EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Stake Raised by Corebridge Financial Inc.

Corebridge Financial Inc. grew its holdings in EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) by 21.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,499 shares of the company’s stock after purchasing an additional 5,765 shares during the period. Corebridge Financial Inc.’s holdings in EyePoint Pharmaceuticals were worth $242,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in EYPT. Vanguard Group Inc. raised its holdings in shares of EyePoint Pharmaceuticals by 24.8% during the fourth quarter. Vanguard Group Inc. now owns 3,803,227 shares of the company’s stock worth $28,334,000 after acquiring an additional 755,045 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in EyePoint Pharmaceuticals in the fourth quarter valued at approximately $59,000. Teacher Retirement System of Texas increased its stake in shares of EyePoint Pharmaceuticals by 22.4% during the 4th quarter. Teacher Retirement System of Texas now owns 15,192 shares of the company’s stock worth $113,000 after purchasing an additional 2,782 shares during the last quarter. Intech Investment Management LLC raised its holdings in EyePoint Pharmaceuticals by 36.2% during the fourth quarter. Intech Investment Management LLC now owns 23,105 shares of the company’s stock valued at $172,000 after buying an additional 6,137 shares in the last quarter. Finally, Erste Asset Management GmbH bought a new stake in EyePoint Pharmaceuticals during the fourth quarter worth approximately $360,000. 99.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

EYPT has been the subject of several research analyst reports. HC Wainwright reissued a “buy” rating and set a $22.00 price objective on shares of EyePoint Pharmaceuticals in a research report on Thursday, March 6th. Citigroup started coverage on EyePoint Pharmaceuticals in a research report on Tuesday, January 7th. They issued a “buy” rating and a $33.00 price objective for the company. StockNews.com upgraded shares of EyePoint Pharmaceuticals to a “sell” rating in a research note on Friday, March 14th. Finally, Chardan Capital reiterated a “buy” rating and set a $33.00 target price on shares of EyePoint Pharmaceuticals in a research note on Thursday, March 6th. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $26.63.

EyePoint Pharmaceuticals Price Performance

Shares of EYPT stock opened at $5.38 on Friday. The stock has a market cap of $369.76 million, a P/E ratio of -2.69 and a beta of 1.39. EyePoint Pharmaceuticals, Inc. has a one year low of $3.91 and a one year high of $23.65. The stock has a fifty day moving average price of $6.04 and a 200 day moving average price of $7.91.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last announced its quarterly earnings results on Wednesday, March 5th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.54) by ($0.10). The firm had revenue of $11.60 million for the quarter, compared to the consensus estimate of $11.02 million. EyePoint Pharmaceuticals had a negative net margin of 226.57% and a negative return on equity of 43.01%. Equities research analysts anticipate that EyePoint Pharmaceuticals, Inc. will post -2.13 EPS for the current year.

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.