EyePoint Pharmaceuticals (NASDAQ:EYPT) Trading Down 5.1% – Should You Sell?

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on EYPT. Jefferies Financial Group started coverage on EyePoint Pharmaceuticals in a report on Wednesday, August 28th. They issued a “buy” rating and a $15.00 price target on the stock. JPMorgan Chase & Co. lowered their price target on shares of EyePoint Pharmaceuticals from $32.00 to $29.00 and set an “overweight” rating for the company in a research report on Tuesday, August 13th. Scotiabank assumed coverage on shares of EyePoint Pharmaceuticals in a research report on Wednesday, October 16th. They issued a “sector outperform” rating and a $18.00 price objective on the stock. Chardan Capital increased their price objective on EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, StockNews.com raised shares of EyePoint Pharmaceuticals to a “sell” rating in a report on Saturday, September 21st. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $28.00.

EyePoint Pharmaceuticals Stock Performance

The stock has a 50 day moving average price of $9.78 and a two-hundred day moving average price of $9.58.

Institutional Trading of EyePoint Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of EYPT. Ameritas Investment Partners Inc. boosted its position in shares of EyePoint Pharmaceuticals by 44.0% during the 1st quarter. Ameritas Investment Partners Inc. now owns 3,719 shares of the company’s stock valued at $77,000 after acquiring an additional 1,136 shares in the last quarter. China Universal Asset Management Co. Ltd. raised 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 worth $82,000 after acquiring an additional 4,172 shares in the last quarter. Greenwich Wealth Management LLC lifted 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. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of EyePoint Pharmaceuticals by 271.0% in the 2nd 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. Finally, Cyndeo Wealth Partners LLC acquired a new stake in shares of EyePoint Pharmaceuticals during the 3rd quarter worth about $100,000. 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.