Adage Capital Partners GP L.L.C. Grows Stock Holdings in EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT)

Adage Capital Partners GP L.L.C. grew its position in shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Free Report) by 51.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,750,000 shares of the company's stock after purchasing an additional 1,958,580 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 8.42% of EyePoint Pharmaceuticals worth $42,838,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Franklin Resources Inc. grew its position in EyePoint Pharmaceuticals by 3.1% in the 4th quarter. Franklin Resources Inc. now owns 4,137,567 shares of the company's stock worth $30,825,000 after purchasing an additional 125,519 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of EyePoint Pharmaceuticals by 24.8% in the fourth quarter. Vanguard Group Inc. now owns 3,803,227 shares of the company's stock valued at $28,334,000 after acquiring an additional 755,045 shares in the last quarter. Federated Hermes Inc. increased its position in shares of EyePoint Pharmaceuticals by 92.7% during the fourth quarter. Federated Hermes Inc. now owns 3,707,445 shares of the company's stock valued at $27,620,000 after acquiring an additional 1,783,765 shares during the last quarter. Geode Capital Management LLC lifted its holdings in EyePoint Pharmaceuticals by 28.3% during the fourth quarter. Geode Capital Management LLC now owns 1,538,902 shares of the company's stock worth $11,467,000 after acquiring an additional 339,846 shares during the period. Finally, Finepoint Capital LP boosted its position in EyePoint Pharmaceuticals by 57.1% in the fourth quarter. Finepoint Capital LP now owns 1,111,104 shares of the company's stock worth $8,278,000 after purchasing an additional 403,700 shares during the last quarter. Institutional investors and hedge funds own 99.41% of the company's stock.

Analysts Set New Price Targets

EYPT has been the topic of a number of research reports. HC Wainwright reaffirmed a "buy" rating and issued a $22.00 price target on shares of EyePoint Pharmaceuticals in a report on Thursday, March 6th. StockNews.com upgraded EyePoint Pharmaceuticals to a "sell" rating in a research report on Friday, March 14th. Chardan Capital reissued a "buy" rating and set a $33.00 price objective on shares of EyePoint Pharmaceuticals in a research note on Thursday, March 6th. Finally, Citigroup started coverage on EyePoint Pharmaceuticals in a report on Tuesday, January 7th. They set a "buy" rating and a $33.00 price objective for the company. One analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $26.63.

EyePoint Pharmaceuticals Stock Up 6.4 %

Shares of NASDAQ EYPT traded up $0.41 during midday trading on Monday, reaching $6.78. The company had a trading volume of 818,679 shares, compared to its average volume of 888,895. The stock has a market cap of $465.98 million, a PE ratio of -3.39 and a beta of 1.39. EyePoint Pharmaceuticals, Inc. has a one year low of $3.91 and a one year high of $21.26. The firm's fifty day moving average price is $5.93 and its 200-day moving average price is $7.75.

EyePoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last announced its quarterly earnings results on Wednesday, March 5th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.54) by ($0.10). The business had revenue of $11.60 million for the quarter, compared to analysts' expectations of $11.02 million. EyePoint Pharmaceuticals had a negative net margin of 226.57% and a negative return on equity of 43.01%. As a group, equities research analysts expect that EyePoint Pharmaceuticals, Inc. will post -2.13 EPS for the current year.

EyePoint Pharmaceuticals 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.