Cormorant Asset Management LP lessened its stake in shares of Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT – Free Report) by 0.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,265,000 shares of the company’s stock after selling 60,000 shares during the period. Eyepoint Pharmaceuticals accounts for approximately 7.0% of Cormorant Asset Management LP’s investment portfolio, making the stock its 4th biggest position. Cormorant Asset Management LP owned approximately 0.10% of Eyepoint Pharmaceuticals worth $151,002,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Paradigm Biocapital Advisors LP purchased a new stake in Eyepoint Pharmaceuticals during the 3rd quarter worth approximately $28,556,000. Orbimed Advisors LLC purchased a new position in shares of Eyepoint Pharmaceuticals in the third quarter valued at approximately $25,575,000. Federated Hermes Inc. lifted its position in shares of Eyepoint Pharmaceuticals by 36.3% in the fourth quarter. Federated Hermes Inc. now owns 6,017,433 shares of the company’s stock valued at $109,938,000 after acquiring an additional 1,601,101 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Eyepoint Pharmaceuticals by 27.1% in the fourth quarter. Vanguard Group Inc. now owns 4,822,139 shares of the company’s stock worth $88,100,000 after acquiring an additional 1,027,623 shares during the last quarter. Finally, Spruce Street Capital LP acquired a new stake in shares of Eyepoint Pharmaceuticals in the fourth quarter worth approximately $17,933,000. 99.41% of the stock is currently owned by institutional investors and hedge funds.
Eyepoint Pharmaceuticals Stock Performance
EYPT opened at $13.15 on Thursday. Eyepoint Pharmaceuticals, Inc. has a one year low of $7.94 and a one year high of $19.11. The stock has a market capitalization of $1.10 billion, a P/E ratio of -3.76 and a beta of 1.72. The business’s 50-day simple moving average is $13.28 and its 200-day simple moving average is $14.66.
Wall Street Analyst Weigh In
Several research analysts recently commented on the company. Royal Bank Of Canada reduced their price objective on Eyepoint Pharmaceuticals from $39.00 to $37.00 and set an “outperform” rating for the company in a research note on Thursday, May 7th. Citigroup lifted their target price on shares of Eyepoint Pharmaceuticals from $31.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, March 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research report on Tuesday, April 21st. Chardan Capital raised their price target on shares of Eyepoint Pharmaceuticals from $27.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Finally, HC Wainwright boosted their price target on shares of Eyepoint Pharmaceuticals from $23.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $31.80.
Read Our Latest Research Report on EYPT
Insiders Place Their Bets
In other Eyepoint Pharmaceuticals news, insider Ramiro Ribeiro sold 2,437 shares of Eyepoint Pharmaceuticals stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $15.00, for a total value of $36,555.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 5.13% of the company’s stock.
Eyepoint Pharmaceuticals Profile
Eyepoint Pharmaceuticals, Inc is a biopharmaceutical company focused on the development and commercialization of therapies for the treatment of ocular diseases. The company’s proprietary platform centers on sustained-release formulations designed to improve drug delivery to the posterior segment of the eye, addressing conditions that often require repeated intravitreal injections or intensive topical regimens. Eyepoint’s commercial strategy combines in-house sales and marketing capabilities with targeted partnerships to bring its therapies to ophthalmologists and retina specialists across the United States.
Eyepoint’s lead products include YUTIQ, a fluocinolone acetonide intravitreal implant indicated for the prevention of relapse in non-infectious uveitis affecting the posterior segment of the eye, and DEXYCU, a dexamethasone intraocular suspension approved for postoperative inflammation following ocular surgery.
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