Franklin Resources Inc. Buys 362,399 Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT)

Franklin Resources Inc. increased its stake in shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) by 9.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,012,048 shares of the company’s stock after acquiring an additional 362,399 shares during the quarter. Franklin Resources Inc. owned approximately 5.88% of EyePoint Pharmaceuticals worth $32,056,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of EYPT. China Universal Asset Management Co. Ltd. boosted its position in shares of EyePoint Pharmaceuticals by 68.2% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 10,293 shares of the company’s stock worth $82,000 after purchasing an additional 4,172 shares in the last quarter. Greenwich Wealth Management LLC grew its stake in EyePoint Pharmaceuticals by 8.3% in the third quarter. Greenwich Wealth Management LLC now owns 11,700 shares of the company’s stock valued at $93,000 after acquiring an additional 900 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of EyePoint Pharmaceuticals by 271.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,888 shares of the company’s stock valued at $95,000 after acquiring an additional 7,953 shares in the last quarter. Cyndeo Wealth Partners LLC bought a new stake in shares of EyePoint Pharmaceuticals during the third quarter valued at approximately $100,000. Finally, Arizona State Retirement System raised its position in shares of EyePoint Pharmaceuticals by 9.7% during the second quarter. Arizona State Retirement System now owns 13,251 shares of the company’s stock worth $115,000 after purchasing an additional 1,171 shares during the period. 99.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. StockNews.com upgraded shares of EyePoint Pharmaceuticals to a “sell” rating in a research note on Saturday, September 21st. Robert W. Baird decreased their target price on shares of EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating for the company in a research report on Monday, November 11th. Jefferies Financial Group initiated coverage on shares of EyePoint Pharmaceuticals in a research report on Wednesday, August 28th. They issued a “buy” rating and a $15.00 price target on the stock. HC Wainwright reissued a “buy” rating and set a $22.00 price objective on shares of EyePoint Pharmaceuticals in a report on Thursday, December 5th. Finally, Chardan Capital increased their price objective on EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $25.71.

EyePoint Pharmaceuticals Stock Down 7.2 %

EyePoint Pharmaceuticals stock opened at $7.44 on Thursday. The stock has a market cap of $507.79 million, a P/E ratio of -3.72 and a beta of 1.45. The company’s 50 day moving average price is $9.76 and its two-hundred day moving average price is $9.13. EyePoint Pharmaceuticals, Inc. has a 52 week low of $7.21 and a 52 week high of $30.99.

EyePoint Pharmaceuticals 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.