Insider Buying: EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Major Shareholder Purchases $10,489,222.95 in Stock

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) major shareholder Cormorant Asset Management, Lp acquired 581,765 shares of the business’s stock in a transaction dated Thursday, April 18th. The stock was purchased at an average cost of $18.03 per share, for a total transaction of $10,489,222.95. Following the transaction, the insider now owns 7,475,000 shares in the company, valued at $134,774,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

EyePoint Pharmaceuticals Price Performance

EYPT opened at $16.47 on Thursday. The firm has a fifty day moving average price of $23.19 and a 200 day moving average price of $18.60. EyePoint Pharmaceuticals, Inc. has a 1 year low of $5.67 and a 1 year high of $30.99. The stock has a market cap of $820.70 million, a P/E ratio of -9.00 and a beta of 1.64.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last posted its earnings results on Thursday, March 7th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating 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 in the previous year, the business posted ($0.61) EPS. Equities analysts expect that EyePoint Pharmaceuticals, Inc. will post -1.73 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Capital One Financial reaffirmed an “overweight” rating on shares of EyePoint Pharmaceuticals in a research report on Friday, February 16th. JPMorgan Chase & Co. initiated coverage on shares of EyePoint Pharmaceuticals in a research note on Monday, January 22nd. They issued an “overweight” rating and a $35.00 target price for the company. HC Wainwright lowered their target price on shares of EyePoint Pharmaceuticals from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Tuesday, January 16th. Finally, 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 note on Friday, February 16th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, EyePoint Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $34.00.

Institutional Investors Weigh In On EyePoint Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Woodstock Corp increased its holdings in EyePoint Pharmaceuticals by 38.3% in the 1st quarter. Woodstock Corp now owns 30,778 shares of the company’s stock worth $636,000 after acquiring an additional 8,525 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in EyePoint Pharmaceuticals in the 4th quarter worth $3,166,000. Sierra Summit Advisors LLC purchased a new stake in EyePoint Pharmaceuticals in the 4th quarter worth $523,000. PFM Health Sciences LP purchased a new stake in EyePoint Pharmaceuticals in the 4th quarter worth $3,949,000. Finally, Artia Global Partners LP purchased a new stake in EyePoint Pharmaceuticals in the 4th quarter worth $1,156,000. Hedge funds and other institutional investors own 99.41% of the company’s stock.

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.