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

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) was the target of a significant decrease in short interest in November. As of November 30th, there was short interest totalling 9,250,000 shares, a decrease of 6.4% from the November 15th total of 9,880,000 shares. Based on an average trading volume of 855,700 shares, the days-to-cover ratio is currently 10.8 days.

Institutional Investors Weigh In On EyePoint Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. boosted its stake in shares of EyePoint Pharmaceuticals by 68.2% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 10,293 shares of the company’s stock worth $82,000 after buying an additional 4,172 shares during the last quarter. Greenwich Wealth Management LLC lifted its holdings in EyePoint Pharmaceuticals by 8.3% during the third quarter. Greenwich Wealth Management LLC now owns 11,700 shares of the company’s stock worth $93,000 after acquiring an additional 900 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in EyePoint Pharmaceuticals by 271.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,888 shares of the company’s stock worth $95,000 after purchasing an additional 7,953 shares during the last quarter. Cyndeo Wealth Partners LLC bought a new position in EyePoint Pharmaceuticals in the 3rd quarter valued at $100,000. Finally, Arizona State Retirement System increased its position in shares of EyePoint Pharmaceuticals by 9.7% during the 2nd quarter. Arizona State Retirement System now owns 13,251 shares of the company’s stock valued at $115,000 after purchasing an additional 1,171 shares during the last quarter. 99.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $22.00 price target on shares of EyePoint Pharmaceuticals in a research note on Thursday, December 5th. StockNews.com raised EyePoint Pharmaceuticals to a “sell” rating in a research note on Saturday, September 21st. Robert W. Baird reduced their price objective on EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. Scotiabank initiated coverage on EyePoint Pharmaceuticals in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $18.00 target price on the stock. Finally, Chardan Capital lifted their price target on shares of EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating and nine have given 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 $25.71.

EyePoint Pharmaceuticals Price Performance

EYPT opened at $8.02 on Wednesday. The firm’s fifty day moving average price is $9.78 and its two-hundred day moving average price is $9.14. The company has a market capitalization of $547.37 million, a price-to-earnings ratio of -4.01 and a beta of 1.45. EyePoint Pharmaceuticals has a 1 year low of $7.21 and a 1 year high of $30.99.

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.