EyePoint Pharmaceuticals (EYPT) saw its stock price plummet by 13.78% during intraday trading on Thursday, marking a significant decline for the biopharmaceutical company.

The sharp drop followed the disclosure that the company's Chief Medical Officer, Ramiro Ribeiro, disposed of common shares. Insider transactions, particularly sales by high-level executives, are often closely watched by investors as potential signals about a company's future prospects.

While the filing did not specify the reasons behind the transaction, such moves can sometimes lead to negative market sentiment, contributing to selling pressure on the stock.