Ally Bridge Group NY LLC Acquires New Shares in EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT)

Ally Bridge Group NY LLC acquired a new stake in shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 348,000 shares of the company's stock, valued at approximately $2,593,000. EyePoint Pharmaceuticals accounts for approximately 2.2% of Ally Bridge Group NY LLC's holdings, making the stock its 20th largest holding. Ally Bridge Group NY LLC owned 0.51% of EyePoint Pharmaceuticals as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Geode Capital Management LLC grew its position in EyePoint Pharmaceuticals by 16.1% during the third quarter. Geode Capital Management LLC now owns 1,199,056 shares of the company's stock valued at $9,583,000 after acquiring an additional 166,699 shares during the period. Barclays PLC grew its holdings in shares of EyePoint Pharmaceuticals by 410.4% during the 3rd quarter. Barclays PLC now owns 245,045 shares of the company's stock worth $1,959,000 after purchasing an additional 197,033 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of 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 period. Franklin Resources Inc. increased its position in EyePoint Pharmaceuticals by 9.9% during the 3rd 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. Finally, abrdn plc purchased a new position in EyePoint Pharmaceuticals in the fourth quarter valued at approximately $1,719,000. 99.41% of the stock is currently owned by institutional investors and hedge funds.

EyePoint Pharmaceuticals Price Performance

EYPT traded up $0.17 on Friday, reaching $7.30. The company's stock had a trading volume of 690,968 shares, compared to its average volume of 879,558. EyePoint Pharmaceuticals, Inc. has a 1 year low of $3.91 and a 1 year high of $14.00. The business's 50 day moving average is $6.00 and its 200 day moving average is $7.63. The stock has a market cap of $502.32 million, a price-to-earnings ratio of -3.65 and a beta of 1.39.

EyePoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last issued its quarterly earnings results on Wednesday, March 5th. The company reported ($0.64) EPS 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 for the quarter, compared to the consensus estimate of $11.02 million. As a group, research analysts forecast that EyePoint Pharmaceuticals, Inc. will post -2.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

EYPT has been the topic of a number of research reports. StockNews.com raised shares of EyePoint Pharmaceuticals to a "sell" rating in a research note on Friday, March 14th. Chardan Capital reissued a "buy" rating and issued a $33.00 price objective on shares of EyePoint Pharmaceuticals in a research report on Thursday, March 6th. HC Wainwright restated a "buy" rating and set a $22.00 price objective on shares of EyePoint Pharmaceuticals in a research note on Thursday, March 6th. Finally, Citigroup began coverage on EyePoint Pharmaceuticals in a research note on Tuesday, January 7th. They issued a "buy" rating and a $33.00 target price for the company. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus 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.