Essex Investment Management Co. LLC Has $934,000 Position in EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT)

Essex Investment Management Co. LLC lessened its stake in shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) by 11.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 125,417 shares of the company’s stock after selling 16,727 shares during the quarter. Essex Investment Management Co. LLC’s holdings in EyePoint Pharmaceuticals were worth $934,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of EYPT. Franklin Resources Inc. lifted its position in EyePoint Pharmaceuticals by 9.9% during the third quarter. Franklin Resources Inc. now owns 4,012,048 shares of the company’s stock worth $32,056,000 after acquiring an additional 362,399 shares during the last quarter. Patient Square Capital LP bought a new position in shares of EyePoint Pharmaceuticals during the third quarter worth approximately $10,882,000. Geode Capital Management LLC increased its stake in shares of EyePoint Pharmaceuticals by 16.1% during the third quarter. Geode Capital Management LLC now owns 1,199,056 shares of the company’s stock worth $9,583,000 after purchasing an additional 166,699 shares during the period. JPMorgan Chase & Co. lifted its holdings 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 purchasing an additional 342,516 shares during the last quarter. Finally, Barclays PLC boosted its stake in EyePoint Pharmaceuticals by 410.4% in the 3rd quarter. Barclays PLC now owns 245,045 shares of the company’s stock valued at $1,959,000 after purchasing an additional 197,033 shares during the period. Institutional investors own 99.41% of the company’s stock.

EyePoint Pharmaceuticals Price Performance

Shares of EYPT opened at $7.13 on Monday. The firm has a 50 day simple moving average of $7.25 and a two-hundred day simple moving average of $8.45. EyePoint Pharmaceuticals, Inc. has a one year low of $5.54 and a one year high of $26.06. The company has a market cap of $486.63 million, a P/E ratio of -3.57 and a beta of 1.41.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last posted its quarterly earnings results on Wednesday, March 5th. The company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.10). The business had revenue of $11.60 million for the quarter, compared to analyst estimates of $11.02 million. EyePoint Pharmaceuticals had a negative return on equity of 43.01% and a negative net margin of 226.57%. On average, analysts expect that EyePoint Pharmaceuticals, Inc. will post -2.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

EYPT has been the subject of a number of research reports. Robert W. Baird dropped their target price on EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating for the company in a report on Monday, November 11th. HC Wainwright reiterated a “buy” rating and issued a $22.00 price objective on shares of EyePoint Pharmaceuticals in a research note on Thursday. Chardan Capital restated a “buy” rating and set a $33.00 target price on shares of EyePoint Pharmaceuticals in a research report on Thursday. Finally, Citigroup started coverage on shares of EyePoint Pharmaceuticals in a research report on Tuesday, January 7th. They issued a “buy” rating and a $33.00 price target for the company. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the company’s stock. According to MarketBeat, EyePoint Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $26.63.

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.