Point72 Asset Management L.P. Sells 179,451 Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT)

Point72 Asset Management L.P. cut its stake in EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) by 28.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 451,318 shares of the company’s stock after selling 179,451 shares during the period. Point72 Asset Management L.P.’s holdings in EyePoint Pharmaceuticals were worth $3,606,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. boosted its holdings in shares of EyePoint Pharmaceuticals by 68.2% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 10,293 shares of the company’s stock worth $82,000 after purchasing an additional 4,172 shares in the last quarter. Greenwich Wealth Management LLC lifted its position in EyePoint Pharmaceuticals by 8.3% in the 3rd quarter. Greenwich Wealth Management LLC now owns 11,700 shares of the company’s stock worth $93,000 after buying an additional 900 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in EyePoint Pharmaceuticals by 271.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,888 shares of the company’s stock worth $95,000 after buying an additional 7,953 shares during the last quarter. Cyndeo Wealth Partners LLC purchased a new stake in EyePoint Pharmaceuticals in the third quarter worth approximately $100,000. Finally, Arizona State Retirement System grew its position in EyePoint Pharmaceuticals by 9.7% during the second quarter. Arizona State Retirement System now owns 13,251 shares of the company’s stock valued at $115,000 after acquiring an additional 1,171 shares during the last quarter. Institutional investors own 99.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on EYPT shares. JPMorgan Chase & Co. lowered their price objective on shares of EyePoint Pharmaceuticals from $32.00 to $29.00 and set an “overweight” rating for the company in a report on Tuesday, August 13th. Jefferies Financial Group began coverage on shares of EyePoint Pharmaceuticals in a research note on Wednesday, August 28th. They issued a “buy” rating and a $15.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and set a $22.00 price objective on shares of EyePoint Pharmaceuticals in a research note on Thursday. Robert W. Baird dropped their target price on EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Finally, Scotiabank initiated coverage on EyePoint Pharmaceuticals in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $18.00 price target on the stock. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $28.00.

EyePoint Pharmaceuticals Stock Performance

NASDAQ EYPT opened at $8.71 on Monday. The stock has a market cap of $594.47 million, a P/E ratio of -4.36 and a beta of 1.45. EyePoint Pharmaceuticals, Inc. has a fifty-two week low of $7.40 and a fifty-two week high of $30.99. The stock has a 50 day simple moving average of $9.81 and a two-hundred day simple moving average of $9.29.

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.