Ally Bridge Group NY LLC Purchases Shares of 348,000 EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT)

Ally Bridge Group NY LLC acquired a new stake in EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 348,000 shares of the company's stock, valued at approximately $2,593,000. EyePoint Pharmaceuticals comprises about 2.2% of Ally Bridge Group NY LLC's investment portfolio, making the stock its 20th biggest holding. Ally Bridge Group NY LLC owned about 0.51% of EyePoint Pharmaceuticals at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. RA Capital Management L.P. acquired a new position in EyePoint Pharmaceuticals during the 4th quarter valued at about $23,705,000. One68 Global Capital LLC purchased a new stake in shares of EyePoint Pharmaceuticals during the 4th quarter worth about $192,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of EyePoint Pharmaceuticals during the 4th quarter worth about $91,000. TCG Crossover Management LLC boosted its holdings in EyePoint Pharmaceuticals by 287.3% during the fourth quarter. TCG Crossover Management LLC now owns 3,572,335 shares of the company's stock valued at $26,614,000 after acquiring an additional 2,650,000 shares during the period. Finally, Nantahala Capital Management LLC bought a new position in EyePoint Pharmaceuticals during the fourth quarter worth $4,470,000. Institutional investors own 99.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. StockNews.com raised shares of EyePoint Pharmaceuticals to a "sell" rating in a report on Friday, March 14th. HC Wainwright reiterated a "buy" rating and set a $22.00 price target on shares of EyePoint Pharmaceuticals in a research report on Thursday, March 6th. Citigroup assumed coverage on EyePoint Pharmaceuticals in a research note on Tuesday, January 7th. They issued a "buy" rating and a $33.00 target price on the stock. Finally, Chardan Capital reaffirmed a "buy" rating and set a $33.00 price target on shares of EyePoint Pharmaceuticals in a research report on Thursday, March 6th. One analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $26.63.

EyePoint Pharmaceuticals Price Performance

NASDAQ:EYPT traded down $0.08 during mid-day trading on Wednesday, reaching $6.17. The stock had a trading volume of 464,705 shares, compared to its average volume of 840,608. EyePoint Pharmaceuticals, Inc. has a 12 month low of $3.91 and a 12 month high of $13.99. The stock has a market capitalization of $424.77 million, a PE ratio of -3.11 and a beta of 1.58. The stock has a 50-day simple moving average of $6.02 and a two-hundred day simple moving average of $7.59.

EyePoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.65) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.65). The firm had revenue of $24.50 million for the quarter, compared to analyst estimates of $8.84 million. EyePoint Pharmaceuticals had a negative net margin of 226.57% and a negative return on equity of 43.01%. Equities analysts expect that EyePoint Pharmaceuticals, Inc. will post -2.13 EPS for the current year.

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.