Millennium Management LLC Reduces Position in EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT)

Millennium Management LLC trimmed its holdings in shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) by 71.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 580,716 shares of the company’s stock after selling 1,465,722 shares during the quarter. Millennium Management LLC owned 1.11% of EyePoint Pharmaceuticals worth $5,052,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Deerfield Management Company L.P. Series C increased its position in shares of EyePoint Pharmaceuticals by 51.4% during the second quarter. Deerfield Management Company L.P. Series C now owns 877,790 shares of the company’s stock worth $7,637,000 after acquiring an additional 298,196 shares during the last quarter. Cubist Systematic Strategies LLC increased its position in shares of EyePoint Pharmaceuticals by 842.5% during the second quarter. Cubist Systematic Strategies LLC now owns 476,250 shares of the company’s stock worth $4,143,000 after acquiring an additional 425,717 shares during the last quarter. Renaissance Technologies LLC increased its holdings in EyePoint Pharmaceuticals by 112.5% in the second quarter. Renaissance Technologies LLC now owns 152,800 shares of the company’s stock valued at $1,329,000 after buying an additional 80,900 shares during the last quarter. Greenwich Wealth Management LLC bought a new stake in EyePoint Pharmaceuticals in the second quarter valued at about $94,000. Finally, Arizona State Retirement System increased its holdings in EyePoint Pharmaceuticals by 9.7% in the second quarter. Arizona State Retirement System now owns 13,251 shares of the company’s stock valued at $115,000 after buying an additional 1,171 shares during the last quarter. 99.41% of the stock is owned by hedge funds and other institutional investors.

EyePoint Pharmaceuticals Trading Up 7.2 %

Shares of NASDAQ EYPT opened at $8.83 on Friday. The stock has a 50 day simple moving average of $8.50 and a 200-day simple moving average of $11.38. The company has a market cap of $459.90 million, a PE 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.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last issued its quarterly earnings data 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). The business had revenue of $9.48 million for the quarter, compared to analyst estimates of $11.61 million. EyePoint Pharmaceuticals had a negative return on equity of 43.24% and a negative net margin of 172.29%. Sell-side analysts forecast that EyePoint Pharmaceuticals, Inc. will post -2.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

EYPT has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered their price objective on EyePoint Pharmaceuticals from $32.00 to $29.00 and set an “overweight” rating for the company in a report on Tuesday, August 13th. StockNews.com raised EyePoint Pharmaceuticals to a “sell” rating in a report on Saturday, September 21st. Chardan Capital reissued 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 report on Thursday, June 27th. Finally, Jefferies Financial Group assumed coverage on EyePoint Pharmaceuticals in a research note on Wednesday, August 28th. They issued a “buy” rating and a $15.00 target price 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $30.57.

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.