1,066,240 Shares in EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Acquired by Jennison Associates LLC

Jennison Associates LLC purchased a new position in shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,066,240 shares of the company’s stock, valued at approximately $24,641,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Federated Hermes Inc. raised its stake in shares of EyePoint Pharmaceuticals by 194.0% during the fourth quarter. Federated Hermes Inc. now owns 674,824 shares of the company’s stock worth $15,595,000 after buying an additional 445,289 shares during the last quarter. Barclays PLC grew its holdings in EyePoint Pharmaceuticals by 103.4% during the third quarter. Barclays PLC now owns 45,659 shares of the company’s stock valued at $365,000 after purchasing an additional 23,208 shares during the period. TD Asset Management Inc acquired a new position in EyePoint Pharmaceuticals during the third quarter valued at approximately $574,000. Scotia Capital Inc. grew its holdings in EyePoint Pharmaceuticals by 144.9% during the third quarter. Scotia Capital Inc. now owns 90,963 shares of the company’s stock valued at $727,000 after purchasing an additional 53,820 shares during the period. Finally, DekaBank Deutsche Girozentrale acquired a new position in EyePoint Pharmaceuticals during the fourth quarter valued at approximately $820,000. 99.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on EYPT. JPMorgan Chase & Co. began coverage on shares of EyePoint Pharmaceuticals in a report on Monday, January 22nd. They issued an “overweight” rating and a $35.00 price target for the company. HC Wainwright dropped their price target on shares of EyePoint Pharmaceuticals from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Tuesday, January 16th. Mizuho upped their price target on shares of EyePoint Pharmaceuticals from $30.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Finally, Capital One Financial reissued an “overweight” rating on shares of EyePoint Pharmaceuticals in a research report on Friday, February 16th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $34.00.

Insider Activity

In other news, insider Dario A. Paggiarino sold 49,325 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $25.66, for a total value of $1,265,679.50. Following the sale, the insider now directly owns 36,505 shares in the company, valued at approximately $936,718.30. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Dario A. Paggiarino sold 49,325 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $25.66, for a total value of $1,265,679.50. Following the sale, the insider now directly owns 36,505 shares in the company, valued at approximately $936,718.30. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Cormorant Asset Management, Lp purchased 581,765 shares of EyePoint Pharmaceuticals stock in a transaction dated Thursday, April 18th. The stock was bought at an average price of $18.03 per share, for a total transaction of $10,489,222.95. Following the completion of the purchase, the insider now owns 7,475,000 shares in the company, valued at approximately $134,774,250. The disclosure for this purchase can be found here. 13.05% of the stock is currently owned by corporate insiders.

EyePoint Pharmaceuticals Trading Down 6.3 %

Shares of EyePoint Pharmaceuticals stock opened at $16.47 on Thursday. EyePoint Pharmaceuticals, Inc. has a 12-month low of $5.67 and a 12-month high of $30.99. The firm’s 50-day moving average price is $23.19 and its two-hundred day moving average price is $18.60.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last announced its quarterly earnings data on Thursday, March 7th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the company posted ($0.61) earnings per share. Equities research analysts anticipate that EyePoint Pharmaceuticals, Inc. will post -1.73 EPS for the current year.

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.