abrdn plc Purchases Shares of 230,745 EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT)

abrdn plc acquired a new position in shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 230,745 shares of the company’s stock, valued at approximately $1,719,000. abrdn plc owned 0.34% of EyePoint Pharmaceuticals at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in EYPT. Franklin Resources Inc. lifted its position in EyePoint Pharmaceuticals by 9.9% in the third quarter. Franklin Resources Inc. now owns 4,012,048 shares of the company’s stock worth $32,056,000 after purchasing an additional 362,399 shares during the period. Patient Square Capital LP bought a new stake in shares of EyePoint Pharmaceuticals in the 3rd quarter worth $10,882,000. Geode Capital Management LLC lifted its holdings in shares of EyePoint Pharmaceuticals by 16.1% in the third quarter. Geode Capital Management LLC now owns 1,199,056 shares of the company’s stock valued at $9,583,000 after buying an additional 166,699 shares during the period. JPMorgan Chase & Co. boosted its stake in EyePoint Pharmaceuticals by 1,171.3% during the third quarter. JPMorgan Chase & Co. now owns 371,758 shares of the company’s stock valued at $2,970,000 after buying an additional 342,516 shares in the last quarter. Finally, Barclays PLC grew its holdings in EyePoint Pharmaceuticals by 410.4% during the third quarter. Barclays PLC now owns 245,045 shares of the company’s stock worth $1,959,000 after acquiring an additional 197,033 shares during the period. 99.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

EYPT has been the subject of a number of research reports. Robert W. Baird reduced their target price on shares of EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Scotiabank initiated coverage on EyePoint Pharmaceuticals in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $18.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and set a $22.00 target price on shares of EyePoint Pharmaceuticals in a research report on Thursday, December 5th. Citigroup began coverage on EyePoint Pharmaceuticals in a research report on Tuesday, January 7th. They issued a “buy” rating and a $33.00 price target for the company. Finally, Chardan Capital restated a “buy” rating and set a $33.00 price objective on shares of EyePoint Pharmaceuticals in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $26.63.

EyePoint Pharmaceuticals Stock Down 3.4 %

Shares of NASDAQ:EYPT opened at $6.27 on Tuesday. The firm has a market cap of $427.93 million, a price-to-earnings ratio of -3.14 and a beta of 1.51. EyePoint Pharmaceuticals, Inc. has a 12 month low of $5.90 and a 12 month high of $30.78. The company’s fifty day simple moving average is $7.82 and its 200 day simple moving average is $8.77.

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.