Renaissance Technologies LLC Reduces Position in EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT)

Renaissance Technologies LLC reduced its holdings in shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Free Report) by 26.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 137,500 shares of the company's stock after selling 49,937 shares during the period. Renaissance Technologies LLC owned 0.20% of EyePoint Pharmaceuticals worth $1,024,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Legal & General Group Plc increased its holdings in EyePoint Pharmaceuticals by 4.4% in the fourth quarter. Legal & General Group Plc now owns 46,263 shares of the company's stock worth $345,000 after purchasing an additional 1,932 shares in the last quarter. Invesco Ltd. increased its stake in shares of EyePoint Pharmaceuticals by 16.1% in the 4th quarter. Invesco Ltd. now owns 15,657 shares of the company's stock valued at $117,000 after acquiring an additional 2,177 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of EyePoint Pharmaceuticals by 92.7% during the 4th quarter. Federated Hermes Inc. now owns 3,707,445 shares of the company's stock valued at $27,620,000 after acquiring an additional 1,783,765 shares during the period. Finepoint Capital LP boosted its stake in EyePoint Pharmaceuticals by 57.1% during the fourth quarter. Finepoint Capital LP now owns 1,111,104 shares of the company's stock worth $8,278,000 after acquiring an additional 403,700 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd grew its holdings in EyePoint Pharmaceuticals by 167.1% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 32,178 shares of the company's stock worth $240,000 after purchasing an additional 20,129 shares during the period. 99.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on EYPT. Citigroup started coverage on shares of EyePoint Pharmaceuticals in a report on Tuesday, January 7th. They set a "buy" rating and a $33.00 price objective for the company. Chardan Capital reissued a "buy" rating and issued a $33.00 price objective on shares of EyePoint Pharmaceuticals in a research note on Thursday, March 6th. HC Wainwright reaffirmed a "buy" rating and set a $22.00 target price on shares of EyePoint Pharmaceuticals in a research report on Thursday, March 6th. Finally, StockNews.com raised EyePoint Pharmaceuticals to a "sell" rating in a research report on Friday, March 14th. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $26.63.

EyePoint Pharmaceuticals Price Performance

Shares of NASDAQ EYPT traded down $0.62 during mid-day trading on Tuesday, reaching $6.24. 696,748 shares of the company's stock were exchanged, compared to its average volume of 842,060. The firm has a 50-day moving average price of $6.02 and a two-hundred day moving average price of $7.59. The firm has a market capitalization of $429.38 million, a price-to-earnings ratio of -3.12 and a beta of 1.58. EyePoint Pharmaceuticals, Inc. has a 52 week low of $3.91 and a 52 week high of $13.99.

EyePoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last released its earnings results on Wednesday, March 5th. The company reported ($0.64) earnings per share for the quarter, missing analysts' consensus estimates of ($0.54) by ($0.10). EyePoint Pharmaceuticals had a negative net margin of 226.57% and a negative return on equity of 43.01%. The company had revenue of $11.60 million during the quarter, compared to analysts' expectations of $11.02 million. As a group, sell-side analysts forecast that EyePoint Pharmaceuticals, Inc. will post -2.13 EPS for the current fiscal year.

EyePoint Pharmaceuticals 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.