EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Stake Lifted by Bank of America Corp DE

Bank of America Corp DE grew its holdings in shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Free Report) by 28.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 648,030 shares of the company's stock after buying an additional 145,065 shares during the quarter. Bank of America Corp DE owned 0.95% of EyePoint Pharmaceuticals worth $4,828,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Summit Investment Advisors Inc. boosted its stake in shares of EyePoint Pharmaceuticals by 39.6% in 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 period. KLP Kapitalforvaltning AS acquired a new stake in EyePoint Pharmaceuticals in the fourth quarter valued at $59,000. Virtus ETF Advisers LLC acquired a new stake in EyePoint Pharmaceuticals in the fourth quarter valued at $67,000. AlphaQuest LLC boosted its holdings in shares of EyePoint Pharmaceuticals by 13,246.6% in the 4th quarter. AlphaQuest LLC now owns 9,743 shares of the company's stock valued at $73,000 after buying an additional 9,670 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in EyePoint Pharmaceuticals during the fourth quarter worth about $76,000. 99.41% of the stock is currently owned by hedge funds and other institutional investors.

EyePoint Pharmaceuticals Stock Performance

Shares of NASDAQ:EYPT traded up $0.18 during trading hours on Monday, hitting $7.42. The stock had a trading volume of 1,180,425 shares, compared to its average volume of 828,452. The stock's fifty day simple moving average is $5.89 and its 200 day simple moving average is $6.92. EyePoint Pharmaceuticals, Inc. has a 1-year low of $3.91 and a 1-year high of $13.99. The firm has a market capitalization of $510.58 million, a price-to-earnings ratio of -3.71 and a beta of 1.58.

EyePoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.65) EPS for the quarter, meeting the consensus estimate of ($0.65). The company 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%. As a group, research analysts anticipate that EyePoint Pharmaceuticals, Inc. will post -2.13 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of EyePoint Pharmaceuticals to a "sell" rating in a research note on Friday, March 14th. HC Wainwright reiterated a "buy" rating and set a $22.00 price objective on shares of EyePoint Pharmaceuticals in a research note on Thursday. Mizuho dropped their price objective on shares of EyePoint Pharmaceuticals from $30.00 to $26.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Finally, Chardan Capital dropped their price objective on shares of EyePoint Pharmaceuticals from $33.00 to $27.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $25.38.

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.