TCG Crossover Management LLC Increases Stake in EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT)

TCG Crossover Management LLC lifted its position in EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Free Report) by 287.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,572,335 shares of the company's stock after buying an additional 2,650,000 shares during the quarter. EyePoint Pharmaceuticals makes up 2.6% of TCG Crossover Management LLC's investment portfolio, making the stock its 17th largest holding. TCG Crossover Management LLC owned approximately 5.23% of EyePoint Pharmaceuticals worth $26,614,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Barclays PLC lifted its holdings in EyePoint Pharmaceuticals by 410.4% during the 3rd quarter. Barclays PLC now owns 245,045 shares of the company's stock worth $1,959,000 after buying an additional 197,033 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of EyePoint Pharmaceuticals by 16.1% in the third quarter. Geode Capital Management LLC now owns 1,199,056 shares of the company's stock valued at $9,583,000 after acquiring an additional 166,699 shares in the last quarter. Franklin Resources Inc. boosted its holdings in EyePoint Pharmaceuticals by 9.9% in the third quarter. Franklin Resources Inc. now owns 4,012,048 shares of the company's stock valued at $32,056,000 after purchasing an additional 362,399 shares during the period. JPMorgan Chase & Co. grew its stake in EyePoint Pharmaceuticals by 1,171.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 371,758 shares of the company's stock worth $2,970,000 after purchasing an additional 342,516 shares in the last quarter. Finally, Cyndeo Wealth Partners LLC increased its holdings in EyePoint Pharmaceuticals by 35.5% during the 4th quarter. Cyndeo Wealth Partners LLC now owns 16,990 shares of the company's stock worth $127,000 after purchasing an additional 4,450 shares during the period. Institutional investors and hedge funds own 99.41% of the company's stock.

EyePoint Pharmaceuticals Stock Up 2.4 %

EYPT traded up $0.17 during trading on Friday, hitting $7.30. 690,968 shares of the stock were exchanged, compared to its average volume of 879,558. The firm has a market capitalization of $502.32 million, a P/E ratio of -3.65 and a beta of 1.39. EyePoint Pharmaceuticals, Inc. has a 1-year low of $3.91 and a 1-year high of $14.00. The stock has a fifty day moving average price of $6.00 and a two-hundred day moving average price of $7.66.

EyePoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last released its quarterly earnings results on Wednesday, March 5th. The company reported ($0.64) EPS for the quarter, missing the consensus estimate 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 business had revenue of $11.60 million during the quarter, compared to analysts' expectations of $11.02 million. Analysts predict that EyePoint Pharmaceuticals, Inc. will post -2.13 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.