Cormorant Asset Management, Lp Acquires 581,765 Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Stock

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) major shareholder Cormorant Asset Management, Lp purchased 581,765 shares of the firm’s stock in a transaction on Thursday, April 18th. The shares were acquired at an average cost of $18.03 per share, for a total transaction 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 SEC, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

EyePoint Pharmaceuticals Stock Performance

Shares of EYPT stock opened at $17.57 on Wednesday. EyePoint Pharmaceuticals, Inc. has a fifty-two week low of $5.67 and a fifty-two week high of $30.99. The firm has a market cap of $875.53 million, a P/E ratio of -9.60 and a beta of 1.64. The business’s 50 day moving average price is $23.19 and its 200-day moving average price is $18.60.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last posted its earnings results on Thursday, March 7th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate 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 firm had revenue of $14.03 million during the quarter, compared to analysts’ expectations of $8.71 million. During the same period last year, the company posted ($0.61) EPS. As a group, equities analysts predict that EyePoint Pharmaceuticals, Inc. will post -1.73 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in EYPT. FNY Investment Advisers LLC purchased a new stake in EyePoint Pharmaceuticals in the fourth quarter worth $27,000. China Universal Asset Management Co. Ltd. bought a new stake in shares of EyePoint Pharmaceuticals during the 4th quarter valued at $94,000. Sherbrooke Park Advisers LLC purchased a new stake in shares of EyePoint Pharmaceuticals in the 3rd quarter worth about $101,000. Tower Research Capital LLC TRC increased its stake in shares of EyePoint Pharmaceuticals by 36.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,724 shares of the company’s stock worth $109,000 after acquiring an additional 1,250 shares in the last quarter. Finally, Toth Financial Advisory Corp increased its stake in shares of EyePoint Pharmaceuticals by 42.9% in the 4th quarter. Toth Financial Advisory Corp now owns 5,000 shares of the company’s stock worth $116,000 after acquiring an additional 1,500 shares in the last quarter. Institutional investors own 99.41% of the company’s stock.

Wall Street Analysts Forecast Growth

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