Simplify Asset Management Inc. Cuts Stock Holdings in Eyepoint Pharmaceuticals, Inc. $EYPT

by · The Markets Daily

Simplify Asset Management Inc. lowered its stake in shares of Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT – Free Report) by 13.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 326,142 shares of the company’s stock after selling 49,122 shares during the quarter. Simplify Asset Management Inc. owned 0.39% of Eyepoint Pharmaceuticals worth $4,204,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Suvretta Capital Management LLC lifted its stake in Eyepoint Pharmaceuticals by 26.4% during the 4th quarter. Suvretta Capital Management LLC now owns 7,827,685 shares of the company’s stock valued at $143,012,000 after acquiring an additional 1,634,970 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its stake in shares of Eyepoint Pharmaceuticals by 9.7% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 6,800,000 shares of the company’s stock worth $63,988,000 after acquiring an additional 600,000 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of Eyepoint Pharmaceuticals by 36.3% in the 4th quarter. Federated Hermes Inc. now owns 6,017,433 shares of the company’s stock worth $109,938,000 after acquiring an additional 1,601,101 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Eyepoint Pharmaceuticals by 19.3% in the 4th quarter. Franklin Resources Inc. now owns 4,976,915 shares of the company’s stock worth $90,928,000 after acquiring an additional 805,031 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Eyepoint Pharmaceuticals by 27.1% in the fourth 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 last quarter. 99.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Citigroup upped their price objective on Eyepoint Pharmaceuticals from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research note on Tuesday, April 21st. Guggenheim reissued a “buy” rating and issued a $68.00 price target on shares of Eyepoint Pharmaceuticals in a report on Wednesday, June 24th. Royal Bank Of Canada reduced their price target on shares of Eyepoint Pharmaceuticals from $39.00 to $37.00 and set an “outperform” rating for the company in a research report on Thursday, May 7th. Finally, Chardan Capital raised their price objective on shares of Eyepoint Pharmaceuticals from $29.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Eyepoint Pharmaceuticals has a consensus rating of “Buy” and an average target price of $43.83.

Check Out Our Latest Stock Report on EYPT

Eyepoint Pharmaceuticals Price Performance

Shares of NASDAQ:EYPT opened at $13.98 on Friday. The company’s fifty day moving average price is $13.15 and its 200-day moving average price is $14.49. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of -3.99 and a beta of 1.73. Eyepoint Pharmaceuticals, Inc. has a one year low of $9.40 and a one year high of $19.11.

Eyepoint Pharmaceuticals (NASDAQ:EYPT – Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.79) by ($0.20). Eyepoint Pharmaceuticals had a negative return on equity of 110.54% and a negative net margin of 3,566.63%.The company had revenue of $0.70 million during the quarter, compared to analysts’ expectations of $0.35 million. As a group, equities research analysts expect that Eyepoint Pharmaceuticals, Inc. will post -3.09 EPS for the current year.

Insider Activity at Eyepoint Pharmaceuticals

In related news, insider Ramiro Ribeiro sold 2,437 shares of the firm’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $15.00, for a total transaction of $36,555.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 5.13% of the company’s stock.

Eyepoint Pharmaceuticals Profile

(Free Report)

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.

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