Wellington Management Group LLP Has $1.26 Million Holdings in Eyepoint Pharmaceuticals, Inc. $EYPT

Key Points

• Wellington Management Group LLP increased its ownership in Eyepoint Pharmaceuticals by 31.5%, acquiring an additional 55,915 shares, bringing their total to 233,231 shares worth $1.26 million.
• Eyepoint Pharmaceuticals reported a loss of $0.85 per share during the last quarter, falling short of analysts' expectations and generating $5.33 million in revenue against a forecast of $6.82 million.
• The stock has an average target price of $26.86, with several analysts rating it as a "buy," indicating optimism about its potential for growth.

Wellington Management Group LLP lifted its stake in shares of Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Free Report) by 31.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 233,231 shares of the company's stock after acquiring an additional 55,915 shares during the quarter. Wellington Management Group LLP owned about 0.34% of Eyepoint Pharmaceuticals worth $1,264,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in EYPT. Wells Fargo & Company MN lifted its holdings in Eyepoint Pharmaceuticals by 78.4% in the 4th quarter. Wells Fargo & Company MN now owns 34,792 shares of the company's stock worth $259,000 after purchasing an additional 15,290 shares during the last quarter. Invesco Ltd. raised its position in shares of Eyepoint Pharmaceuticals by 16.1% in the fourth quarter. Invesco Ltd. now owns 15,657 shares of the company's stock valued at $117,000 after purchasing an additional 2,177 shares during the period. Raymond James Financial Inc. bought a new position in shares of Eyepoint Pharmaceuticals in the fourth quarter valued at approximately $76,000. MetLife Investment Management LLC lifted its stake in shares of Eyepoint Pharmaceuticals by 38.3% in the fourth quarter. MetLife Investment Management LLC now owns 40,502 shares of the company's stock worth $302,000 after buying an additional 11,217 shares during the last quarter. Finally, Voya Investment Management LLC boosted its holdings in shares of Eyepoint Pharmaceuticals by 342.4% during the 4th quarter. Voya Investment Management LLC now owns 73,914 shares of the company's stock worth $551,000 after buying an additional 57,205 shares during the period. Institutional investors and hedge funds own 99.41% of the company's stock.

Eyepoint Pharmaceuticals Price Performance

Shares of NASDAQ EYPT traded down $0.41 during trading hours on Thursday, reaching $11.60. The stock had a trading volume of 301,270 shares, compared to its average volume of 787,215. Eyepoint Pharmaceuticals, Inc. has a twelve month low of $3.91 and a twelve month high of $13.98. The business's fifty day moving average is $10.60 and its two-hundred day moving average is $7.96. The company has a market cap of $799.24 million, a price-to-earnings ratio of -4.34 and a beta of 1.93.

Eyepoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.18). Eyepoint Pharmaceuticals had a negative net margin of 337.93% and a negative return on equity of 63.80%. The business had revenue of $5.33 million during the quarter, compared to the consensus estimate of $6.82 million. Sell-side analysts forecast that Eyepoint Pharmaceuticals, Inc. will post -2.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. HC Wainwright lifted their target price on shares of Eyepoint Pharmaceuticals from $22.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Mizuho lowered their price target on Eyepoint Pharmaceuticals from $30.00 to $26.00 and set an "outperform" rating on the stock in a research report on Friday, May 16th. Royal Bank Of Canada started coverage on Eyepoint Pharmaceuticals in a research report on Tuesday, June 17th. They set an "outperform" rating and a $28.00 price objective for the company. Finally, Chardan Capital restated a "buy" rating and set a $27.00 target price on shares of Eyepoint Pharmaceuticals in a research note on Thursday, August 7th. Seven investment analysts have rated the stock with a Buy rating, According to MarketBeat, Eyepoint Pharmaceuticals currently has an average rating of "Buy" and a consensus target price of $26.86.

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.