Charles Schwab Investment Management Inc. Increases Position in EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT)

Charles Schwab Investment Management Inc. grew its holdings in shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Free Report) by 33.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 191,165 shares of the company's stock after purchasing an additional 48,402 shares during the period. Charles Schwab Investment Management Inc. owned about 0.28% of EyePoint Pharmaceuticals worth $1,424,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Patient Square Capital LP purchased a new stake in EyePoint Pharmaceuticals during the 3rd quarter worth approximately $10,882,000. Franklin Resources Inc. increased its position in shares of EyePoint Pharmaceuticals by 9.9% during the third quarter. Franklin Resources Inc. now owns 4,012,048 shares of the company's stock worth $32,056,000 after acquiring an additional 362,399 shares during the period. JPMorgan Chase & Co. raised its stake in shares of EyePoint Pharmaceuticals by 1,171.3% in the third quarter. JPMorgan Chase & Co. now owns 371,758 shares of the company's stock valued at $2,970,000 after acquiring an additional 342,516 shares in the last quarter. abrdn plc purchased a new position in EyePoint Pharmaceuticals in the fourth quarter valued at $1,719,000. Finally, Barclays PLC grew its stake in EyePoint Pharmaceuticals by 410.4% during the 3rd quarter. Barclays PLC now owns 245,045 shares of the company's stock worth $1,959,000 after purchasing an additional 197,033 shares in the last quarter. Institutional investors and hedge funds own 99.41% of the company's stock.

Wall Street Analyst Weigh In

EYPT has been the subject of several recent research reports. StockNews.com upgraded EyePoint Pharmaceuticals to a "sell" rating in a research note on Friday, March 14th. Citigroup initiated coverage on shares of EyePoint Pharmaceuticals in a report on Tuesday, January 7th. They set a "buy" rating and a $33.00 price target for the company. HC Wainwright restated a "buy" rating and issued a $22.00 price objective on shares of EyePoint Pharmaceuticals in a report on Thursday, March 6th. Finally, Chardan Capital reiterated a "buy" rating and set a $33.00 target price on shares of EyePoint Pharmaceuticals in a research note on Thursday, March 6th. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $26.63.

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EyePoint Pharmaceuticals Stock Up 6.3 %

EYPT traded up $0.32 on Wednesday, reaching $5.37. The company had a trading volume of 1,081,575 shares, compared to its average volume of 892,352. The stock has a 50-day moving average price of $6.63 and a 200-day moving average price of $8.16. The stock has a market capitalization of $369.07 million, a PE ratio of -2.69 and a beta of 1.41. EyePoint Pharmaceuticals, Inc. has a 1 year low of $4.92 and a 1 year high of $23.65.

EyePoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last announced its 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 firm had revenue of $11.60 million during the quarter, compared to analyst estimates 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, analysts expect that EyePoint Pharmaceuticals, Inc. will post -2.13 earnings per share for the current fiscal year.

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.