EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Short Interest Update

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) saw a large growth in short interest in October. As of October 31st, there was short interest totalling 9,680,000 shares, a growth of 5.6% from the October 15th total of 9,170,000 shares. Based on an average daily volume of 738,100 shares, the short-interest ratio is currently 13.1 days.

EyePoint Pharmaceuticals Stock Performance

Shares of NASDAQ EYPT traded up $0.64 during trading on Tuesday, reaching $9.22. The stock had a trading volume of 768,280 shares, compared to its average volume of 936,795. EyePoint Pharmaceuticals has a fifty-two week low of $5.86 and a fifty-two week high of $30.99. The company has a market cap of $629.27 million, a P/E ratio of -4.49 and a beta of 1.50. The business’s 50-day moving average price is $9.74 and its 200-day moving average price is $9.66.

Institutional Trading of EyePoint Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of EYPT. Essex Investment Management Co. LLC increased its holdings in shares of EyePoint Pharmaceuticals by 234.2% in the third quarter. Essex Investment Management Co. LLC now owns 142,144 shares of the company’s stock valued at $1,136,000 after buying an additional 99,606 shares in the last quarter. Deerfield Management Company L.P. Series C raised its position in shares of EyePoint Pharmaceuticals by 51.4% during the second quarter. Deerfield Management Company L.P. Series C now owns 877,790 shares of the company’s stock valued at $7,637,000 after buying an additional 298,196 shares during the last quarter. Cubist Systematic Strategies LLC increased its holdings in shares of EyePoint Pharmaceuticals by 842.5% during the second quarter. Cubist Systematic Strategies LLC now owns 476,250 shares of the company’s stock worth $4,143,000 after buying an additional 425,717 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in shares of EyePoint Pharmaceuticals by 26.5% during the first quarter. Janney Montgomery Scott LLC now owns 18,040 shares of the company’s stock valued at $373,000 after purchasing an additional 3,780 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in EyePoint Pharmaceuticals by 112.5% in the second quarter. Renaissance Technologies LLC now owns 152,800 shares of the company’s stock valued at $1,329,000 after acquiring an additional 80,900 shares during the last quarter. 99.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on EYPT shares. StockNews.com raised shares of EyePoint Pharmaceuticals to a “sell” rating in a research report on Saturday, September 21st. Robert W. Baird dropped their price target on EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. JPMorgan Chase & Co. decreased their price target on shares of EyePoint Pharmaceuticals from $32.00 to $29.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 13th. HC Wainwright dropped their target price on shares of EyePoint Pharmaceuticals from $30.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, November 11th. Finally, Scotiabank assumed coverage on shares of EyePoint Pharmaceuticals in a research report on Wednesday, October 16th. They issued a “sector outperform” rating and a $18.00 price objective on the stock. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $28.00.

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.