EyePoint Pharmaceuticals (NASDAQ:EYPT) Shares Gap Up Following Insider Buying Activity

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) shares gapped up before the market opened on Tuesday after an insider bought additional shares in the company. The stock had previously closed at $16.95, but opened at $18.26. EyePoint Pharmaceuticals shares last traded at $17.98, with a volume of 100,302 shares.

Specifically, insider Dario A. Paggiarino sold 49,325 shares of the firm’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $25.66, for a total value of $1,265,679.50. Following the sale, the insider now owns 36,505 shares of the company’s stock, valued at approximately $936,718.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, major shareholder Cormorant Asset Management, Lp acquired 581,765 shares of the firm’s stock in a transaction that occurred on Thursday, April 18th. The shares were bought at an average cost of $18.03 per share, with a total value of $10,489,222.95. Following the acquisition, the insider now owns 7,475,000 shares in the company, valued at approximately $134,774,250. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Dario A. Paggiarino sold 49,325 shares of the firm’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $25.66, for a total value of $1,265,679.50. Following the transaction, the insider now directly owns 36,505 shares in the company, valued at $936,718.30. The disclosure for this sale can be found here. Insiders have sold a total of 50,134 shares of company stock valued at $1,286,634 in the last 90 days. Corporate insiders own 13.05% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. HC Wainwright decreased their price objective on EyePoint Pharmaceuticals from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Tuesday, January 16th. Mizuho raised their price target on EyePoint Pharmaceuticals from $30.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Capital One Financial restated an “overweight” rating on shares of EyePoint Pharmaceuticals in a research report on Friday, February 16th. Finally, JPMorgan Chase & Co. began coverage on EyePoint Pharmaceuticals in a research report on Monday, January 22nd. They set an “overweight” rating and a $35.00 price target on the stock. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $34.00.

EyePoint Pharmaceuticals Stock Performance

The stock has a market capitalization of $913.38 million, a P/E ratio of -9.90 and a beta of 1.64. The stock has a 50-day moving average price of $23.43 and a two-hundred day moving average price of $18.54.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last issued its quarterly earnings data on Thursday, March 7th. The company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.27. The firm had revenue of $14.03 million for the quarter, compared to analyst estimates of $8.71 million. EyePoint Pharmaceuticals had a negative return on equity of 61.48% and a negative net margin of 153.84%. During the same period last year, the company earned ($0.61) EPS. Equities analysts anticipate that EyePoint Pharmaceuticals, Inc. will post -1.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On EyePoint Pharmaceuticals

Large investors have recently made changes to their positions in the business. FNY Investment Advisers LLC bought a new stake in shares of EyePoint Pharmaceuticals in the 4th quarter worth approximately $27,000. China Universal Asset Management Co. Ltd. purchased a new position in shares of EyePoint Pharmaceuticals in the 4th quarter valued at approximately $94,000. Sherbrooke Park Advisers LLC purchased a new position in shares of EyePoint Pharmaceuticals in the 3rd quarter valued at approximately $101,000. Tower Research Capital LLC TRC lifted its stake in shares of EyePoint Pharmaceuticals by 36.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,724 shares of the company’s stock valued at $109,000 after purchasing an additional 1,250 shares during the period. Finally, Toth Financial Advisory Corp lifted its stake in shares of EyePoint Pharmaceuticals by 42.9% in the 4th quarter. Toth Financial Advisory Corp now owns 5,000 shares of the company’s stock valued at $116,000 after purchasing an additional 1,500 shares during the period. 99.41% of the stock is currently owned by institutional investors.

EyePoint Pharmaceuticals Company Profile

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.