Geode Capital Management LLC Purchases 339,846 Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT)

Geode Capital Management LLC grew its position in EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) by 28.3% during the 4th quarter, HoldingsChannel reports. The firm owned 1,538,902 shares of the company’s stock after purchasing an additional 339,846 shares during the quarter. Geode Capital Management LLC’s holdings in EyePoint Pharmaceuticals were worth $11,467,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. KLP Kapitalforvaltning AS acquired a new stake in EyePoint Pharmaceuticals during the 4th quarter worth $59,000. AlphaQuest LLC increased its holdings in shares of EyePoint Pharmaceuticals by 13,246.6% in the fourth quarter. AlphaQuest LLC now owns 9,743 shares of the company’s stock worth $73,000 after acquiring an additional 9,670 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of EyePoint Pharmaceuticals during the fourth quarter worth about $76,000. China Universal Asset Management Co. Ltd. raised its position in shares of EyePoint Pharmaceuticals by 40.6% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 14,472 shares of the company’s stock worth $108,000 after purchasing an additional 4,179 shares during the period. Finally, Teacher Retirement System of Texas grew its position in shares of EyePoint Pharmaceuticals by 22.4% in the 4th quarter. Teacher Retirement System of Texas now owns 15,192 shares of the company’s stock valued at $113,000 after purchasing an additional 2,782 shares during the period. 99.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on EYPT. StockNews.com raised shares of EyePoint Pharmaceuticals to a “sell” rating in a research note on Friday, March 14th. Citigroup started coverage on EyePoint Pharmaceuticals in a report on Tuesday, January 7th. They set a “buy” rating and a $33.00 target price for the company. HC Wainwright restated a “buy” rating and issued a $22.00 price target on shares of EyePoint Pharmaceuticals in a report on Thursday, March 6th. Finally, Chardan Capital reiterated a “buy” rating and set a $33.00 price objective on shares of EyePoint Pharmaceuticals in a report on Thursday, March 6th. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $26.63.

EyePoint Pharmaceuticals Price Performance

Shares of NASDAQ EYPT opened at $6.51 on Wednesday. EyePoint Pharmaceuticals, Inc. has a fifty-two week low of $3.91 and a fifty-two week high of $21.26. The stock has a market capitalization of $447.43 million, a price-to-earnings ratio of -3.26 and a beta of 1.39. The business has a 50-day moving average of $5.93 and a 200-day moving average of $7.79.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last posted its quarterly earnings results on Wednesday, March 5th. The company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.10). EyePoint Pharmaceuticals had a negative net margin of 226.57% and a negative return on equity of 43.01%. The company had revenue of $11.60 million during the quarter, compared to the consensus estimate of $11.02 million. On average, sell-side analysts expect 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.