Spruce Street Capital LP Invests $17.93 Million in Eyepoint Pharmaceuticals, Inc. $EYPT

Spruce Street Capital LP acquired a new position in shares of Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 981,543 shares of the company’s stock, valued at approximately $17,933,000. Eyepoint Pharmaceuticals makes up approximately 5.9% of Spruce Street Capital LP’s investment portfolio, making the stock its 7th largest holding.

Other institutional investors and hedge funds have also made changes to their positions in the company. Adage Capital Partners GP L.L.C. lifted its stake in Eyepoint Pharmaceuticals by 9.7% during the second quarter. Adage Capital Partners GP L.L.C. now owns 6,800,000 shares of the company’s stock worth $63,988,000 after purchasing an additional 600,000 shares during the last quarter. Federated Hermes Inc. lifted its stake in Eyepoint Pharmaceuticals by 36.3% during the fourth quarter. Federated Hermes Inc. now owns 6,017,433 shares of the company’s stock worth $109,938,000 after purchasing an additional 1,601,101 shares during the last quarter. Franklin Resources Inc. lifted its stake in Eyepoint Pharmaceuticals by 19.3% during the fourth quarter. Franklin Resources Inc. now owns 4,976,915 shares of the company’s stock worth $90,928,000 after purchasing an additional 805,031 shares during the last quarter. Vanguard Group Inc. lifted its stake in Eyepoint Pharmaceuticals by 27.1% during the fourth quarter. Vanguard Group Inc. now owns 4,822,139 shares of the company’s stock worth $88,100,000 after purchasing an additional 1,027,623 shares during the last quarter. Finally, Paradigm Biocapital Advisors LP purchased a new stake in Eyepoint Pharmaceuticals during the third quarter worth approximately $28,556,000. 99.41% of the stock is owned by institutional investors and hedge funds.

Eyepoint Pharmaceuticals Trading Down 7.3%

Shares of NASDAQ EYPT opened at $12.08 on Tuesday. Eyepoint Pharmaceuticals, Inc. has a twelve month low of $7.94 and a twelve month high of $19.11. The stock has a 50 day moving average of $13.29 and a two-hundred day moving average of $14.68. The stock has a market cap of $1.01 billion, a P/E ratio of -3.45 and a beta of 1.72.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.99) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.20). Eyepoint Pharmaceuticals had a negative net margin of 3,566.63% and a negative return on equity of 110.54%. The firm had revenue of $0.70 million during the quarter, compared to analysts’ expectations of $0.35 million. As a group, research analysts predict that Eyepoint Pharmaceuticals, Inc. will post -3.09 earnings per share for the current year.

Insiders Place Their Bets

In other Eyepoint Pharmaceuticals news, insider Ramiro Ribeiro sold 2,437 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $15.00, for a total value of $36,555.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on EYPT shares. Weiss Ratings restated a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research note on Tuesday, April 21st. HC Wainwright boosted their target price on Eyepoint Pharmaceuticals from $23.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Royal Bank Of Canada decreased their target price on Eyepoint Pharmaceuticals from $39.00 to $37.00 and set an “outperform” rating for the company in a research note on Thursday, May 7th. Citigroup boosted their target price on Eyepoint Pharmaceuticals from $31.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, March 9th. Finally, Chardan Capital boosted their target price on Eyepoint Pharmaceuticals from $27.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $31.80.

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.