EyePoint Pharmaceuticals (NASDAQ:EYPT) Shares Gap Down After Insider Selling

by · The Cerbat Gem

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT – Get Free Report) gapped down before the market opened on Friday following insider selling activity. The stock had previously closed at $21.18, but opened at $20.32. EyePoint Pharmaceuticals shares last traded at $21.06, with a volume of 237,475 shares.

Specifically, Director Ye Liu sold 266,242 shares of the stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $18.41, for a total transaction of $4,901,515.22. Following the transaction, the director now owns 2,010,721 shares of the company’s stock, valued at approximately $37,017,373.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Michael Craig Pine sold 45,000 shares of the firm’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $22.00, for a total transaction of $990,000.00. Following the sale, the insider now owns 5,343 shares of the company’s stock, valued at $117,546. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ye Liu sold 266,242 shares of the firm’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $18.41, for a total value of $4,901,515.22. Following the sale, the director now directly owns 2,010,721 shares in the company, valued at approximately $37,017,373.61. The disclosure for this sale can be found here. Corporate insiders own 13.05% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on EYPT. Cantor Fitzgerald reissued an “overweight” rating and set a $31.00 price objective on shares of EyePoint Pharmaceuticals in a research note on Thursday, September 14th. StockNews.com assumed coverage on EyePoint Pharmaceuticals in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Mizuho upped their price target on EyePoint Pharmaceuticals from $20.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday. Finally, HC Wainwright upped their price target on EyePoint Pharmaceuticals from $25.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $30.20.

Check Out Our Latest Stock Analysis on EyePoint Pharmaceuticals

EyePoint Pharmaceuticals Stock Performance

The company has a 50 day moving average of $8.07 and a 200-day moving average of $9.05. The stock has a market cap of $744.31 million, a price-to-earnings ratio of -7.96 and a beta of 1.25.

EyePoint Pharmaceuticals (NASDAQ:EYPT – Get Free Report) last posted its earnings results on Wednesday, November 1st. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.62) by $0.29. EyePoint Pharmaceuticals had a negative return on equity of 109.34% and a negative net margin of 235.51%. The firm had revenue of $15.20 million for the quarter, compared to analyst estimates of $3.90 million. On average, research analysts anticipate that EyePoint Pharmaceuticals, Inc. will post -2 EPS for the current year.

Hedge Funds Weigh In On EyePoint Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. Graham Capital Management L.P. acquired a new stake in EyePoint Pharmaceuticals in the 3rd quarter valued at about $240,000. The Manufacturers Life Insurance Company acquired a new stake in EyePoint Pharmaceuticals in the 3rd quarter valued at about $423,000. Scotia Capital Inc. raised its position in EyePoint Pharmaceuticals by 144.9% in the 3rd quarter. Scotia Capital Inc. now owns 90,963 shares of the company’s stock valued at $727,000 after purchasing an additional 53,820 shares in the last quarter. Ameriprise Financial Inc. acquired a new stake in EyePoint Pharmaceuticals in the 3rd quarter valued at about $83,000. Finally, AQR Capital Management LLC acquired a new stake in EyePoint Pharmaceuticals in the 3rd quarter valued at about $122,000. Institutional investors and hedge funds own 99.41% of the company’s stock.

About EyePoint Pharmaceuticals

(Get Free Report)

EyePoint Pharmaceuticals, Inc focuses on developing and commercializing therapeutics to help improve the lives of patients with serious eye disorders. The company's pipeline leverages its proprietary erodible Durasert E technology for sustained intraocular drug delivery, including EYP-1901, an investigational sustained delivery intravitreal anti-VEGF treatment, which is in Phase 2 clinical trials.

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