Simplify Asset Management Inc. Decreases Position in Eyepoint Pharmaceuticals, Inc. $EYPT

Simplify Asset Management Inc. cut its holdings in Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) by 13.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 326,142 shares of the company’s stock after selling 49,122 shares during the period. Simplify Asset Management Inc.’s holdings in Eyepoint Pharmaceuticals were worth $4,204,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in EYPT. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Eyepoint Pharmaceuticals by 51.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,023 shares of the company’s stock worth $74,000 after buying an additional 1,358 shares during the period. California State Teachers Retirement System boosted its holdings in Eyepoint Pharmaceuticals by 20.6% during the 4th quarter. California State Teachers Retirement System now owns 4,654 shares of the company’s stock valued at $85,000 after acquiring an additional 794 shares during the period. Russell Investments Group Ltd. purchased a new stake in Eyepoint Pharmaceuticals during the 3rd quarter valued at about $76,000. Persistent Asset Partners Ltd bought a new position in Eyepoint Pharmaceuticals during the 4th quarter worth approximately $98,000. Finally, Tower Research Capital LLC TRC grew its position in Eyepoint Pharmaceuticals by 218.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,700 shares of the company’s stock worth $82,000 after acquiring an additional 5,967 shares during the last quarter. 99.41% of the stock is currently owned by hedge funds and other institutional investors.

Eyepoint Pharmaceuticals Price Performance

NASDAQ:EYPT opened at $13.98 on Friday. The firm’s 50-day moving average price is $13.15 and its 200-day moving average price is $14.49. The company has a market capitalization of $1.17 billion, a PE ratio of -3.99 and a beta of 1.73. Eyepoint Pharmaceuticals, Inc. has a 1-year low of $9.40 and a 1-year high of $19.11.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last issued its quarterly 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 business had revenue of $0.70 million for the quarter, compared to analysts’ expectations of $0.35 million. Equities analysts anticipate that Eyepoint Pharmaceuticals, Inc. will post -3.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on EYPT. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research report on Tuesday, April 21st. Guggenheim restated a “buy” rating and issued a $68.00 target price on shares of Eyepoint Pharmaceuticals in a report on Wednesday, June 24th. Chardan Capital lifted their target price on shares of Eyepoint Pharmaceuticals from $29.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday. Citigroup upped their price target on shares of Eyepoint Pharmaceuticals from $31.00 to $35.00 and gave the company a “buy” rating in a report on Monday, March 9th. Finally, Royal Bank Of Canada dropped their price target on shares of Eyepoint Pharmaceuticals from $39.00 to $37.00 and set an “outperform” rating for the company in a research report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $43.83.

Insider Buying and Selling at Eyepoint Pharmaceuticals

In other news, insider Ramiro Ribeiro sold 2,437 shares of Eyepoint Pharmaceuticals stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $15.00, for a total transaction of $36,555.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 5.13% of the company’s stock.

Eyepoint Pharmaceuticals 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.