The Manufacturers Life Insurance Company Reduces Stock Holdings in EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT)

The Manufacturers Life Insurance Company trimmed its position in shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) by 11.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 68,043 shares of the company’s stock after selling 8,496 shares during the period. The Manufacturers Life Insurance Company’s holdings in EyePoint Pharmaceuticals were worth $592,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of EyePoint Pharmaceuticals during the 4th quarter valued at $3,166,000. 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 valued at $7,637,000 after buying an additional 298,196 shares during the period. Cubist Systematic Strategies LLC lifted its holdings in shares of EyePoint Pharmaceuticals by 842.5% in the second quarter. Cubist Systematic Strategies LLC now owns 476,250 shares of the company’s stock worth $4,143,000 after buying an additional 425,717 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of EyePoint Pharmaceuticals by 26.5% in the first quarter. Janney Montgomery Scott LLC now owns 18,040 shares of the company’s stock valued at $373,000 after acquiring an additional 3,780 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of 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 acquiring an additional 80,900 shares during the period. 99.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on EYPT. Jefferies Financial Group started coverage on shares of EyePoint Pharmaceuticals in a research report on Wednesday, August 28th. They set a “buy” rating and a $15.00 price target for the company. Chardan Capital restated a “buy” rating and set a $28.00 target price on shares of EyePoint Pharmaceuticals in a research report on Friday, June 28th. StockNews.com upgraded EyePoint Pharmaceuticals to a “sell” rating in a research note on Saturday, September 21st. HC Wainwright reiterated a “buy” rating and set a $30.00 price target on shares of EyePoint Pharmaceuticals in a research report on Thursday, June 27th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of EyePoint Pharmaceuticals in a research report on Thursday, June 20th. One equities research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $30.57.

EyePoint Pharmaceuticals Stock Performance

EYPT stock opened at $9.88 on Wednesday. The firm has a market cap of $514.59 million, a P/E ratio of -5.43 and a beta of 1.57. The firm’s fifty day moving average is $8.55 and its 200 day moving average is $11.09. EyePoint Pharmaceuticals, Inc. has a 52 week low of $5.67 and a 52 week high of $30.99.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.58) 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 company had revenue of $9.48 million during the quarter, compared to analysts’ expectations of $11.61 million. As a group, analysts forecast that EyePoint Pharmaceuticals, Inc. will post -2.33 EPS for the current year.

EyePoint Pharmaceuticals 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.