Cyndeo Wealth Partners LLC Buys Shares of 12,540 EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT)

Cyndeo Wealth Partners LLC purchased a new stake in EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) during the third quarter, Holdings Channel.com reports. The firm purchased 12,540 shares of the company’s stock, valued at approximately $100,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of EyePoint Pharmaceuticals by 17.8% in the 1st quarter. Vanguard Group Inc. now owns 2,396,228 shares of the company’s stock valued at $49,530,000 after acquiring an additional 362,168 shares during the period. RA Capital Management L.P. purchased a new position in shares of EyePoint Pharmaceuticals in the 1st quarter valued at $19,401,000. Deerfield Management Company L.P. Series C increased its holdings in shares of EyePoint Pharmaceuticals by 51.4% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 877,790 shares of the company’s stock valued at $7,637,000 after acquiring an additional 298,196 shares during the period. Fiera Capital Corp increased its holdings in shares of EyePoint Pharmaceuticals by 0.9% in the 2nd quarter. Fiera Capital Corp now owns 677,038 shares of the company’s stock valued at $5,890,000 after acquiring an additional 5,920 shares during the period. Finally, Perceptive Advisors LLC increased its holdings in shares of EyePoint Pharmaceuticals by 8.6% in the 2nd quarter. Perceptive Advisors LLC now owns 640,274 shares of the company’s stock valued at $5,570,000 after acquiring an additional 50,628 shares during the period. 99.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on EYPT shares. StockNews.com upgraded EyePoint Pharmaceuticals to a “sell” rating in a report on Saturday, September 21st. Chardan Capital restated a “buy” rating and set a $28.00 target price on shares of EyePoint Pharmaceuticals in a research note on Friday, June 28th. HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of EyePoint Pharmaceuticals in a research note on Thursday, June 27th. Jefferies Financial Group initiated coverage on EyePoint Pharmaceuticals in a research note on Wednesday, August 28th. They set a “buy” rating and a $15.00 target price on the stock. Finally, JPMorgan Chase & Co. dropped their target price on EyePoint Pharmaceuticals from $32.00 to $29.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $29.00.

EyePoint Pharmaceuticals Stock Performance

EyePoint Pharmaceuticals stock opened at $10.75 on Wednesday. The business’s 50-day simple moving average is $8.74 and its two-hundred day simple moving average is $10.83. The company has a market cap of $575.34 million, a PE ratio of -6.01 and a beta of 1.57. EyePoint Pharmaceuticals, Inc. has a fifty-two week low of $5.67 and a fifty-two week high of $30.99.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.03). The firm had revenue of $9.48 million for the quarter, compared to analysts’ expectations of $11.61 million. EyePoint Pharmaceuticals had a negative net margin of 172.29% and a negative return on equity of 43.24%. As a group, analysts predict that EyePoint Pharmaceuticals, Inc. will post -2.33 EPS for the current fiscal 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.