Erste Asset Management GmbH Makes New $360,000 Investment in EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT)

Erste Asset Management GmbH acquired a new position in shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) in the 4th quarter, HoldingsChannel reports. The fund acquired 50,000 shares of the company’s stock, valued at approximately $360,000.

Several other institutional investors also recently bought and sold shares of EYPT. Patient Square Capital LP purchased a new stake in EyePoint Pharmaceuticals during the third quarter worth approximately $10,882,000. Franklin Resources Inc. lifted its position in shares of 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 purchasing an additional 362,399 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of EyePoint Pharmaceuticals by 1,171.3% during the third 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 in the last quarter. abrdn plc acquired a new position in shares of EyePoint Pharmaceuticals during the fourth quarter worth $1,719,000. Finally, Barclays PLC lifted its position in shares of EyePoint Pharmaceuticals by 410.4% during the third quarter. Barclays PLC now owns 245,045 shares of the company’s stock worth $1,959,000 after purchasing an additional 197,033 shares in the last quarter. 99.41% of the stock is currently owned by hedge funds and other institutional investors.

EyePoint Pharmaceuticals Price Performance

EYPT stock opened at $6.52 on Friday. EyePoint Pharmaceuticals, Inc. has a 1-year low of $5.54 and a 1-year high of $23.97. The firm has a fifty day moving average price of $7.19 and a two-hundred day moving average price of $8.39. The firm has a market cap of $448.11 million, a price-to-earnings ratio of -3.26 and a beta of 1.41.

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

Analysts Set New Price Targets

A number of research analysts have recently commented on EYPT shares. StockNews.com raised shares of EyePoint Pharmaceuticals to a “sell” rating in a research report on Friday. Citigroup initiated coverage on shares of EyePoint Pharmaceuticals in a research report on Tuesday, January 7th. They set a “buy” rating and a $33.00 target price on the stock. Chardan Capital reaffirmed a “buy” rating and issued a $33.00 price target on shares of EyePoint Pharmaceuticals in a report on Thursday, March 6th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $22.00 price target on shares of EyePoint Pharmaceuticals in a report on Thursday, March 6th. One analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, EyePoint Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $26.63.

About EyePoint Pharmaceuticals

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.