on Thursday. Finally, JPMorgan Chase & Co. cut their price objective on shares of EyePoint Pharmaceuticals from $35.00 to $32.00 and set an “overweight” rating for the company in a report on Tuesday, June 4th. One analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $33.29.

EyePoint Pharmaceuticals Stock Down 0.6 %

EYPT stock opened at $8.70 on Monday. The stock has a market capitalization of $453.10 million, a P/E ratio of -4.78 and a beta of 1.59. The firm has a 50-day simple moving average of $11.79 and a 200-day simple moving average of $19.46. EyePoint Pharmaceuticals has a 52 week low of $5.67 and a 52 week high of $30.99.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last released its earnings results on Wednesday, May 8th. The company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.21). The company 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, analysts expect that EyePoint Pharmaceuticals will post -2.21 earnings per share for the current year.

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.