Federated Hermes Inc. Buys 378,135 Shares of Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT)

Key Points

• Federated Hermes Inc. increased its stake in Eyepoint Pharmaceuticals by 10.2%, owning approximately 4,085,580 shares valued at $22.14 million.
• Eyepoint Pharmaceuticals reported quarterly earnings of ($0.65) per share, meeting analysts' expectations, and generated revenues of $24.5 million against anticipated revenues of $8.84 million.
• Analyst ratings for Eyepoint Pharmaceuticals show a consensus of "Moderate Buy" with a target price of $25.67, despite some price target reductions from various firms.

Federated Hermes Inc. boosted its stake in shares of Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Free Report) by 10.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,085,580 shares of the company's stock after buying an additional 378,135 shares during the period. Federated Hermes Inc. owned approximately 5.94% of Eyepoint Pharmaceuticals worth $22,144,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Suvretta Capital Management LLC increased its position in Eyepoint Pharmaceuticals by 31.1% during the 4th quarter. Suvretta Capital Management LLC now owns 6,783,091 shares of the company's stock valued at $50,534,000 after buying an additional 1,607,268 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in shares of Eyepoint Pharmaceuticals by 51.7% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 5,750,000 shares of the company's stock worth $42,838,000 after purchasing an additional 1,958,580 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Eyepoint Pharmaceuticals by 3.1% in the 4th quarter. Franklin Resources Inc. now owns 4,137,567 shares of the company's stock worth $30,825,000 after purchasing an additional 125,519 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Eyepoint Pharmaceuticals by 24.8% in the 4th quarter. Vanguard Group Inc. now owns 3,803,227 shares of the company's stock worth $28,334,000 after purchasing an additional 755,045 shares in the last quarter. Finally, TCG Crossover Management LLC increased its holdings in shares of Eyepoint Pharmaceuticals by 287.3% in the 4th quarter. TCG Crossover Management LLC now owns 3,572,335 shares of the company's stock worth $26,614,000 after purchasing an additional 2,650,000 shares in the last quarter. Institutional investors own 99.41% of the company's stock.

Eyepoint Pharmaceuticals Price Performance

Shares of Eyepoint Pharmaceuticals stock traded up $0.54 on Tuesday, reaching $10.60. The company had a trading volume of 642,274 shares, compared to its average volume of 804,565. The firm has a market cap of $729.40 million, a price-to-earnings ratio of -4.41 and a beta of 1.73. The firm's 50-day moving average price is $9.36 and its two-hundred day moving average price is $7.38. Eyepoint Pharmaceuticals, Inc. has a 1 year low of $3.91 and a 1 year high of $13.98.

Eyepoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.65) earnings per share for the quarter, meeting 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 54.27% and a negative net margin of 261.91%. As a group, analysts anticipate that Eyepoint Pharmaceuticals, Inc. will post -2.13 EPS for the current year.

Analyst Ratings Changes

A number of research firms have commented on EYPT. Royal Bank Of Canada began coverage on Eyepoint Pharmaceuticals in a report on Tuesday, June 17th. They issued an "outperform" rating and a $28.00 target price for the company. Mizuho reduced their target price on Eyepoint Pharmaceuticals from $30.00 to $26.00 and set an "outperform" rating for the company in a report on Friday, May 16th. HC Wainwright reissued a "buy" rating and issued a $22.00 target price on shares of Eyepoint Pharmaceuticals in a report on Thursday, May 29th. Finally, Chardan Capital reduced their target price on Eyepoint Pharmaceuticals from $33.00 to $27.00 and set a "buy" rating for the company in a report on Thursday, May 8th. One research analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $25.67.

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.