EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Major Shareholder Acquires $10,489,222.95 in Stock

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Get Free Report) major shareholder Cormorant Asset Management, Lp acquired 581,765 shares of the firm's stock in a transaction on Thursday, April 18th. The stock was bought at an average price of $18.03 per share, with a total value of $10,489,222.95. Following the purchase, the insider now directly owns 7,475,000 shares of the company's stock, valued at $134,774,250. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Major shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

EyePoint Pharmaceuticals Stock Performance

EYPT traded down $0.70 during trading on Monday, hitting $16.95. The stock had a trading volume of 1,386,855 shares, compared to its average volume of 1,000,032. EyePoint Pharmaceuticals, Inc. has a twelve month low of $5.67 and a twelve month high of $30.99. The firm has a market capitalization of $844.62 million, a P/E ratio of -9.26 and a beta of 1.64. The company's 50-day moving average price is $23.43 and its 200 day moving average price is $18.54.

EyePoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last issued its quarterly earnings results on Thursday, March 7th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.60) by $0.27. EyePoint Pharmaceuticals had a negative net margin of 153.84% and a negative return on equity of 61.48%. The business had revenue of $14.03 million for the quarter, compared to analyst estimates of $8.71 million. During the same period in the previous year, the business posted ($0.61) earnings per share. As a group, equities analysts expect that EyePoint Pharmaceuticals, Inc. will post -1.73 earnings per share for the current fiscal year.

Institutional Trading of EyePoint Pharmaceuticals

Institutional investors have recently modified their holdings of the business. Woodstock Corp raised its position in EyePoint Pharmaceuticals by 38.3% in the first quarter. Woodstock Corp now owns 30,778 shares of the company's stock worth $636,000 after acquiring an additional 8,525 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of EyePoint Pharmaceuticals in the fourth quarter valued at about $3,166,000. Sierra Summit Advisors LLC acquired a new stake in shares of EyePoint Pharmaceuticals in the fourth quarter valued at about $523,000. PFM Health Sciences LP acquired a new position in EyePoint Pharmaceuticals during the fourth quarter worth about $3,949,000. Finally, Artia Global Partners LP purchased a new position in EyePoint Pharmaceuticals in the fourth quarter valued at about $1,156,000. 99.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EYPT has been the topic of several research analyst reports. HC Wainwright cut their price target on EyePoint Pharmaceuticals from $35.00 to $33.00 and set a "buy" rating on the stock in a research report on Tuesday, January 16th. Mizuho upped their price target on shares of EyePoint Pharmaceuticals from $30.00 to $39.00 and gave the company a "buy" rating in a research report on Friday, February 16th. JPMorgan Chase & Co. began coverage on shares of EyePoint Pharmaceuticals in a research report on Monday, January 22nd. They set an "overweight" rating and a $35.00 price objective on the stock. Finally, Capital One Financial restated an "overweight" rating on shares of EyePoint Pharmaceuticals in a research note on Friday, February 16th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $34.00.

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.