Balyasny Asset Management L.P. Raises Stock Position in EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT)

Balyasny Asset Management L.P. raised its stake in EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Free Report) by 233.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 223,641 shares of the company's stock after buying an additional 156,568 shares during the period. Balyasny Asset Management L.P. owned approximately 0.33% of EyePoint Pharmaceuticals worth $1,666,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Barclays PLC grew its position in shares of EyePoint Pharmaceuticals by 410.4% in the third 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 last quarter. JPMorgan Chase & Co. boosted its position in 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 acquiring an additional 342,516 shares during the last quarter. abrdn plc acquired a new stake in EyePoint Pharmaceuticals during the fourth quarter worth approximately $1,719,000. Rhumbline Advisers boosted its position in EyePoint Pharmaceuticals by 16.1% during the fourth quarter. Rhumbline Advisers now owns 89,560 shares of the company's stock worth $667,000 after acquiring an additional 12,443 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in EyePoint Pharmaceuticals during the fourth quarter worth approximately $76,000. 99.41% of the stock is currently owned by institutional investors and hedge funds.

EyePoint Pharmaceuticals Stock Performance

NASDAQ EYPT opened at $5.85 on Tuesday. EyePoint Pharmaceuticals, Inc. has a one year low of $3.91 and a one year high of $13.99. The company has a 50-day simple moving average of $6.01 and a 200-day simple moving average of $7.46. The firm has a market capitalization of $402.54 million, a PE ratio of -2.93 and a beta of 1.58.

EyePoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.65) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.65). The firm had revenue of $24.50 million during 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 forecast that EyePoint Pharmaceuticals, Inc. will post -2.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on EYPT. Chardan Capital decreased their target price on shares of EyePoint Pharmaceuticals from $33.00 to $27.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. HC Wainwright reissued a "buy" rating and issued a $22.00 target price on shares of EyePoint Pharmaceuticals in a research note on Thursday, March 6th. Finally, StockNews.com raised shares of EyePoint Pharmaceuticals to a "sell" rating in a research note on Friday, March 14th. One analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $25.29.

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.

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