Jennison Associates LLC Takes Position in EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT)

Jennison Associates LLC acquired a new stake in EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,066,240 shares of the company’s stock, valued at approximately $24,641,000. Jennison Associates LLC owned approximately 2.27% of EyePoint Pharmaceuticals at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. FNY Investment Advisers LLC bought a new position in shares of EyePoint Pharmaceuticals in the fourth quarter valued at approximately $27,000. China Universal Asset Management Co. Ltd. bought a new stake in EyePoint Pharmaceuticals during the fourth quarter worth approximately $94,000. Toth Financial Advisory Corp boosted its holdings in EyePoint Pharmaceuticals by 42.9% during the fourth quarter. Toth Financial Advisory Corp now owns 5,000 shares of the company’s stock worth $116,000 after buying an additional 1,500 shares in the last quarter. Sherbrooke Park Advisers LLC bought a new stake in EyePoint Pharmaceuticals during the third quarter worth approximately $101,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in EyePoint Pharmaceuticals during the third quarter worth approximately $117,000. 99.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. assumed coverage on shares of EyePoint Pharmaceuticals in a report on Monday, January 22nd. They set an “overweight” rating and a $35.00 target price for the company. HC Wainwright reduced their target price on shares of EyePoint Pharmaceuticals from $35.00 to $33.00 and set a “buy” rating for the company in a report on Tuesday, January 16th. Capital One Financial restated an “overweight” rating on shares of EyePoint Pharmaceuticals in a report on Friday, February 16th. Finally, Mizuho raised their price objective on shares of EyePoint Pharmaceuticals from $30.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $34.00.

EyePoint Pharmaceuticals Stock Down 6.3 %

EyePoint Pharmaceuticals stock opened at $16.47 on Thursday. The company has a 50 day moving average price of $23.19 and a 200 day moving average price of $18.60. EyePoint Pharmaceuticals, Inc. has a 52 week low of $5.67 and a 52 week high of $30.99.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last released its earnings results 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 company had revenue of $14.03 million during the quarter, compared to the consensus estimate of $8.71 million. During the same quarter in the prior year, the firm earned ($0.61) EPS. Research analysts predict that EyePoint Pharmaceuticals, Inc. will post -1.73 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Cormorant Asset Management, Lp bought 581,765 shares of the business’s stock in a transaction on 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 transaction, the insider now directly owns 7,475,000 shares in the company, valued at $134,774,250. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, major shareholder Cormorant Asset Management, Lp bought 581,765 shares of the business’s stock in a transaction on 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 transaction, the insider now directly owns 7,475,000 shares in the company, valued at $134,774,250. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Dario A. Paggiarino sold 49,325 shares of the stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $25.66, for a total transaction of $1,265,679.50. Following the completion of the sale, the insider now owns 36,505 shares of the company’s stock, valued at approximately $936,718.30. The disclosure for this sale can be found here. Insiders own 13.05% of the company’s stock.

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.