JPMorgan Chase & Co. Sells 217,150 Shares of Eyepoint Pharmaceuticals, Inc. $EYPT

Key Points

• JPMorgan Chase cut its stake in Eyepoint by 87.8%, selling 217,150 shares in the third quarter and retaining 30,262 shares valued at about $431,000.
• Wall Street is largely bullish: the consensus rating is Buy with an average price target of $32.20, and several firms recently raised targets (Citigroup to $35, HC Wainwright to $30).
• Fundamentals remain weak — Eyepoint reported a quarterly EPS of ($0.81) that missed estimates, posted negative net margin and ROE, and its shares trade around $14.34 with a $1.2 billion market cap.

JPMorgan Chase & Co. cut its stake in Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Free Report) by 87.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,262 shares of the company's stock after selling 217,150 shares during the quarter. JPMorgan Chase & Co.'s holdings in Eyepoint Pharmaceuticals were worth $431,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in EYPT. State of Alaska Department of Revenue purchased a new position in shares of Eyepoint Pharmaceuticals in the third quarter worth approximately $50,000. Russell Investments Group Ltd. purchased a new position in shares of Eyepoint Pharmaceuticals in the third quarter worth approximately $76,000. Tower Research Capital LLC TRC boosted its holdings in shares of Eyepoint Pharmaceuticals by 218.3% in the second quarter. Tower Research Capital LLC TRC now owns 8,700 shares of the company's stock worth $82,000 after buying an additional 5,967 shares during the last quarter. Bank of Nova Scotia purchased a new position in shares of Eyepoint Pharmaceuticals in the third quarter worth approximately $158,000. Finally, Raymond James Financial Inc. boosted its holdings in shares of Eyepoint Pharmaceuticals by 11.0% in the second quarter. Raymond James Financial Inc. now owns 11,900 shares of the company's stock worth $112,000 after buying an additional 1,177 shares during the last quarter. 99.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. HC Wainwright raised their price objective on shares of Eyepoint Pharmaceuticals from $23.00 to $30.00 and gave the stock a "buy" rating in a report on Thursday, March 5th. TD Cowen raised shares of Eyepoint Pharmaceuticals to a "strong-buy" rating in a report on Friday, December 19th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Eyepoint Pharmaceuticals in a report on Thursday, January 22nd. Chardan Capital lifted their price target on shares of Eyepoint Pharmaceuticals from $27.00 to $29.00 and gave the company a "buy" rating in a report on Wednesday, March 4th. Finally, Citigroup lifted their price target on shares of Eyepoint Pharmaceuticals from $31.00 to $35.00 and gave the company a "buy" rating in a report on Monday, March 9th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $32.20.

Eyepoint Pharmaceuticals Price Performance

Shares of NASDAQ:EYPT opened at $14.34 on Wednesday. The company has a market capitalization of $1.20 billion, a P/E ratio of -4.54 and a beta of 1.89. Eyepoint Pharmaceuticals, Inc. has a 1-year low of $5.30 and a 1-year high of $19.11. The firm's 50 day simple moving average is $14.37 and its two-hundred day simple moving average is $14.54.

Eyepoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last released its quarterly earnings data on Wednesday, March 4th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.78) by ($0.03). The company had revenue of $0.62 million for the quarter, compared to the consensus estimate of $1.01 million. Eyepoint Pharmaceuticals had a negative net margin of 739.39% and a negative return on equity of 88.31%. On average, sell-side analysts anticipate that Eyepoint Pharmaceuticals, Inc. will post -2.13 earnings per share for the current fiscal year.

Eyepoint Pharmaceuticals Company Profile

Eyepoint Pharmaceuticals, Inc is a biopharmaceutical company focused on the development and commercialization of therapies for the treatment of ocular diseases. The company's proprietary platform centers on sustained-release formulations designed to improve drug delivery to the posterior segment of the eye, addressing conditions that often require repeated intravitreal injections or intensive topical regimens. Eyepoint's commercial strategy combines in-house sales and marketing capabilities with targeted partnerships to bring its therapies to ophthalmologists and retina specialists across the United States.

Eyepoint's lead products include YUTIQ, a fluocinolone acetonide intravitreal implant indicated for the prevention of relapse in non-infectious uveitis affecting the posterior segment of the eye, and DEXYCU, a dexamethasone intraocular suspension approved for postoperative inflammation following ocular surgery.

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