Traders Buy Large Volume of Put Options on Eyepoint Pharmaceuticals (NASDAQ:EYPT)

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) saw some unusual options trading on Thursday. Investors acquired 2,380 put options on the company. This is an increase of approximately 73% compared to the typical daily volume of 1,378 put options.

Institutional Trading of Eyepoint Pharmaceuticals

A number of hedge funds have recently made changes to their positions in EYPT. KBC Group NV bought a new stake in shares of Eyepoint Pharmaceuticals in the first quarter worth $29,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Eyepoint Pharmaceuticals by 51.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,023 shares of the company’s stock valued at $74,000 after acquiring an additional 1,358 shares during the last quarter. California State Teachers Retirement System boosted its stake in Eyepoint Pharmaceuticals by 20.6% during the 4th quarter. California State Teachers Retirement System now owns 4,654 shares of the company’s stock valued at $85,000 after acquiring an additional 794 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in Eyepoint Pharmaceuticals during the 3rd quarter worth $76,000. Finally, Persistent Asset Partners Ltd acquired a new position in Eyepoint Pharmaceuticals during the 4th quarter worth $98,000. Institutional investors and hedge funds own 99.41% of the company’s stock.

Wall Street Analyst Weigh In

EYPT has been the topic of a number of recent analyst reports. HC Wainwright lowered their price target on shares of Eyepoint Pharmaceuticals from $30.00 to $27.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Guggenheim reissued a “buy” rating and issued a $68.00 target price on shares of Eyepoint Pharmaceuticals in a research note on Wednesday, June 24th. Royal Bank Of Canada decreased their price objective on Eyepoint Pharmaceuticals from $39.00 to $37.00 and set an “outperform” rating on the stock in a report on Thursday, May 7th. Cantor Fitzgerald boosted their price objective on shares of Eyepoint Pharmaceuticals from $47.00 to $55.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Finally, Stifel Nicolaus began coverage on shares of Eyepoint Pharmaceuticals in a research report on Thursday, July 16th. They set a “buy” rating and a $40.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Eyepoint Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $44.38.

Eyepoint Pharmaceuticals Stock Performance

Shares of NASDAQ:EYPT traded down $0.01 during trading on Thursday, hitting $13.52. The company’s stock had a trading volume of 145,016 shares, compared to its average volume of 1,289,279. The company has a market capitalization of $1.17 billion, a PE ratio of -3.61 and a beta of 1.76. Eyepoint Pharmaceuticals has a fifty-two week low of $9.65 and a fifty-two week high of $19.11. The stock’s 50-day moving average price is $13.14 and its two-hundred day moving average price is $13.71.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($1.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.08). Eyepoint Pharmaceuticals had a negative net margin of 10,994.73% and a negative return on equity of 135.81%. The business had revenue of $0.51 million for the quarter, compared to analyst estimates of $0.45 million. On average, equities analysts predict that Eyepoint Pharmaceuticals will post -3.46 earnings per share for the current fiscal year.

Eyepoint Pharmaceuticals Company Profile

Eyepoint Pharmaceuticals, Inc is a biopharmaceutical company focused on the development and commercialization of therapies for the treatment of ocular diseases. The company’s proprietary platform centers on sustained-release formulations designed to improve drug delivery to the posterior segment of the eye, addressing conditions that often require repeated intravitreal injections or intensive topical regimens. Eyepoint’s commercial strategy combines in-house sales and marketing capabilities with targeted partnerships to bring its therapies to ophthalmologists and retina specialists across the United States.

Eyepoint’s lead products include YUTIQ, a fluocinolone acetonide intravitreal implant indicated for the prevention of relapse in non-infectious uveitis affecting the posterior segment of the eye, and DEXYCU, a dexamethasone intraocular suspension approved for postoperative inflammation following ocular surgery.