Eyepoint Pharmaceuticals, Inc. $EYPT Shares Sold by Granahan Investment Management LLC

Granahan Investment Management LLC decreased its holdings in Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) by 19.0% in the 1st quarter, HoldingsChannel reports. The fund owned 297,108 shares of the company’s stock after selling 69,567 shares during the quarter. Granahan Investment Management LLC’s holdings in Eyepoint Pharmaceuticals were worth $3,830,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. KBC Group NV purchased a new stake in shares of Eyepoint Pharmaceuticals during the 1st quarter worth $29,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Eyepoint Pharmaceuticals by 51.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,023 shares of the company’s stock valued at $74,000 after purchasing an additional 1,358 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Eyepoint Pharmaceuticals in the 3rd quarter valued at about $76,000. Tower Research Capital LLC TRC lifted its stake in shares of Eyepoint Pharmaceuticals by 218.3% in the second quarter. Tower Research Capital LLC TRC now owns 8,700 shares of the company’s stock valued at $82,000 after purchasing an additional 5,967 shares during the period. Finally, California State Teachers Retirement System lifted its stake in shares of Eyepoint Pharmaceuticals by 20.6% in the fourth quarter. California State Teachers Retirement System now owns 4,654 shares of the company’s stock valued at $85,000 after purchasing an additional 794 shares during the period. Institutional investors and hedge funds own 99.41% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on EYPT. Royal Bank Of Canada lowered their target price on shares of Eyepoint Pharmaceuticals from $39.00 to $37.00 and set an “outperform” rating on the stock in a research report on Thursday, May 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research report on Friday, July 17th. Chardan Capital boosted their price target on Eyepoint Pharmaceuticals from $29.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. Guggenheim restated a “buy” rating and issued a $68.00 price target on shares of Eyepoint Pharmaceuticals in a report on Wednesday, June 24th. Finally, Stifel Nicolaus initiated coverage on Eyepoint Pharmaceuticals in a research note on Thursday, July 16th. They issued a “buy” rating and a $40.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.75.

Eyepoint Pharmaceuticals Price Performance

Shares of EYPT opened at $12.19 on Friday. Eyepoint Pharmaceuticals, Inc. has a 1-year low of $9.40 and a 1-year high of $19.11. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of -3.48 and a beta of 1.73. The firm has a 50 day simple moving average of $13.19 and a 200-day simple moving average of $14.05.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.99) EPS for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.20). The company had revenue of $0.70 million for the quarter, compared to analyst estimates of $0.35 million. Eyepoint Pharmaceuticals had a negative net margin of 3,566.63% and a negative return on equity of 110.54%. On average, equities analysts expect that Eyepoint Pharmaceuticals, Inc. will post -3.3 earnings per share for the current fiscal year.

About Eyepoint Pharmaceuticals

Eyepoint Pharmaceuticals, Inc is a biopharmaceutical company focused on the development and commercialization of therapies for the treatment of ocular diseases. The company’s proprietary platform centers on sustained-release formulations designed to improve drug delivery to the posterior segment of the eye, addressing conditions that often require repeated intravitreal injections or intensive topical regimens. Eyepoint’s commercial strategy combines in-house sales and marketing capabilities with targeted partnerships to bring its therapies to ophthalmologists and retina specialists across the United States.

Eyepoint’s lead products include YUTIQ, a fluocinolone acetonide intravitreal implant indicated for the prevention of relapse in non-infectious uveitis affecting the posterior segment of the eye, and DEXYCU, a dexamethasone intraocular suspension approved for postoperative inflammation following ocular surgery.