JPMorgan Chase & Co. Buys 23,686 Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT)

JPMorgan Chase & Co. raised its stake in EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) by 6.4% in the 4th quarter, HoldingsChannel reports. The fund owned 395,444 shares of the company’s stock after buying an additional 23,686 shares during the quarter. JPMorgan Chase & Co.’s holdings in EyePoint Pharmaceuticals were worth $2,946,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Corebridge Financial Inc. grew its stake in shares of EyePoint Pharmaceuticals by 21.6% during the fourth quarter. Corebridge Financial Inc. now owns 32,499 shares of the company’s stock valued at $242,000 after purchasing an additional 5,765 shares during the last quarter. Vanguard Group Inc. lifted its holdings in EyePoint Pharmaceuticals by 24.8% during the 4th quarter. Vanguard Group Inc. now owns 3,803,227 shares of the company’s stock worth $28,334,000 after buying an additional 755,045 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in EyePoint Pharmaceuticals in the 4th quarter valued at $59,000. Teacher Retirement System of Texas increased its stake 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 buying an additional 2,782 shares during the period. Finally, Intech Investment Management LLC raised its position in shares of EyePoint Pharmaceuticals by 36.2% during the fourth quarter. Intech Investment Management LLC now owns 23,105 shares of the company’s stock worth $172,000 after acquiring an additional 6,137 shares during the last quarter. 99.41% of the stock is owned by institutional investors.

EyePoint Pharmaceuticals Price Performance

EyePoint Pharmaceuticals stock opened at $6.51 on Wednesday. The firm has a market capitalization of $447.43 million, a price-to-earnings ratio of -3.26 and a beta of 1.39. The company’s 50 day simple moving average is $5.93 and its 200 day simple moving average is $7.79. EyePoint Pharmaceuticals, Inc. has a fifty-two week low of $3.91 and a fifty-two week high of $21.26.

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

Analyst Ratings Changes

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

EyePoint Pharmaceuticals Company 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.