EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Major Shareholder Cormorant Asset Management, Lp Buys 850,000 Shares of Stock

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) major shareholder Cormorant Asset Management, Lp purchased 850,000 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were acquired at an average cost of $11.86 per share, with a total value of $10,081,000.00. Following the completion of the acquisition, the insider now directly owns 8,325,000 shares in the company, valued at $98,734,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Cormorant Asset Management, Lp also recently made the following trade(s):

• On Thursday, April 18th, Cormorant Asset Management, Lp acquired 581,765 shares of EyePoint Pharmaceuticals stock. The shares were bought at an average cost of $18.03 per share, for a total transaction of $10,489,222.95.

EyePoint Pharmaceuticals Price Performance

NASDAQ:EYPT opened at $11.56 on Thursday. The firm has a market cap of $602.09 million, a PE ratio of -6.32 and a beta of 1.70. EyePoint Pharmaceuticals, Inc. has a 1-year low of $5.67 and a 1-year high of $30.99. The firm has a 50 day simple moving average of $20.64 and a 200-day simple moving average of $19.14.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last announced its quarterly earnings data on Thursday, March 7th. The company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.27. EyePoint Pharmaceuticals had a negative return on equity of 61.48% and a negative net margin of 153.84%. The business had revenue of $14.03 million during the quarter, compared to the consensus estimate of $8.71 million. During the same quarter in the previous year, the business earned ($0.61) earnings per share. As a group, sell-side analysts expect that EyePoint Pharmaceuticals, Inc. will post -1.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on EYPT shares. JPMorgan Chase & Co. assumed coverage on shares of EyePoint Pharmaceuticals in a research report on Monday, January 22nd. They issued an “overweight” rating and a $35.00 price target for the company. Robert W. Baird decreased their price objective on EyePoint Pharmaceuticals from $46.00 to $38.00 and set an “outperform” rating for the company in a research report on Wednesday. Mizuho dropped their target price on EyePoint Pharmaceuticals from $39.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday. HC Wainwright dropped their price objective on shares of EyePoint Pharmaceuticals from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Tuesday, January 16th. Finally, Capital One Financial restated an “overweight” rating on shares of EyePoint Pharmaceuticals in a research note on Friday, February 16th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $34.14.

Institutional Investors Weigh In On EyePoint Pharmaceuticals

Several hedge funds have recently modified their holdings of EYPT. FNY Investment Advisers LLC acquired a new position in shares of EyePoint Pharmaceuticals in the 4th quarter valued at $27,000. China Universal Asset Management Co. Ltd. purchased a new position in EyePoint Pharmaceuticals in the fourth quarter valued at about $94,000. Tower Research Capital LLC TRC lifted its stake in shares of EyePoint Pharmaceuticals by 36.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,724 shares of the company’s stock worth $109,000 after purchasing an additional 1,250 shares in the last quarter. Toth Financial Advisory Corp boosted its position in shares of EyePoint Pharmaceuticals by 42.9% in the fourth quarter. Toth Financial Advisory Corp now owns 5,000 shares of the company’s stock worth $116,000 after buying an additional 1,500 shares during the period. Finally, ProShare Advisors LLC acquired a new stake in shares of EyePoint Pharmaceuticals in the first quarter valued at about $209,000. 99.41% of the stock is owned by institutional investors and hedge funds.

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.