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

Granahan Investment Management LLC lessened its stake in Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) by 19.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 297,108 shares of the company’s stock after selling 69,567 shares during the quarter. Granahan Investment Management LLC owned 0.35% of Eyepoint Pharmaceuticals worth $3,830,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. KBC Group NV purchased a new position in Eyepoint Pharmaceuticals in the first quarter worth approximately $29,000. Mirae Asset Global Investments Co. Ltd. raised 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. California State Teachers Retirement System lifted its position in shares of Eyepoint Pharmaceuticals by 20.6% during the 4th quarter. California State Teachers Retirement System now owns 4,654 shares of the company’s stock worth $85,000 after purchasing an additional 794 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Eyepoint Pharmaceuticals during the third quarter worth $76,000. Finally, Persistent Asset Partners Ltd purchased a new position in Eyepoint Pharmaceuticals in the fourth quarter valued at $98,000. 99.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on EYPT. Guggenheim reiterated a “buy” rating and issued a $68.00 price objective on shares of Eyepoint Pharmaceuticals in a report on Wednesday, June 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research note on Friday, July 17th. Cantor Fitzgerald initiated coverage on Eyepoint Pharmaceuticals in a report on Wednesday, July 8th. They issued an “overweight” rating and a $47.00 price target for the company. Royal Bank Of Canada cut their price objective on shares of Eyepoint Pharmaceuticals from $39.00 to $37.00 and set an “outperform” rating on the stock in a report on Thursday, May 7th. Finally, Chardan Capital boosted their price objective on shares of Eyepoint Pharmaceuticals from $29.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $43.75.

Eyepoint Pharmaceuticals Stock Performance

EYPT opened at $12.19 on Friday. Eyepoint Pharmaceuticals, Inc. has a one year low of $9.40 and a one year high of $19.11. The stock has a market capitalization of $1.02 billion, a P/E ratio of -3.48 and a beta of 1.73. The business’s 50-day simple moving average is $13.19 and its 200-day simple moving average is $14.05.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last announced its earnings results on Wednesday, May 6th. The company reported ($0.99) earnings per share (EPS) 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 analyst estimates of $0.35 million. On average, equities research analysts forecast that Eyepoint Pharmaceuticals, Inc. will post -3.3 EPS 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.