Cormorant Asset Management, Lp Purchases 850,000 Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Stock

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) major shareholder Cormorant Asset Management, Lp bought 850,000 shares of the stock in a transaction on Monday, May 6th. The stock was purchased at an average price of $11.86 per share, for a total transaction of $10,081,000.00. Following the completion of the purchase, the insider now directly owns 8,325,000 shares in the company, valued at $98,734,500. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own 10% or more 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 acquired 581,765 shares of EyePoint Pharmaceuticals stock. The shares were purchased at an average price of $18.03 per share, for a total transaction of $10,489,222.95.

EyePoint Pharmaceuticals Stock Down 2.6 %

NASDAQ:EYPT traded down $0.31 during mid-day trading on Wednesday, hitting $11.56. 1,426,716 shares of the company traded hands, compared to its average volume of 1,126,280. The stock’s fifty day moving average price is $20.96 and its 200-day moving average price is $19.20. The firm has a market cap of $602.09 million, a price-to-earnings 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.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last released its earnings results on Thursday, March 7th. The company reported ($0.33) EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $8.71 million. During the same quarter in the previous year, the firm earned ($0.61) earnings per share. Equities analysts predict that EyePoint Pharmaceuticals, Inc. will post -1.73 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Capital One Financial reaffirmed an “overweight” rating on shares of EyePoint Pharmaceuticals in a research note on Friday, February 16th. Robert W. Baird reduced their target price on EyePoint Pharmaceuticals from $46.00 to $38.00 and set an “outperform” rating on the stock in a report on Wednesday. Mizuho lowered their target price on EyePoint Pharmaceuticals from $39.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. initiated coverage on EyePoint Pharmaceuticals in a research note on Monday, January 22nd. They issued an “overweight” rating and a $35.00 price target on the stock. Finally, Chardan Capital dropped their target price on EyePoint Pharmaceuticals from $39.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.14.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EYPT. FNY Investment Advisers LLC purchased a new stake in shares of EyePoint Pharmaceuticals during the 4th quarter worth $27,000. China Universal Asset Management Co. Ltd. purchased a new position in EyePoint Pharmaceuticals during the fourth quarter worth approximately $94,000. Sherbrooke Park Advisers LLC purchased a new stake in shares of EyePoint Pharmaceuticals during the third quarter worth about $101,000. Tower Research Capital LLC TRC increased its position in shares of EyePoint Pharmaceuticals by 36.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,724 shares of the company’s stock worth $109,000 after purchasing an additional 1,250 shares in the last quarter. Finally, Toth Financial Advisory Corp raised its holdings in EyePoint Pharmaceuticals by 42.9% in the 4th quarter. Toth Financial Advisory Corp now owns 5,000 shares of the company’s stock valued at $116,000 after acquiring an additional 1,500 shares during the last quarter. 99.41% of the stock is currently owned by institutional investors.

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.