EyePoint Pharmaceuticals (NASDAQ:EYPT) Sets New 52-Week Low - Here's Why

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Get Free Report)'s stock price hit a new 52-week low during trading on Monday . The stock traded as low as $7.21 and last traded at $7.48, with a volume of 44503 shares changing hands. The stock had previously closed at $7.46.

Analysts Set New Price Targets

Several analysts have recently commented on EYPT shares. Chardan Capital increased their target price on EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Scotiabank began coverage on EyePoint Pharmaceuticals in a report on Wednesday, October 16th. They set a "sector outperform" rating and a $18.00 price objective on the stock. StockNews.com raised EyePoint Pharmaceuticals to a "sell" rating in a research note on Saturday, September 21st. Robert W. Baird decreased their price target on EyePoint Pharmaceuticals from $38.00 to $33.00 and set an "outperform" rating on the stock in a report on Monday, November 11th. Finally, HC Wainwright restated a "buy" rating and set a $22.00 target price on shares of EyePoint Pharmaceuticals in a research report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $25.71.

EyePoint Pharmaceuticals Trading Up 2.0 %

The stock has a market cap of $519.39 million, a P/E ratio of -3.81 and a beta of 1.45. The firm has a 50-day simple moving average of $9.79 and a two-hundred day simple moving average of $9.16.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. lifted its stake in EyePoint Pharmaceuticals by 68.2% during the third quarter. China Universal Asset Management Co. Ltd. now owns 10,293 shares of the company's stock worth $82,000 after purchasing an additional 4,172 shares during the last quarter. Greenwich Wealth Management LLC acquired a new position in shares of EyePoint Pharmaceuticals during the 2nd quarter worth $94,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of EyePoint Pharmaceuticals by 271.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,888 shares of the company's stock worth $95,000 after buying an additional 7,953 shares during the last quarter. Cyndeo Wealth Partners LLC acquired a new stake in EyePoint Pharmaceuticals in the third quarter valued at about $100,000. Finally, Arizona State Retirement System grew its position in EyePoint Pharmaceuticals by 9.7% in the second quarter. Arizona State Retirement System now owns 13,251 shares of the company's stock valued at $115,000 after acquiring an additional 1,171 shares during the last quarter. Institutional investors own 99.41% of the company's stock.

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.