Eyepoint Pharmaceuticals (NASDAQ:EYPT) Stock Sees Heavy Call Option Buying

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) was the recipient of some unusual options trading on Monday. Traders acquired 7,885 call options on the company. This represents an increase of 69% compared to the average volume of 4,661 call options.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on EYPT shares. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $5.00 price objective on shares of Eyepoint Pharmaceuticals in a research report on Tuesday, August 18th. Stifel Nicolaus assumed 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 on the stock. HC Wainwright restated a “neutral” rating on shares of Eyepoint Pharmaceuticals in a research report on Tuesday, August 18th. Citigroup lowered their price target on shares of Eyepoint Pharmaceuticals to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, August 18th. Finally, TD Cowen downgraded shares of Eyepoint Pharmaceuticals from a “buy” rating to a “hold” rating and cut their price target for the company from $20.00 to $4.00 in a report on Wednesday, September 2nd. Four analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $25.70.

Eyepoint Pharmaceuticals Price Performance

Shares of EYPT stock traded down $2.52 during midday trading on Monday, reaching $0.47. 78,354,800 shares of the company traded hands, compared to its average volume of 2,423,693. The firm’s 50 day simple moving average is $5.02 and its two-hundred day simple moving average is $10.39. Eyepoint Pharmaceuticals has a 1-year low of $0.43 and a 1-year high of $19.11. The firm has a market cap of $40.69 million, a PE ratio of -0.12 and a beta of 1.67.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($1.09) EPS for the quarter, missing the consensus estimate of ($1.01) by ($0.08). The firm had revenue of $0.51 million for the quarter, compared to analysts’ expectations of $0.45 million. Eyepoint Pharmaceuticals had a negative return on equity of 135.81% and a negative net margin of 10,994.73%. As a group, research analysts anticipate that Eyepoint Pharmaceuticals will post -3.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Eyepoint Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of EYPT. Cyndeo Wealth Partners LLC grew its stake in Eyepoint Pharmaceuticals by 46.8% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 35,519 shares of the company’s stock worth $116,000 after acquiring an additional 11,329 shares during the period. Engineers Gate Manager LP purchased a new position in shares of Eyepoint Pharmaceuticals during the 2nd quarter worth $161,000. Integrated Wealth Concepts LLC purchased a new position in shares of Eyepoint Pharmaceuticals during the 2nd quarter worth $72,000. Squarepoint Ops LLC lifted its stake in shares of Eyepoint Pharmaceuticals by 22.3% during the 2nd quarter. Squarepoint Ops LLC now owns 98,002 shares of the company’s stock worth $1,401,000 after purchasing an additional 17,883 shares during the period. Finally, Baird Financial Group Inc. boosted its holdings in shares of Eyepoint Pharmaceuticals by 16.4% during the second quarter. Baird Financial Group Inc. now owns 32,732 shares of the company’s stock worth $468,000 after purchasing an additional 4,613 shares during the last quarter. 99.41% of the stock is owned by institutional investors and hedge funds.

About Eyepoint Pharmaceuticals

EyePoint Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing therapies for serious eye diseases. The company specializes in sustained-release drug delivery technologies designed to provide extended treatment in the eye and potentially reduce the frequency of injections or other interventions.

EyePoint’s commercial products include YUTIQ, an intravitreal implant that delivers fluocinolone acetonide for the treatment of chronic non-infectious uveitis affecting the posterior segment of the eye, and DEXYCU, an intraocular suspension of dexamethasone used to treat postoperative inflammation following ocular surgery.