Deerfield Management Company L.P. Series C Buys 298,196 Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT)

Deerfield Management Company L.P. Series C boosted its stake in shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) by 51.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 877,790 shares of the company’s stock after purchasing an additional 298,196 shares during the quarter. Deerfield Management Company L.P. Series C’s holdings in EyePoint Pharmaceuticals were worth $7,637,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

EyePoint Pharmaceuticals Trading Down 2.3 %

EYPT opened at $8.15 on Thursday. 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 $8.73 and a two-hundred day moving average of $12.47. The firm has a market capitalization of $424.48 million, a PE ratio of -4.48 and a beta of 1.59.

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

Insider Buying and Selling at EyePoint Pharmaceuticals

In other news, Director David R. Guyer sold 11,625 shares of the company’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $10.06, for a total value of $116,947.50. Following the sale, the director now owns 1,850 shares in the company, valued at $18,611. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.74% of the company’s stock.

Analysts Set New Price Targets

EYPT has been the subject of a number of recent analyst reports. HC Wainwright reissued a “buy” rating and issued a $30.00 price objective on shares of EyePoint Pharmaceuticals in a research report on Thursday, June 27th. Jefferies Financial Group initiated coverage on EyePoint Pharmaceuticals in a research note on Wednesday, August 28th. They issued a “buy” rating and a $15.00 price target for the company. Cantor Fitzgerald restated an “overweight” rating on shares of EyePoint Pharmaceuticals in a report on Thursday, June 20th. JPMorgan Chase & Co. lowered their target price on shares of EyePoint Pharmaceuticals from $32.00 to $29.00 and set an “overweight” rating for the company in a research note on Tuesday, August 13th. Finally, Chardan Capital restated a “buy” rating and set a $28.00 price target on shares of EyePoint Pharmaceuticals in a research note on Friday, June 28th. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $30.57.

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.