Short Interest in EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Increases By 9.9%

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) was the recipient of a large increase in short interest in the month of January. As of January 15th, there was short interest totalling 10,340,000 shares, an increase of 9.9% from the December 31st total of 9,410,000 shares. Based on an average trading volume of 956,300 shares, the days-to-cover ratio is presently 10.8 days.

EyePoint Pharmaceuticals Stock Down 6.3 %

NASDAQ:EYPT traded down $0.48 during trading hours on Monday, reaching $7.17. 910,150 shares of the company’s stock were exchanged, compared to its average volume of 721,688. The company has a market capitalization of $489.35 million, a P/E ratio of -3.59 and a beta of 1.51. EyePoint Pharmaceuticals has a 12 month low of $6.90 and a 12 month high of $30.99. The business’s 50-day simple moving average is $8.06 and its two-hundred day simple moving average is $8.86.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.06). The company had revenue of $10.52 million for the quarter, compared to the consensus estimate of $12.35 million. EyePoint Pharmaceuticals had a negative return on equity of 43.01% and a negative net margin of 226.57%. As a group, sell-side analysts anticipate that EyePoint Pharmaceuticals will post -2.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

EYPT has been the subject of a number of analyst reports. Chardan Capital boosted their price target on EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Robert W. Baird reduced their price objective on shares of EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating for the company in a report on Monday, November 11th. HC Wainwright reissued a “buy” rating and set a $22.00 target price on shares of EyePoint Pharmaceuticals in a research note on Thursday, December 5th. Citigroup began coverage on shares of EyePoint Pharmaceuticals in a report on Tuesday, January 7th. They issued a “buy” rating and a $33.00 price objective for the company. Finally, Scotiabank started coverage on EyePoint Pharmaceuticals in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $18.00 target price on the stock. One research analyst has rated the stock with a sell rating and ten have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.63.

Hedge Funds Weigh In On EyePoint Pharmaceuticals

A number of institutional investors have recently bought and sold shares of EYPT. China Universal Asset Management Co. Ltd. lifted its stake in EyePoint Pharmaceuticals by 68.2% during the third quarter. China Universal Asset Management Co. Ltd. now owns 10,293 shares of the company’s stock valued at $82,000 after buying an additional 4,172 shares in the last quarter. Greenwich Wealth Management LLC raised its holdings in shares of EyePoint Pharmaceuticals by 8.3% during the third quarter. Greenwich Wealth Management LLC now owns 11,700 shares of the company’s stock valued at $93,000 after acquiring an additional 900 shares during the period. Cyndeo Wealth Partners LLC purchased a new stake in shares of EyePoint Pharmaceuticals in the 3rd quarter valued at approximately $100,000. Intech Investment Management LLC acquired a new position in EyePoint Pharmaceuticals in the 3rd quarter worth approximately $136,000. Finally, Deltec Asset Management LLC purchased a new position in EyePoint Pharmaceuticals during the 4th quarter worth approximately $151,000. Hedge funds and other institutional investors own 99.41% of the company’s stock.

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.