T. Rowe Price Investment Management Inc. Sells 1,061,815 Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT)

T. Rowe Price Investment Management Inc. trimmed its holdings in EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) by 83.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 206,939 shares of the company’s stock after selling 1,061,815 shares during the quarter. T. Rowe Price Investment Management Inc. owned 0.30% of EyePoint Pharmaceuticals worth $1,542,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in EYPT. Federated Hermes Inc. raised its position in EyePoint Pharmaceuticals by 92.7% in the 4th quarter. Federated Hermes Inc. now owns 3,707,445 shares of the company’s stock worth $27,620,000 after purchasing an additional 1,783,765 shares during the period. Vanguard Group Inc. increased its holdings in shares of EyePoint Pharmaceuticals by 24.8% in the fourth quarter. Vanguard Group Inc. now owns 3,803,227 shares of the company’s stock worth $28,334,000 after buying an additional 755,045 shares during the period. Finepoint Capital LP lifted its stake in shares of EyePoint Pharmaceuticals by 57.1% in the 4th quarter. Finepoint Capital LP now owns 1,111,104 shares of the company’s stock valued at $8,278,000 after acquiring an additional 403,700 shares during the last quarter. Franklin Resources Inc. boosted its holdings in EyePoint Pharmaceuticals by 9.9% during the 3rd quarter. Franklin Resources Inc. now owns 4,012,048 shares of the company’s stock valued at $32,056,000 after acquiring an additional 362,399 shares during the period. Finally, JPMorgan Chase & Co. grew its position in EyePoint Pharmaceuticals by 1,171.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 371,758 shares of the company’s stock worth $2,970,000 after acquiring an additional 342,516 shares during the last quarter. Hedge funds and other institutional investors own 99.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on EYPT. Citigroup initiated coverage on EyePoint Pharmaceuticals in a research note on Tuesday, January 7th. They set a “buy” rating and a $33.00 price objective for the company. HC Wainwright reissued a “buy” rating and set a $22.00 price target on shares of EyePoint Pharmaceuticals in a research report on Thursday, March 6th. Chardan Capital restated a “buy” rating and issued a $33.00 price objective on shares of EyePoint Pharmaceuticals in a research report on Thursday, March 6th. Finally, StockNews.com upgraded shares of EyePoint Pharmaceuticals to a “sell” rating in a report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $26.63.

EyePoint Pharmaceuticals Price Performance

Shares of NASDAQ EYPT opened at $6.37 on Monday. EyePoint Pharmaceuticals, Inc. has a 1 year low of $3.91 and a 1 year high of $21.26. The company’s 50-day moving average is $5.93 and its 200 day moving average is $7.75. The stock has a market capitalization of $437.80 million, a P/E ratio of -3.19 and a beta of 1.39.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last announced its earnings results on Wednesday, March 5th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.54) by ($0.10). EyePoint Pharmaceuticals had a negative return on equity of 43.01% and a negative net margin of 226.57%. The firm had revenue of $11.60 million during the quarter, compared to the consensus estimate of $11.02 million. Research analysts anticipate that EyePoint Pharmaceuticals, Inc. will post -2.13 earnings per share for the current year.

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.