Suvretta Capital Management LLC Lowers Position in Eyepoint Pharmaceuticals, Inc. $EYPT

Suvretta Capital Management LLC decreased its stake in Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) by 9.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 6,192,715 shares of the company’s stock after selling 611,376 shares during the period. Eyepoint Pharmaceuticals makes up 2.3% of Suvretta Capital Management LLC’s portfolio, making the stock its 10th largest position. Suvretta Capital Management LLC owned about 0.07% of Eyepoint Pharmaceuticals worth $88,184,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EYPT. Adage Capital Partners GP L.L.C. raised its holdings in shares of Eyepoint Pharmaceuticals by 9.7% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 6,800,000 shares of the company’s stock worth $63,988,000 after purchasing an additional 600,000 shares during the period. Federated Hermes Inc. grew its holdings in Eyepoint Pharmaceuticals by 12.6% during the second quarter. Federated Hermes Inc. now owns 4,599,450 shares of the company’s stock valued at $43,281,000 after purchasing an additional 513,870 shares during the period. Franklin Resources Inc. increased its position in Eyepoint Pharmaceuticals by 3.6% in the second quarter. Franklin Resources Inc. now owns 4,301,123 shares of the company’s stock worth $40,474,000 after buying an additional 151,262 shares during the last quarter. Bank of America Corp DE increased its position in Eyepoint Pharmaceuticals by 8.5% in the second quarter. Bank of America Corp DE now owns 814,153 shares of the company’s stock worth $7,661,000 after buying an additional 63,941 shares during the last quarter. Finally, Rosalind Advisors Inc. bought a new stake in shares of Eyepoint Pharmaceuticals in the third quarter valued at $9,256,000. 99.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Eyepoint Pharmaceuticals news, insider Ramiro Ribeiro sold 42,544 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $17.10, for a total value of $727,502.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 4.46% of the stock is currently owned by corporate insiders.

Eyepoint Pharmaceuticals Stock Performance

NASDAQ:EYPT opened at $13.20 on Friday. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of -4.18 and a beta of 1.72. Eyepoint Pharmaceuticals, Inc. has a 52-week low of $3.91 and a 52-week high of $19.11. The stock has a fifty day moving average of $15.32 and a 200 day moving average of $14.46.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last issued its quarterly earnings data on Wednesday, March 4th. The company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.78) by ($0.03). The business had revenue of $0.62 million for the quarter, compared to analysts’ expectations of $1.01 million. Eyepoint Pharmaceuticals had a negative return on equity of 88.31% and a negative net margin of 739.39%. Equities analysts forecast that Eyepoint Pharmaceuticals, Inc. will post -2.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

EYPT has been the topic of several recent research reports. HC Wainwright upped their price objective on shares of Eyepoint Pharmaceuticals from $23.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Cantor Fitzgerald upgraded shares of Eyepoint Pharmaceuticals to a “strong-buy” rating in a research note on Tuesday, November 25th. Chardan Capital boosted their price target on shares of Eyepoint Pharmaceuticals from $27.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. TD Cowen upgraded shares of Eyepoint Pharmaceuticals to a “strong-buy” rating in a research note on Friday, December 19th. Finally, Citigroup raised their price objective on shares of Eyepoint Pharmaceuticals from $31.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, March 9th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Eyepoint Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $32.20.

Eyepoint Pharmaceuticals Company 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.