Principia Wealth Advisory LLC Has $2.89 Million Stock Holdings in EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT)

Principia Wealth Advisory LLC boosted its stake in shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Free Report) by 97.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 533,778 shares of the company's stock after acquiring an additional 263,396 shares during the period. EyePoint Pharmaceuticals accounts for about 2.7% of Principia Wealth Advisory LLC's portfolio, making the stock its 14th biggest position. Principia Wealth Advisory LLC owned about 0.78% of EyePoint Pharmaceuticals worth $2,893,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in EYPT. Barclays PLC increased its stake in shares of EyePoint Pharmaceuticals by 410.4% in the 3rd 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. Bank of America Corp DE increased its stake in shares of EyePoint Pharmaceuticals by 28.8% in the 4th quarter. Bank of America Corp DE now owns 648,030 shares of the company's stock valued at $4,828,000 after purchasing an additional 145,065 shares during the last quarter. abrdn plc bought a new position in shares of EyePoint Pharmaceuticals in the 4th quarter valued at $1,719,000. Raymond James Financial Inc. bought a new position in shares of EyePoint Pharmaceuticals in the 4th quarter valued at $76,000. Finally, Rhumbline Advisers increased its stake in shares of EyePoint Pharmaceuticals by 16.1% in the 4th quarter. Rhumbline Advisers now owns 89,560 shares of the company's stock valued at $667,000 after purchasing an additional 12,443 shares during the last quarter. Institutional investors own 99.41% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Wall Street Zen upgraded EyePoint Pharmaceuticals to a "sell" rating in a research note on Friday, March 14th. Mizuho cut their price objective on EyePoint Pharmaceuticals from $30.00 to $26.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. HC Wainwright reissued a "buy" rating and set a $22.00 price objective on shares of EyePoint Pharmaceuticals in a report on Thursday, May 29th. Finally, Chardan Capital cut their price objective on EyePoint Pharmaceuticals from $33.00 to $27.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $25.38.

EyePoint Pharmaceuticals Stock Up 3.1%

EYPT traded up $0.28 during midday trading on Tuesday, hitting $9.21. 891,944 shares of the company were exchanged, compared to its average volume of 816,446. The firm has a market capitalization of $633.75 million, a P/E ratio of -4.61 and a beta of 1.61. EyePoint Pharmaceuticals, Inc. has a 1-year low of $3.91 and a 1-year high of $13.99. The firm's 50 day moving average price is $6.27 and its 200-day moving average price is $6.92.

EyePoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.65) EPS for the quarter, hitting the consensus estimate of ($0.65). The firm had revenue of $24.50 million for the quarter, compared to the consensus estimate of $8.84 million. EyePoint Pharmaceuticals had a negative return on equity of 43.01% and a negative net margin of 226.57%. On average, sell-side analysts predict that EyePoint Pharmaceuticals, Inc. will post -2.13 earnings per share for the current fiscal year.

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.