Eyepoint Pharmaceuticals, Inc. $EYPT Shares Sold by Cormorant Asset Management LP

Cormorant Asset Management LP reduced its holdings in Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) by 0.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,265,000 shares of the company’s stock after selling 60,000 shares during the period. Eyepoint Pharmaceuticals comprises 7.0% of Cormorant Asset Management LP’s holdings, making the stock its 4th biggest position. Cormorant Asset Management LP owned about 9.98% of Eyepoint Pharmaceuticals worth $151,002,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in EYPT. Rhumbline Advisers raised its holdings in shares of Eyepoint Pharmaceuticals by 11.0% during the second quarter. Rhumbline Advisers now owns 96,280 shares of the company’s stock worth $906,000 after purchasing an additional 9,548 shares during the last quarter. American Century Companies Inc. boosted its holdings in Eyepoint Pharmaceuticals by 57.8% in the second quarter. American Century Companies Inc. now owns 67,612 shares of the company’s stock valued at $636,000 after purchasing an additional 24,752 shares during the last quarter. Invesco Ltd. grew its position in Eyepoint Pharmaceuticals by 199.8% during the 2nd quarter. Invesco Ltd. now owns 128,772 shares of the company’s stock worth $1,212,000 after purchasing an additional 85,824 shares during the period. Raymond James Financial Inc. grew its position in Eyepoint Pharmaceuticals by 11.0% during the 2nd quarter. Raymond James Financial Inc. now owns 11,900 shares of the company’s stock worth $112,000 after purchasing an additional 1,177 shares during the period. Finally, Adage Capital Partners GP L.L.C. raised its stake in shares of Eyepoint Pharmaceuticals by 9.7% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 6,800,000 shares of the company’s stock valued at $63,988,000 after buying an additional 600,000 shares during the last quarter. Hedge funds and other institutional investors own 99.41% of the company’s stock.

Eyepoint Pharmaceuticals Stock Up 2.1%

NASDAQ:EYPT opened at $13.15 on Thursday. Eyepoint Pharmaceuticals, Inc. has a 52 week low of $7.94 and a 52 week high of $19.11. The stock has a market capitalization of $1.10 billion, a PE ratio of -3.76 and a beta of 1.72. The stock’s 50-day moving average price is $13.28 and its 200-day moving average price is $14.66.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.99) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.20). The business had revenue of $0.70 million during the quarter, compared to analyst estimates of $0.35 million. Eyepoint Pharmaceuticals had a negative return on equity of 110.54% and a negative net margin of 3,566.63%. Sell-side analysts expect that Eyepoint Pharmaceuticals, Inc. will post -3.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on EYPT. Royal Bank Of Canada lowered their target price on Eyepoint Pharmaceuticals from $39.00 to $37.00 and set an “outperform” rating on the stock in a research note on Thursday, May 7th. Chardan Capital lifted their price target on Eyepoint Pharmaceuticals from $27.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a report on Tuesday, April 21st. HC Wainwright upped their price objective on Eyepoint Pharmaceuticals from $23.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Finally, Citigroup lifted their target price on shares of Eyepoint Pharmaceuticals from $31.00 to $35.00 and gave the company a “buy” rating in a report on Monday, March 9th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Eyepoint Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $31.80.

Insider Activity at Eyepoint Pharmaceuticals

In other news, insider Ramiro Ribeiro sold 2,437 shares of the company’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $15.00, for a total transaction of $36,555.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.13% of the stock is owned by company insiders.

Eyepoint Pharmaceuticals Company Profile

Eyepoint Pharmaceuticals, Inc is a biopharmaceutical company focused on the development and commercialization of therapies for the treatment of ocular diseases. The company’s proprietary platform centers on sustained-release formulations designed to improve drug delivery to the posterior segment of the eye, addressing conditions that often require repeated intravitreal injections or intensive topical regimens. Eyepoint’s commercial strategy combines in-house sales and marketing capabilities with targeted partnerships to bring its therapies to ophthalmologists and retina specialists across the United States.

Eyepoint’s lead products include YUTIQ, a fluocinolone acetonide intravitreal implant indicated for the prevention of relapse in non-infectious uveitis affecting the posterior segment of the eye, and DEXYCU, a dexamethasone intraocular suspension approved for postoperative inflammation following ocular surgery.