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 following insider buying activity. 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 traded.

Specifically, insider Dario A. Paggiarino sold 49,325 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now owns 36,505 shares of the company’s stock, valued at $936,718.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Cormorant Asset Management, Lp purchased 581,765 shares of the business’s stock in a transaction that occurred on Thursday, April 18th. The stock was acquired at an average cost of $18.03 per share, for a total transaction of $10,489,222.95. Following the completion of the purchase, the insider now owns 7,475,000 shares in the company, valued at approximately $134,774,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Dario A. Paggiarino sold 49,325 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 36,505 shares of the company’s stock, valued at $936,718.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,134 shares of company stock valued at $1,286,634. 13.05% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Mizuho boosted their price target on EyePoint Pharmaceuticals from $30.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, February 16th. HC Wainwright cut their target price on EyePoint Pharmaceuticals from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Tuesday, January 16th. JPMorgan Chase & Co. started coverage on EyePoint Pharmaceuticals in a research note on Monday, January 22nd. They set an “overweight” rating and a $35.00 target price for the company. Finally, Capital One Financial restated an “overweight” rating on shares of EyePoint Pharmaceuticals in a research note on Friday, February 16th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, EyePoint Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $34.00.

EyePoint Pharmaceuticals Stock Up 3.7 %

The stock has a market capitalization of $875.51 million, a P/E ratio of -9.60 and a beta of 1.64. The firm has a 50 day simple moving average of $23.19 and a two-hundred day simple moving average of $18.60.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last announced its quarterly earnings results on Thursday, March 7th. The company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.27. EyePoint Pharmaceuticals had a negative return on equity of 61.48% and a negative net margin of 153.84%. The company had revenue of $14.03 million during the quarter, compared to analysts’ expectations of $8.71 million. During the same period in the prior year, the company earned ($0.61) EPS. On average, research analysts predict that EyePoint Pharmaceuticals, Inc. will post -1.73 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. FNY Investment Advisers LLC bought a new position in shares of EyePoint Pharmaceuticals in the 4th quarter valued at $27,000. China Universal Asset Management Co. Ltd. acquired a new stake in EyePoint Pharmaceuticals in the fourth quarter valued at $94,000. Sherbrooke Park Advisers LLC acquired a new stake in EyePoint Pharmaceuticals in the third quarter valued at $101,000. Tower Research Capital LLC TRC increased its holdings in EyePoint Pharmaceuticals by 36.0% in the fourth 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 increased its holdings in EyePoint Pharmaceuticals by 42.9% in the fourth 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.

About EyePoint Pharmaceuticals

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.