Adage Capital Partners GP L.L.C. Purchases 1,958,580 Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT)

Adage Capital Partners GP L.L.C. raised its stake in EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Free Report) by 51.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 5,750,000 shares of the company's stock after purchasing an additional 1,958,580 shares during the period. Adage Capital Partners GP L.L.C. owned 8.42% of EyePoint Pharmaceuticals worth $42,838,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Summit Investment Advisors Inc. grew its holdings in shares of EyePoint Pharmaceuticals by 39.6% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,838 shares of the company's stock valued at $51,000 after purchasing an additional 1,940 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in EyePoint Pharmaceuticals in the fourth quarter valued at $59,000. AlphaQuest LLC boosted its holdings in shares of EyePoint Pharmaceuticals by 13,246.6% during the fourth quarter. AlphaQuest LLC now owns 9,743 shares of the company's stock valued at $73,000 after acquiring an additional 9,670 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of EyePoint Pharmaceuticals in the 4th quarter worth about $76,000. Finally, China Universal Asset Management Co. Ltd. lifted its position in EyePoint Pharmaceuticals by 40.6% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 14,472 shares of the company's stock valued at $108,000 after purchasing an additional 4,179 shares during the last quarter. Institutional investors and hedge funds own 99.41% of the company's stock.

EyePoint Pharmaceuticals Trading Up 1.1 %

NASDAQ EYPT traded up $0.07 during trading on Wednesday, hitting $6.71. 125,004 shares of the company traded hands, compared to its average volume of 884,254. EyePoint Pharmaceuticals, Inc. has a 12 month low of $3.91 and a 12 month high of $21.26. The business has a fifty day simple moving average of $5.94 and a 200 day simple moving average of $7.73. The company has a market capitalization of $461.17 million, a P/E ratio of -3.36 and a beta of 1.39.

EyePoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last posted 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 return on equity of 43.01% and a negative net margin of 226.57%. The company had revenue of $11.60 million during the quarter, compared to analyst estimates of $11.02 million. Equities research analysts predict that EyePoint Pharmaceuticals, Inc. will post -2.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on EYPT shares. Chardan Capital reaffirmed a "buy" rating and issued a $33.00 price target on shares of EyePoint Pharmaceuticals in a research note on Thursday, March 6th. StockNews.com raised shares of EyePoint Pharmaceuticals to a "sell" rating in a research note on Friday, March 14th. Citigroup began coverage on EyePoint Pharmaceuticals in a report on Tuesday, January 7th. They issued a "buy" rating and a $33.00 target price on the stock. Finally, HC Wainwright reiterated a "buy" rating and set a $22.00 price objective on shares of EyePoint Pharmaceuticals in a report on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average 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.