The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. EyePoint Pharmaceuticals Inc shares valued at $10,489,446 were purchased by Cormorant Asset Management, LP on Apr 18 ’24. At $18.03 per share, Cormorant Asset Management, LP acquired 581,765 shares. The insider’s holdings grew to 7,475,000 shares worth approximately $120.8 million following the completion of this transaction.
Also, Jones David Scott sold 209 shares, netting a total of over 5,954 in proceeds. Following the sale of shares at $28.49 each, the insider now holds 37,962 shares.
Before that, Paggiarino Dario A. had sold 49,325 shares from its account. In a trade valued at $1,265,539, the Chief Medical Officer traded EyePoint Pharmaceuticals Inc shares for $25.66 each. Upon closing the transaction, the insider’s holdings decreased to 49,325 shares, worth approximately $0.59 million.
As published in their initiating research note from JP Morgan on January 22, 2024, EyePoint Pharmaceuticals Inc [EYPT] has been an Overweight and the price target has been revised to $35. Analysts at Mizuho started covering the stock with ‘”a Buy”‘ outlook in a report released in early November. As of April 21, 2023, Robert W. Baird has initiated its “an Outperform” rating for EYPT. Earlier on July 07, 2022, Chardan Capital Markets initiated its rating. Their recommendation was “a Buy” for EYPT stock.
Analyzing EYPT Stock Performance
During the last five days, there has been a drop of approximately -7.66%. Over the course of the year, EyePoint Pharmaceuticals Inc shares have dropped approximately -30.07%. Shares of the company reached a 52-week high of $30.99 on 02/08/24 and a 52-week low of $15.51 on 04/25/24. A 50-day SMA is recorded $22.86, while a 200-day SMA reached $16.15. Nevertheless, trading volume fell to 0.75 million shares from 0.94 million shares the previous day.
Support And Resistance Levels for EyePoint Pharmaceuticals Inc (EYPT)
According to the 24-hour chart, there is a support level at 15.69, which, if violated, would cause prices to drop to 15.23. In the upper region, resistance lies at 16.44. The next price resistance is at 16.73. RSI (Relative Strength Index) is 28.98 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.96, which suggests the price will decrease in the coming days. Percent R is at 92.01%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
