EyePoint Pharmaceuticals (NASDAQ:EYPT) Trading Down 5.1% – Time to Sell?

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) was down 5.1% during trading on Thursday . The company traded as low as $8.46 and last traded at $8.50. Approximately 690,171 shares traded hands during trading, a decline of 26% from the average daily volume of 938,566 shares. The stock had previously closed at $8.96.

Analyst Ratings Changes

A number of analysts have commented on the stock. JPMorgan Chase & Co. lowered their target price on shares of EyePoint Pharmaceuticals from $32.00 to $29.00 and set an “overweight” rating for the company in a report on Tuesday, August 13th. Scotiabank assumed coverage on EyePoint Pharmaceuticals in a research note on Wednesday, October 16th. They set a “sector outperform” rating and a $18.00 price objective for the company. HC Wainwright decreased their target price on EyePoint Pharmaceuticals from $30.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, November 11th. Robert W. Baird cut their price target on shares of EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. Finally, Chardan Capital boosted their price objective on shares of EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the company a “buy” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, EyePoint Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $28.00.

EyePoint Pharmaceuticals Trading Down 6.7 %

The business’s fifty day moving average is $9.78 and its 200 day moving average is $9.58.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. increased 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 buying an additional 1,136 shares during the last quarter. ProShare Advisors LLC acquired a new position in shares of EyePoint Pharmaceuticals during the 1st quarter worth approximately $209,000. China Universal Asset Management Co. Ltd. raised its stake in 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 valued at $82,000 after acquiring an additional 4,172 shares during the period. Greenwich Wealth Management LLC acquired a new stake in EyePoint Pharmaceuticals during the 2nd quarter valued at $94,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of EyePoint Pharmaceuticals by 271.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,888 shares of the company’s stock valued at $95,000 after purchasing an additional 7,953 shares during the last quarter. 99.41% of the stock is 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.