EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Sees Large Increase in Short Interest

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) was the target of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 10,340,000 shares, a growth of 9.9% from the December 15th total of 9,410,000 shares. Based on an average daily volume of 956,300 shares, the short-interest ratio is presently 10.8 days.

EyePoint Pharmaceuticals Stock Up 2.9 %

EyePoint Pharmaceuticals stock traded up $0.21 during trading hours on Monday, hitting $7.48. 564,887 shares of the company traded hands, compared to its average volume of 778,205. EyePoint Pharmaceuticals has a 1-year low of $6.90 and a 1-year high of $30.99. The firm has a market cap of $510.51 million, a P/E ratio of -3.74 and a beta of 1.49. The firm’s 50-day simple moving average is $8.40 and its two-hundred day simple moving average is $8.96.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Franklin Resources Inc. boosted its stake in EyePoint Pharmaceuticals by 9.9% during the 3rd quarter. Franklin Resources Inc. now owns 4,012,048 shares of the company’s stock valued at $32,056,000 after purchasing an additional 362,399 shares in the last quarter. Patient Square Capital LP bought a new position in EyePoint Pharmaceuticals during the third quarter valued at about $10,882,000. Geode Capital Management LLC grew its holdings in EyePoint Pharmaceuticals by 16.1% during the third quarter. Geode Capital Management LLC now owns 1,199,056 shares of the company’s stock worth $9,583,000 after acquiring an additional 166,699 shares during the period. Deerfield Management Company L.P. Series C raised its position in EyePoint Pharmaceuticals by 51.4% in the second quarter. Deerfield Management Company L.P. Series C now owns 877,790 shares of the company’s stock worth $7,637,000 after acquiring an additional 298,196 shares in the last quarter. Finally, Fiera Capital Corp raised its holdings 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 purchasing an additional 5,920 shares in the last quarter. Institutional investors and hedge funds own 99.41% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on EYPT shares. Scotiabank assumed coverage on EyePoint Pharmaceuticals in a research note on Wednesday, October 16th. They set a “sector outperform” rating and a $18.00 price objective on the stock. HC Wainwright restated a “buy” rating and issued a $22.00 price target on shares of EyePoint Pharmaceuticals in a research report on Thursday, December 5th. Chardan Capital boosted their price objective on shares of EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Citigroup began coverage on shares of EyePoint Pharmaceuticals in a report on Tuesday, January 7th. They issued a “buy” rating and a $33.00 target price on the stock. Finally, Robert W. Baird decreased their target price on EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $26.63.

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.