EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Shares Sold by Legato Capital Management LLC

Legato Capital Management LLC cut its stake in EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) by 23.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 37,542 shares of the company’s stock after selling 11,238 shares during the quarter. Legato Capital Management LLC owned about 0.06% of EyePoint Pharmaceuticals worth $280,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of EYPT. Patient Square Capital LP acquired a new stake in shares of EyePoint Pharmaceuticals in the 3rd quarter worth $10,882,000. Franklin Resources Inc. increased its position in shares of EyePoint Pharmaceuticals by 9.9% during the 3rd quarter. Franklin Resources Inc. now owns 4,012,048 shares of the company’s stock worth $32,056,000 after purchasing an additional 362,399 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of EyePoint Pharmaceuticals by 1,171.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 371,758 shares of the company’s stock worth $2,970,000 after purchasing an additional 342,516 shares during the last quarter. abrdn plc acquired a new stake in shares of EyePoint Pharmaceuticals during the 4th quarter worth about $1,719,000. Finally, Barclays PLC increased its position in shares of EyePoint Pharmaceuticals by 410.4% during the 3rd quarter. Barclays PLC now owns 245,045 shares of the company’s stock worth $1,959,000 after purchasing an additional 197,033 shares during the last quarter. 99.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on EYPT. Robert W. Baird cut their price objective on EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating for the company in a research report on Monday, November 11th. Citigroup began coverage on EyePoint Pharmaceuticals in a research report on Tuesday, January 7th. They set a “buy” rating and a $33.00 price objective for the company. Chardan Capital reissued a “buy” rating and set a $33.00 price objective on shares of EyePoint Pharmaceuticals in a research report on Thursday, February 6th. Finally, HC Wainwright reissued a “buy” rating and set a $22.00 price objective on shares of EyePoint Pharmaceuticals in a research report on Thursday, December 5th. One research analyst has rated the stock with a sell rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, EyePoint Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $26.63.

EyePoint Pharmaceuticals Price Performance

NASDAQ EYPT opened at $6.50 on Friday. The stock has a 50-day moving average of $7.66 and a two-hundred day moving average of $8.70. The company has a market cap of $443.63 million, a P/E ratio of -3.25 and a beta of 1.51. EyePoint Pharmaceuticals, Inc. has a 1-year low of $5.90 and a 1-year high of $29.95.

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.