Woodline Partners LP Buys 101,724 Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT)

Woodline Partners LP grew its stake in EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) by 25.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 501,724 shares of the company’s stock after acquiring an additional 101,724 shares during the period. Woodline Partners LP owned 0.74% of EyePoint Pharmaceuticals worth $3,738,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of EYPT. RA Capital Management L.P. acquired a new position in EyePoint Pharmaceuticals in the fourth quarter valued at approximately $23,705,000. TCG Crossover Management LLC lifted its holdings in EyePoint Pharmaceuticals by 287.3% in the fourth quarter. TCG Crossover Management LLC now owns 3,572,335 shares of the company’s stock valued at $26,614,000 after buying an additional 2,650,000 shares during the period. Adage Capital Partners GP L.L.C. lifted its holdings in EyePoint Pharmaceuticals by 51.7% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 5,750,000 shares of the company’s stock valued at $42,838,000 after buying an additional 1,958,580 shares during the period. Federated Hermes Inc. lifted its holdings in EyePoint Pharmaceuticals by 92.7% in the fourth quarter. Federated Hermes Inc. now owns 3,707,445 shares of the company’s stock valued at $27,620,000 after buying an additional 1,783,765 shares during the period. Finally, Suvretta Capital Management LLC lifted its holdings in EyePoint Pharmaceuticals by 31.1% in the fourth quarter. Suvretta Capital Management LLC now owns 6,783,091 shares of the company’s stock valued at $50,534,000 after buying an additional 1,607,268 shares during the period. 99.41% of the stock is owned by institutional investors.

EyePoint Pharmaceuticals Stock Performance

Shares of NASDAQ:EYPT opened at $5.68 on Friday. EyePoint Pharmaceuticals, Inc. has a 52 week low of $3.91 and a 52 week high of $13.99. The company has a market capitalization of $390.85 million, a PE ratio of -2.84 and a beta of 1.58. The company has a 50 day moving average price of $5.82 and a two-hundred day moving average price of $7.12.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last issued its earnings results on Wednesday, May 7th. The company reported ($0.65) EPS for the quarter, meeting the consensus estimate of ($0.65). EyePoint Pharmaceuticals had a negative net margin of 226.57% and a negative return on equity of 43.01%. The firm had revenue of $24.50 million during the quarter, compared to the consensus estimate of $8.84 million. On average, sell-side analysts forecast that EyePoint Pharmaceuticals, Inc. will post -2.13 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Mizuho cut their price objective on shares of EyePoint Pharmaceuticals from $30.00 to $26.00 and set an “outperform” rating on the stock in a report on Friday, May 16th. HC Wainwright restated a “buy” rating and issued a $22.00 price objective on shares of EyePoint Pharmaceuticals in a report on Thursday, March 6th. Wall Street Zen upgraded shares of EyePoint Pharmaceuticals to a “sell” rating in a report on Friday, March 14th. Finally, Chardan Capital lowered their target price on shares of EyePoint Pharmaceuticals from $33.00 to $27.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.38.

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.