Jennison Associates LLC Invests $24.64 Million in EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT)

Jennison Associates LLC bought a new position in shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,066,240 shares of the company's stock, valued at approximately $24,641,000. Jennison Associates LLC owned about 2.27% of EyePoint Pharmaceuticals at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of EYPT. Bank of New York Mellon Corp lifted its position in shares of EyePoint Pharmaceuticals by 11.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 115,690 shares of the company's stock worth $924,000 after buying an additional 12,309 shares during the last quarter. Strs Ohio acquired a new stake in shares of EyePoint Pharmaceuticals in the 3rd quarter valued at approximately $196,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of EyePoint Pharmaceuticals during the 3rd quarter valued at approximately $117,000. TD Asset Management Inc acquired a new position in EyePoint Pharmaceuticals during the 3rd quarter worth approximately $574,000. Finally, Jump Financial LLC grew its stake in shares of EyePoint Pharmaceuticals by 318.5% during the third quarter. Jump Financial LLC now owns 48,968 shares of the company's stock worth $391,000 after buying an additional 37,268 shares during the last quarter. Institutional investors own 99.41% of the company's stock.

Insiders Place Their Bets

In other EyePoint Pharmaceuticals news, major shareholder Cormorant Asset Management, Lp bought 581,765 shares of the firm's stock in a transaction that occurred on Thursday, April 18th. The stock was acquired at an average price of $18.03 per share, with a total value of $10,489,222.95. Following the completion of the purchase, the insider now directly owns 7,475,000 shares of the company's stock, valued at approximately $134,774,250. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Dario A. Paggiarino sold 49,325 shares of the firm's stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $25.66, for a total value of $1,265,679.50. Following the transaction, the insider now owns 36,505 shares of the company's stock, valued at approximately $936,718.30. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Cormorant Asset Management, Lp purchased 581,765 shares of the business's stock in a transaction on Thursday, April 18th. The shares were 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 in the company, valued at approximately $134,774,250. The disclosure for this purchase can be found here. Company insiders own 13.05% of the company's stock.

EyePoint Pharmaceuticals Trading Down 1.9 %

EYPT stock traded down $0.31 during trading on Thursday, hitting $16.16. The company had a trading volume of 749,236 shares, compared to its average volume of 998,420. The stock has a market cap of $805.25 million, a PE ratio of -8.83 and a beta of 1.64. The business has a 50-day moving average of $22.94 and a 200-day moving average of $18.59. EyePoint Pharmaceuticals, Inc. has a one year low of $5.67 and a one year high of $30.99.

EyePoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last posted its quarterly earnings data on Thursday, March 7th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.60) by $0.27. The company had revenue of $14.03 million during the quarter, compared to analysts' expectations of $8.71 million. EyePoint Pharmaceuticals had a negative net margin of 153.84% and a negative return on equity of 61.48%. During the same period in the prior year, the company posted ($0.61) earnings per share. Research analysts forecast that EyePoint Pharmaceuticals, Inc. will post -1.73 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Capital One Financial reaffirmed an "overweight" rating on shares of EyePoint Pharmaceuticals in a report on Friday, February 16th. HC Wainwright lowered their price objective on EyePoint Pharmaceuticals from $35.00 to $33.00 and set a "buy" rating for the company in a research note on Tuesday, January 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 target price on the stock. Finally, Mizuho boosted their target price on shares of EyePoint Pharmaceuticals from $30.00 to $39.00 and gave the stock a "buy" rating in a report on Friday, February 16th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, EyePoint Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus 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.