Renaissance Technologies LLC Acquires 55,700 Shares of Eyepoint Pharmaceuticals, Inc. $EYPT

Renaissance Technologies LLC raised its holdings in shares of Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) by 90.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 117,300 shares of the company’s stock after purchasing an additional 55,700 shares during the quarter. Renaissance Technologies LLC’s holdings in Eyepoint Pharmaceuticals were worth $1,512,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Rhumbline Advisers increased its holdings in shares of Eyepoint Pharmaceuticals by 11.0% in the 2nd quarter. Rhumbline Advisers now owns 96,280 shares of the company’s stock worth $906,000 after buying an additional 9,548 shares during the last quarter. American Century Companies Inc. grew its position in Eyepoint Pharmaceuticals by 57.8% in the second quarter. American Century Companies Inc. now owns 67,612 shares of the company’s stock worth $636,000 after acquiring an additional 24,752 shares in the last quarter. Invesco Ltd. grew its position in Eyepoint Pharmaceuticals by 199.8% in the second quarter. Invesco Ltd. now owns 128,772 shares of the company’s stock worth $1,212,000 after acquiring an additional 85,824 shares in the last quarter. Raymond James Financial Inc. increased its stake in Eyepoint Pharmaceuticals by 11.0% during the second quarter. Raymond James Financial Inc. now owns 11,900 shares of the company’s stock worth $112,000 after acquiring an additional 1,177 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. increased 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 acquiring an additional 600,000 shares during the last quarter. 99.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on EYPT shares. Guggenheim reaffirmed a “buy” rating and issued a $68.00 price objective on shares of Eyepoint Pharmaceuticals in a research note on Wednesday, June 24th. Royal Bank Of Canada decreased their price target on Eyepoint Pharmaceuticals from $39.00 to $37.00 and set an “outperform” rating on the stock in a report on Thursday, May 7th. HC Wainwright lowered their price target on Eyepoint Pharmaceuticals from $30.00 to $27.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Chardan Capital reaffirmed a “buy” rating and set a $65.00 price objective on shares of Eyepoint Pharmaceuticals in a research note on Friday, August 7th. Finally, Stifel Nicolaus initiated coverage on shares of Eyepoint Pharmaceuticals in a research report on Thursday, July 16th. They set a “buy” rating and a $40.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Eyepoint Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $44.38.

Eyepoint Pharmaceuticals Stock Performance

EYPT opened at $13.53 on Thursday. The stock’s 50 day moving average price is $13.14 and its 200-day moving average price is $13.71. Eyepoint Pharmaceuticals, Inc. has a one year low of $9.65 and a one year high of $19.11. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of -3.62 and a beta of 1.76.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($1.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.08). Eyepoint Pharmaceuticals had a negative return on equity of 135.81% and a negative net margin of 10,994.73%.The business had revenue of $0.51 million for the quarter, compared to the consensus estimate of $0.45 million. As a group, analysts predict that Eyepoint Pharmaceuticals, Inc. will post -3.46 earnings per share for the current fiscal year.

Eyepoint Pharmaceuticals Company Profile

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.