Mirae Asset Global Investments Co. Ltd. Purchases 882 Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT)

Mirae Asset Global Investments Co. Ltd. boosted its position in shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) by 6.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,584 shares of the company’s stock after purchasing an additional 882 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in EyePoint Pharmaceuticals were worth $360,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in EYPT. Bank of New York Mellon Corp lifted its holdings in EyePoint Pharmaceuticals by 11.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 115,690 shares of the company’s stock valued at $924,000 after purchasing an additional 12,309 shares during the last quarter. Strs Ohio bought a new position in EyePoint Pharmaceuticals during the 3rd quarter valued at about $196,000. TD Asset Management Inc bought a new position in EyePoint Pharmaceuticals during the 3rd quarter valued at about $574,000. Jump Financial LLC lifted its holdings in EyePoint Pharmaceuticals by 318.5% during the 3rd quarter. Jump Financial LLC now owns 48,968 shares of the company’s stock valued at $391,000 after purchasing an additional 37,268 shares during the last quarter. Finally, Barclays PLC increased its position in EyePoint Pharmaceuticals by 103.4% in the 3rd quarter. Barclays PLC now owns 45,659 shares of the company’s stock valued at $365,000 after acquiring an additional 23,208 shares in the last quarter. 99.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

EYPT has been the subject of several research reports. Mizuho raised their price objective on shares of EyePoint Pharmaceuticals from $30.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Capital One Financial restated an “overweight” rating on shares of EyePoint Pharmaceuticals in a research report on Friday, February 16th. HC Wainwright lowered their price objective on shares of EyePoint Pharmaceuticals from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Tuesday, January 16th. Finally, JPMorgan Chase & Co. began coverage on shares of EyePoint Pharmaceuticals in a research report on Monday, January 22nd. They issued an “overweight” rating and a $35.00 price objective for the company. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $34.00.

EyePoint Pharmaceuticals Price Performance

Shares of NASDAQ:EYPT opened at $16.75 on Friday. EyePoint Pharmaceuticals, Inc. has a one year low of $5.67 and a one year high of $30.99. The company has a 50 day moving average of $22.68 and a 200-day moving average of $18.57. The stock has a market cap of $834.65 million, a price-to-earnings ratio of -9.15 and a beta of 1.64.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last issued its quarterly earnings results on Thursday, March 7th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.60) by $0.27. EyePoint Pharmaceuticals had a negative net margin of 153.84% and a negative return on equity of 61.48%. The company had revenue of $14.03 million during the quarter, compared to analysts’ expectations of $8.71 million. During the same quarter in the previous year, the company earned ($0.61) EPS. Equities research analysts anticipate that EyePoint Pharmaceuticals, Inc. will post -1.73 earnings per share for the current year.

Insider Activity at EyePoint Pharmaceuticals

In other news, major shareholder Cormorant Asset Management, Lp acquired 581,765 shares of the firm’s stock in a transaction that occurred on Thursday, April 18th. The stock was purchased at an average price of $18.03 per share, for a total transaction of $10,489,222.95. Following the completion of the acquisition, the insider now owns 7,475,000 shares in the company, valued at $134,774,250. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 13.05% of the company’s stock.

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.