Essex Investment Management Co. LLC Boosts Holdings in EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT)

Essex Investment Management Co. LLC grew its position in EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) by 234.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 142,144 shares of the company’s stock after purchasing an additional 99,606 shares during the quarter. Essex Investment Management Co. LLC owned about 0.27% of EyePoint Pharmaceuticals worth $1,136,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ameritas Investment Partners Inc. lifted its stake in shares of EyePoint Pharmaceuticals by 44.0% during the first quarter. Ameritas Investment Partners Inc. now owns 3,719 shares of the company’s stock worth $77,000 after buying an additional 1,136 shares during the period. China Universal Asset Management Co. Ltd. raised its stake in shares of EyePoint Pharmaceuticals by 129.9% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 9,393 shares of the company’s stock worth $194,000 after buying an additional 5,308 shares during the period. ProShare Advisors LLC purchased a new position in shares of EyePoint Pharmaceuticals during the 1st quarter valued at approximately $209,000. Greenwich Wealth Management LLC purchased a new position in EyePoint Pharmaceuticals during the second quarter valued at $94,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of EyePoint Pharmaceuticals by 271.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,888 shares of the company’s stock valued at $95,000 after purchasing an additional 7,953 shares during the period. Hedge funds and other institutional investors own 99.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on EYPT. Chardan Capital reiterated a “buy” rating and issued a $28.00 price objective on shares of EyePoint Pharmaceuticals in a report on Friday, June 28th. HC Wainwright reissued a “buy” rating and issued a $30.00 price objective on shares of EyePoint Pharmaceuticals in a research note on Thursday, June 27th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of EyePoint Pharmaceuticals in a research note on Thursday, June 20th. JPMorgan Chase & Co. decreased their price target on shares of EyePoint Pharmaceuticals from $32.00 to $29.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 13th. Finally, Jefferies Financial Group assumed coverage on shares of EyePoint Pharmaceuticals in a research note on Wednesday, August 28th. They set a “buy” rating and a $15.00 price objective for the company. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $30.57.

EyePoint Pharmaceuticals Trading Up 7.2 %

EYPT traded up $0.59 during trading hours on Friday, hitting $8.83. 716,769 shares of the company’s stock were exchanged, compared to its average volume of 923,145. The firm has a market cap of $459.90 million, a P/E ratio of -4.85 and a beta of 1.57. EyePoint Pharmaceuticals, Inc. has a 12-month low of $5.67 and a 12-month high of $30.99. The firm has a 50 day moving average of $8.50 and a 200 day moving average of $11.31.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last released its earnings results on Wednesday, August 7th. The company reported ($0.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.03). EyePoint Pharmaceuticals had a negative net margin of 172.29% and a negative return on equity of 43.24%. The company had revenue of $9.48 million during the quarter, compared to analysts’ expectations of $11.61 million. As a group, research analysts expect that EyePoint Pharmaceuticals, Inc. will post -2.33 EPS for the current fiscal year.

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.