Franklin Resources Inc. Raises Position in EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT)

Franklin Resources Inc. raised its holdings in EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Free Report) by 9.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,012,048 shares of the company's stock after acquiring an additional 362,399 shares during the quarter. Franklin Resources Inc. owned 5.88% of EyePoint Pharmaceuticals worth $32,056,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also modified their holdings of EYPT. Greenwich Wealth Management LLC boosted its position in shares of EyePoint Pharmaceuticals by 8.3% in the third quarter. Greenwich Wealth Management LLC now owns 11,700 shares of the company's stock worth $93,000 after buying an additional 900 shares during the period. Arizona State Retirement System raised its holdings in shares of EyePoint Pharmaceuticals by 9.7% during the second quarter. Arizona State Retirement System now owns 13,251 shares of the company's stock worth $115,000 after purchasing an additional 1,171 shares during the period. China Universal Asset Management Co. Ltd. grew its holdings in shares of EyePoint Pharmaceuticals by 68.2% during the third quarter. China Universal Asset Management Co. Ltd. now owns 10,293 shares of the company's stock valued at $82,000 after purchasing an additional 4,172 shares during the last quarter. Fiera Capital Corp lifted its stake in EyePoint Pharmaceuticals by 0.9% in the second quarter. Fiera Capital Corp now owns 677,038 shares of the company's stock valued at $5,890,000 after buying an additional 5,920 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of EyePoint Pharmaceuticals by 271.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,888 shares of the company's stock worth $95,000 after buying an additional 7,953 shares during the period. Institutional investors and hedge funds own 99.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on EYPT shares. StockNews.com raised shares of EyePoint Pharmaceuticals to a "sell" rating in a research note on Saturday, September 21st. Jefferies Financial Group began coverage on EyePoint Pharmaceuticals in a report on Wednesday, August 28th. They set a "buy" rating and a $15.00 price objective for the company. Chardan Capital boosted their price target on EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. Scotiabank started coverage on EyePoint Pharmaceuticals in a research report on Wednesday, October 16th. They set a "sector outperform" rating and a $18.00 target price on the stock. Finally, HC Wainwright restated a "buy" rating and issued a $22.00 target price on shares of EyePoint Pharmaceuticals in a research note on Thursday, December 5th. One analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. Based on data from MarketBeat, EyePoint Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average price target of $25.71.

EyePoint Pharmaceuticals Trading Down 4.3 %

Shares of NASDAQ:EYPT traded down $0.32 during midday trading on Thursday, reaching $7.12. The company had a trading volume of 998,283 shares, compared to its average volume of 936,424. The company's 50 day moving average price is $9.74 and its 200 day moving average price is $9.12. EyePoint Pharmaceuticals, Inc. has a 52-week low of $7.04 and a 52-week high of $30.99. The stock has a market cap of $485.95 million, a P/E ratio of -3.56 and a beta of 1.45.

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.