Insider Buying: EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Major Shareholder Buys 850,000 Shares of Stock

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) major shareholder Cormorant Asset Management, Lp acquired 850,000 shares of the company’s stock in a transaction on Monday, May 6th. The stock was bought at an average price of $11.86 per share, for a total transaction of $10,081,000.00. Following the purchase, the insider now owns 8,325,000 shares in the company, valued at approximately $98,734,500. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Cormorant Asset Management, Lp also recently made the following trade(s):

• On Thursday, April 18th, Cormorant Asset Management, Lp bought 581,765 shares of EyePoint Pharmaceuticals stock. The stock was bought at an average price of $18.03 per share, with a total value of $10,489,222.95.

EyePoint Pharmaceuticals Stock Performance

Shares of EyePoint Pharmaceuticals stock traded down $0.31 during trading hours on Wednesday, reaching $11.56. The company’s stock had a trading volume of 1,426,716 shares, compared to its average volume of 1,126,280. The company has a market capitalization of $602.09 million, a P/E ratio of -6.32 and a beta of 1.70. EyePoint Pharmaceuticals, Inc. has a one year low of $5.67 and a one year high of $30.99. The stock’s fifty day simple moving average is $20.96 and its two-hundred day simple moving average is $19.20.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last released its quarterly earnings results on Thursday, March 7th. The company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.27. The business had revenue of $14.03 million during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the company earned ($0.61) EPS. As a group, research analysts forecast that EyePoint Pharmaceuticals, Inc. will post -1.73 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on EYPT shares. HC Wainwright cut their target price on EyePoint Pharmaceuticals from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Tuesday, January 16th. Robert W. Baird lowered their price objective on EyePoint Pharmaceuticals from $46.00 to $38.00 and set an “outperform” rating for the company in a research report on Wednesday. Capital One Financial reaffirmed an “overweight” rating on shares of EyePoint Pharmaceuticals in a research note on Friday, February 16th. JPMorgan Chase & Co. assumed coverage on shares of EyePoint Pharmaceuticals in a research report on Monday, January 22nd. They set an “overweight” rating and a $35.00 price objective for the company. Finally, Chardan Capital lowered their target price on EyePoint Pharmaceuticals from $39.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $34.14.

Hedge Funds Weigh In On EyePoint Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Deutsche Bank AG raised its holdings in EyePoint Pharmaceuticals by 4.0% in the 3rd quarter. Deutsche Bank AG now owns 21,764 shares of the company’s stock worth $174,000 after acquiring an additional 830 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in EyePoint Pharmaceuticals by 6.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,584 shares of the company’s stock worth $360,000 after buying an additional 882 shares during the period. FNY Investment Advisers LLC bought a new stake in EyePoint Pharmaceuticals during the 4th quarter valued at approximately $27,000. Tower Research Capital LLC TRC grew its holdings in EyePoint Pharmaceuticals by 36.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,724 shares of the company’s stock valued at $109,000 after buying an additional 1,250 shares in the last quarter. Finally, Toth Financial Advisory Corp boosted its position in shares of EyePoint Pharmaceuticals by 42.9% during the fourth 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 during the last quarter. Hedge funds and other institutional investors own 99.41% of the company’s stock.

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.