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 $147,045 were sold by GUYER DAVID R on May 14 ’24. At $12.65 per share, GUYER DAVID R sold 11,625 shares. The insider’s holdings dropped to 5,550 shares worth approximately $61660.5 following the completion of this transaction.
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Also, Cormorant Asset Management, LP purchased 850,000 shares, netting a total of over 10,081,721 in proceeds. Following the buying of shares at $11.86 each, the insider now holds 8,325,000 shares.
Before that, Cormorant Asset Management, LP had added 581,765 shares to its account. In a trade valued at $10,489,446, the 10% Owner bought EyePoint Pharmaceuticals Inc shares for $18.03 each. Upon closing the transaction, the insider’s holdings increased to 581,765 shares, worth approximately $83.05 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 -11.26%. Over the course of the year, EyePoint Pharmaceuticals Inc shares have dropped approximately -51.93%. Shares of the company reached a 52-week high of $30.99 on 02/08/24 and a 52-week low of $10.65 on 05/07/24. A 50-day SMA is recorded $17.88, while a 200-day SMA reached $16.39. Nevertheless, trading volume fell to 0.72 million shares from 0.89 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 10.91, which, if violated, would cause prices to drop to 10.72. In the upper region, resistance lies at 11.40. The next price resistance is at 11.70. RSI (Relative Strength Index) is 32.01 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.59, which suggests the price will decrease in the coming days. Percent R is at 86.27%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
