Renaissance Technologies LLC Acquires 55,700 Shares of Eyepoint Pharmaceuticals, Inc. $EYPT

Renaissance Technologies LLC boosted its holdings in Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) by 90.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 117,300 shares of the company’s stock after acquiring an additional 55,700 shares during the quarter. Renaissance Technologies LLC owned 0.14% of Eyepoint Pharmaceuticals worth $1,512,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in EYPT. Simplify Asset Management Inc. increased its position in Eyepoint Pharmaceuticals by 314.9% during the fourth quarter. Simplify Asset Management Inc. now owns 375,264 shares of the company’s stock valued at $6,856,000 after acquiring an additional 284,824 shares during the last quarter. Walleye Capital LLC purchased a new position in Eyepoint Pharmaceuticals in the first quarter worth about $3,869,000. Swiss National Bank purchased a new position in Eyepoint Pharmaceuticals in the first quarter worth about $1,900,000. Vanguard Group Inc. grew its stake in shares of Eyepoint Pharmaceuticals by 27.1% during the 4th quarter. Vanguard Group Inc. now owns 4,822,139 shares of the company’s stock valued at $88,100,000 after purchasing an additional 1,027,623 shares during the period. Finally, Hsbc Holdings PLC bought a new stake in shares of Eyepoint Pharmaceuticals during the 1st quarter valued at about $10,743,000. Institutional investors and hedge funds own 99.41% of the company’s stock.

Eyepoint Pharmaceuticals Stock Performance

EYPT opened at $13.53 on Thursday. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of -3.62 and a beta of 1.76. The company has a fifty day moving average of $13.14 and a 200 day moving average of $13.71. Eyepoint Pharmaceuticals, Inc. has a fifty-two week low of $9.65 and a fifty-two week high of $19.11.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($1.09) EPS for the quarter, missing the consensus estimate of ($1.01) by ($0.08). The company had revenue of $0.51 million for the quarter, compared to the consensus estimate of $0.45 million. Eyepoint Pharmaceuticals had a negative net margin of 10,994.73% and a negative return on equity of 135.81%. On average, equities research analysts forecast that Eyepoint Pharmaceuticals, Inc. will post -3.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on EYPT. Cantor Fitzgerald upped their target price on shares of Eyepoint Pharmaceuticals from $47.00 to $55.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Royal Bank Of Canada decreased their target price on Eyepoint Pharmaceuticals from $39.00 to $37.00 and set an “outperform” rating on the stock in a report on Thursday, May 7th. HC Wainwright cut their price target on Eyepoint Pharmaceuticals from $30.00 to $27.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research report on Friday, July 17th. Finally, Guggenheim reissued a “buy” rating and issued a $68.00 target price on shares of Eyepoint Pharmaceuticals in a report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $44.38.

Eyepoint Pharmaceuticals Profile

Eyepoint Pharmaceuticals, Inc is a biopharmaceutical company focused on the development and commercialization of therapies for the treatment of ocular diseases. The company’s proprietary platform centers on sustained-release formulations designed to improve drug delivery to the posterior segment of the eye, addressing conditions that often require repeated intravitreal injections or intensive topical regimens. Eyepoint’s commercial strategy combines in-house sales and marketing capabilities with targeted partnerships to bring its therapies to ophthalmologists and retina specialists across the United States.

Eyepoint’s lead products include YUTIQ, a fluocinolone acetonide intravitreal implant indicated for the prevention of relapse in non-infectious uveitis affecting the posterior segment of the eye, and DEXYCU, a dexamethasone intraocular suspension approved for postoperative inflammation following ocular surgery.