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

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. increased its position in EyePoint Pharmaceuticals by 44.0% during the first quarter. Ameritas Investment Partners Inc. now owns 3,719 shares of the company’s stock worth $77,000 after buying an additional 1,136 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its position in shares of EyePoint Pharmaceuticals by 68.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 10,293 shares of the company’s stock valued at $82,000 after acquiring an additional 4,172 shares during the period. Greenwich Wealth Management LLC increased its position in EyePoint Pharmaceuticals by 8.3% during the third quarter. Greenwich Wealth Management LLC now owns 11,700 shares of the company’s stock worth $93,000 after acquiring an additional 900 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in 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 purchasing an additional 7,953 shares in the last quarter. Finally, Cyndeo Wealth Partners LLC bought a new stake in EyePoint Pharmaceuticals in the 3rd quarter valued at about $100,000. 99.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on EYPT. StockNews.com upgraded EyePoint Pharmaceuticals to a “sell” rating in a research note on Saturday, September 21st. HC Wainwright lowered their price objective on shares of EyePoint Pharmaceuticals from $30.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, November 11th. JPMorgan Chase & Co. lowered their target price on EyePoint Pharmaceuticals from $32.00 to $29.00 and set an “overweight” rating for the company in a research note on Tuesday, August 13th. Scotiabank began coverage on shares of EyePoint Pharmaceuticals in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $18.00 target price on the stock. Finally, Chardan Capital increased their price objective on shares of EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the company a “buy” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $28.00.

EyePoint Pharmaceuticals Price Performance

EYPT stock traded up $0.64 during trading hours on Tuesday, reaching $9.22. 873,456 shares of the stock were exchanged, compared to its average volume of 937,265. The company has a market cap of $629.27 million, a price-to-earnings ratio of -4.49 and a beta of 1.50. The firm’s 50-day moving average is $9.74 and its 200-day moving average is $9.66. EyePoint Pharmaceuticals has a 12 month low of $5.86 and a 12 month high of $30.99.

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.