EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Short Interest Update

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) was the recipient of a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 9,680,000 shares, an increase of 5.6% from the October 15th total of 9,170,000 shares. Based on an average daily trading volume, of 738,100 shares, the days-to-cover ratio is presently 13.1 days.

Institutional Investors Weigh In On EyePoint Pharmaceuticals

Several large investors have recently bought and sold shares of EYPT. Geode Capital Management LLC boosted its holdings in shares of EyePoint Pharmaceuticals by 16.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,199,056 shares of the company’s stock valued at $9,583,000 after acquiring an additional 166,699 shares during the last quarter. Barclays PLC boosted its holdings in EyePoint Pharmaceuticals by 410.4% in the third quarter. Barclays PLC now owns 245,045 shares of the company’s stock worth $1,959,000 after purchasing an additional 197,033 shares during the last quarter. Wellington Management Group LLP grew its position in EyePoint Pharmaceuticals by 59.4% in the 3rd quarter. Wellington Management Group LLP now owns 171,764 shares of the company’s stock worth $1,372,000 after purchasing an additional 64,008 shares during the period. Patient Square Capital LP purchased a new stake in EyePoint Pharmaceuticals during the 3rd quarter valued at $10,882,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of EyePoint Pharmaceuticals by 5.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 142,763 shares of the company’s stock valued at $1,141,000 after buying an additional 7,967 shares during the period. 99.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Scotiabank began coverage on shares of EyePoint Pharmaceuticals in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $18.00 target price on the stock. JPMorgan Chase & Co. lowered their target price on EyePoint Pharmaceuticals from $32.00 to $29.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 13th. Jefferies Financial Group initiated coverage on EyePoint Pharmaceuticals in a report on Wednesday, August 28th. They set a “buy” rating and a $15.00 price target for the company. Chardan Capital increased their price target on EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, Robert W. Baird dropped their price objective on EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. One analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, EyePoint Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $28.00.

EyePoint Pharmaceuticals Stock Performance

EYPT stock traded up $0.39 on Tuesday, reaching $8.97. The company’s stock had a trading volume of 618,088 shares, compared to its average volume of 936,028. The business has a fifty day simple moving average of $9.74 and a two-hundred day simple moving average of $9.66. EyePoint Pharmaceuticals has a 12-month low of $5.86 and a 12-month high of $30.99. The firm has a market cap of $612.20 million, a PE ratio of -4.48 and a beta of 1.50.

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.