EyePoint Pharmaceuticals (NASDAQ:EYPT) Shares Up 13.6% – Here’s What Happened

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) shares rose 13.6% during trading on Tuesday . The company traded as high as $7.59 and last traded at $7.39. Approximately 316,922 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 834,465 shares. The stock had previously closed at $6.50.

Wall Street Analyst Weigh In

EYPT has been the subject of a number of analyst reports. Citigroup started coverage on EyePoint Pharmaceuticals in a report on Tuesday, January 7th. They issued a “buy” rating and a $33.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and set a $22.00 target price on shares of EyePoint Pharmaceuticals in a report on Thursday, December 5th. Chardan Capital reaffirmed a “buy” rating and set a $33.00 target price on shares of EyePoint Pharmaceuticals in a report on Thursday, February 6th. Finally, Robert W. Baird reduced their target price 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 equities research 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $26.63.

EyePoint Pharmaceuticals Trading Up 0.6 %

The business has a 50-day moving average price of $7.57 and a two-hundred day moving average price of $8.65. The firm has a market capitalization of $446.36 million, a price-to-earnings ratio of -3.27 and a beta of 1.51.

Institutional Trading of EyePoint Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the stock. Summit Investment Advisors Inc. raised its position in shares of EyePoint Pharmaceuticals by 39.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,838 shares of the company’s stock worth $51,000 after purchasing an additional 1,940 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in EyePoint Pharmaceuticals in the 4th quarter valued at approximately $59,000. Virtus ETF Advisers LLC acquired a new stake in EyePoint Pharmaceuticals in the 4th quarter valued at approximately $67,000. AlphaQuest LLC increased its position in EyePoint Pharmaceuticals by 13,246.6% in the 4th quarter. AlphaQuest LLC now owns 9,743 shares of the company’s stock valued at $73,000 after acquiring an additional 9,670 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in EyePoint Pharmaceuticals in the 4th quarter valued at approximately $76,000. 99.41% of the stock is currently owned by institutional investors and hedge funds.

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.