EyePoint Pharmaceuticals (NASDAQ:EYPT) Shares Gap Up – Here’s What Happened

Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) gapped up before the market opened on Tuesday . The stock had previously closed at $8.68, but opened at $9.19. EyePoint Pharmaceuticals shares last traded at $9.40, with a volume of 107,868 shares changing hands.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. StockNews.com raised shares of EyePoint Pharmaceuticals to a “sell” rating in a research report on Saturday, September 21st. Chardan Capital lifted their price target on shares of EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, November 8th. HC Wainwright reaffirmed a “buy” rating and set a $22.00 target price on shares of EyePoint Pharmaceuticals in a research note on Thursday, December 5th. Scotiabank assumed coverage on EyePoint Pharmaceuticals in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $18.00 price target on the stock. Finally, Citigroup assumed coverage on EyePoint Pharmaceuticals in a research report on Tuesday. They issued a “buy” rating and a $33.00 target price for the company. One investment analyst has rated the stock with a sell rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $26.63.

EyePoint Pharmaceuticals Price Performance

The company has a 50-day moving average of $9.05 and a two-hundred day moving average of $8.98. The stock has a market capitalization of $608.80 million, a PE ratio of -4.46 and a beta of 1.49.

Hedge Funds Weigh In On EyePoint Pharmaceuticals

A number of large investors have recently modified their holdings of the company. Greenwich Wealth Management LLC raised its holdings in shares of EyePoint Pharmaceuticals by 8.3% in the 3rd quarter. Greenwich Wealth Management LLC now owns 11,700 shares of the company’s stock worth $93,000 after purchasing an additional 900 shares during the period. Arizona State Retirement System grew its stake in EyePoint Pharmaceuticals by 9.7% during the 2nd quarter. Arizona State Retirement System now owns 13,251 shares of the company’s stock valued at $115,000 after purchasing an additional 1,171 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in EyePoint Pharmaceuticals by 68.2% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 10,293 shares of the company’s stock valued at $82,000 after purchasing an additional 4,172 shares in the last quarter. Fiera Capital Corp grew its position in shares of EyePoint Pharmaceuticals by 0.9% in the 2nd quarter. Fiera Capital Corp now owns 677,038 shares of the company’s stock worth $5,890,000 after acquiring an additional 5,920 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position 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 acquiring an additional 7,953 shares in the last quarter. 99.41% of the stock is currently owned by hedge funds and other 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.