EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Get Free Report) major shareholder Cormorant Asset Management, Lp acquired 850,000 shares of the firm's stock in a transaction dated Monday, May 6th. The shares were purchased at an average price of $11.86 per share, with a total value of $10,081,000.00. Following the completion of the transaction, the insider now owns 8,325,000 shares of the company's stock, valued at $98,734,500. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own 10% or more 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 purchased 581,765 shares of EyePoint Pharmaceuticals stock. The shares were purchased at an average cost of $18.03 per share, for a total transaction of $10,489,222.95.
EyePoint Pharmaceuticals Stock Down 2.6 %
EyePoint Pharmaceuticals stock opened at $11.56 on Thursday. The firm has a fifty day simple moving average of $20.64 and a two-hundred day simple moving average of $19.14. EyePoint Pharmaceuticals, Inc. has a twelve month low of $5.67 and a twelve month high of $30.99. The company has a market capitalization of $602.09 million, a PE ratio of -6.32 and a beta of 1.70.
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EyePoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last posted its quarterly earnings results on Thursday, March 7th. The company reported ($0.33) EPS for the quarter, beating analysts' consensus estimates of ($0.60) by $0.27. The company had revenue of $14.03 million during the quarter, compared to analyst estimates of $8.71 million. EyePoint Pharmaceuticals had a negative net margin of 153.84% and a negative return on equity of 61.48%. During the same period in the prior year, the business posted ($0.61) EPS. As a group, equities analysts expect that EyePoint Pharmaceuticals, Inc. will post -1.73 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of equities research analysts have issued reports on the stock. Robert W. Baird reduced their price objective on shares of EyePoint Pharmaceuticals from $46.00 to $38.00 and set an "outperform" rating for the company in a research report on Wednesday. Mizuho decreased their price objective on shares of EyePoint Pharmaceuticals from $39.00 to $30.00 and set a "buy" rating for the company in a report on Tuesday. JPMorgan Chase & Co. initiated coverage on EyePoint Pharmaceuticals in a research note on Monday, January 22nd. They issued an "overweight" rating and a $35.00 price objective on the stock. HC Wainwright decreased their price objective on EyePoint Pharmaceuticals from $35.00 to $33.00 and set a "buy" rating for the company in a report on Tuesday, January 16th. Finally, Capital One Financial reiterated an "overweight" rating on shares of EyePoint Pharmaceuticals in a research note on Friday, February 16th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $34.14.
Read Our Latest Stock Analysis on EyePoint Pharmaceuticals
Hedge Funds Weigh In On EyePoint Pharmaceuticals
A number of hedge funds have recently bought and sold shares of the company. FNY Investment Advisers LLC bought a new position in shares of EyePoint Pharmaceuticals in the 4th quarter worth approximately $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 $101,000. Tower Research Capital LLC TRC raised its holdings in 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 purchasing an additional 1,250 shares during the period. Finally, Toth Financial Advisory Corp lifted its position in EyePoint Pharmaceuticals by 42.9% during the fourth quarter. Toth Financial Advisory Corp now owns 5,000 shares of the company's stock valued at $116,000 after purchasing an additional 1,500 shares in the last quarter. Institutional investors own 99.41% of the company's stock.
EyePoint Pharmaceuticals Company Profile
(
Get Free Report)
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.
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