Cormorant Asset Management, Lp Buys 850,000 Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Stock

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) major shareholder Cormorant Asset Management, Lp purchased 850,000 shares of the stock in a transaction on Monday, May 6th. The stock was acquired at an average price of $11.86 per share, with a total value of $10,081,000.00. Following the acquisition, the insider now directly owns 8,325,000 shares in the company, valued at $98,734,500. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Cormorant Asset Management, Lp also recently made the following trade(s):

• On Thursday, April 18th, Cormorant Asset Management, Lp bought 581,765 shares of EyePoint Pharmaceuticals stock. The stock was bought at an average cost of $18.03 per share, for a total transaction of $10,489,222.95.

EyePoint Pharmaceuticals Price Performance

EYPT opened at $12.67 on Friday. EyePoint Pharmaceuticals, Inc. has a 12-month low of $5.67 and a 12-month high of $30.99. The stock has a market capitalization of $659.90 million, a PE ratio of -6.92 and a beta of 1.70. The firm’s fifty day moving average price is $20.34 and its 200 day moving average price is $19.10.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last issued its earnings results on Thursday, March 7th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.27. The business had revenue of $14.03 million for the quarter, compared to analyst estimates of $8.71 million. EyePoint Pharmaceuticals had a negative net margin of 153.84% and a negative return on equity of 61.48%. During the same quarter in the prior year, the business posted ($0.61) EPS. On average, equities research analysts forecast that EyePoint Pharmaceuticals, Inc. will post -1.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of EYPT. FNY Investment Advisers LLC acquired a new stake in shares of EyePoint Pharmaceuticals during the 4th quarter valued at approximately $27,000. China Universal Asset Management Co. Ltd. bought a new position in shares of EyePoint Pharmaceuticals in the 4th quarter worth about $94,000. Tower Research Capital LLC TRC lifted its position in shares of EyePoint Pharmaceuticals by 36.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,724 shares of the company’s stock worth $109,000 after buying an additional 1,250 shares during the last quarter. Toth Financial Advisory Corp boosted its holdings in shares of EyePoint Pharmaceuticals by 42.9% in the 4th quarter. Toth Financial Advisory Corp now owns 5,000 shares of the company’s stock valued at $116,000 after buying an additional 1,500 shares during the period. Finally, ProShare Advisors LLC bought a new stake in shares of EyePoint Pharmaceuticals during the 1st quarter valued at about $209,000. Institutional investors own 99.41% of the company’s stock.

Analyst Upgrades and Downgrades

EYPT has been the topic of a number of recent analyst reports. Robert W. Baird cut their price target on shares of EyePoint Pharmaceuticals from $46.00 to $38.00 and set an “outperform” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. began coverage on EyePoint Pharmaceuticals in a research report on Monday, January 22nd. They issued an “overweight” rating and a $35.00 target price on the stock. HC Wainwright lowered their price target on EyePoint Pharmaceuticals from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Tuesday, January 16th. StockNews.com lowered EyePoint Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, Chardan Capital reduced their price objective on EyePoint Pharmaceuticals from $39.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $34.14.

About EyePoint Pharmaceuticals

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.