Orbimed Advisors LLC Cuts Stock Position in Eyepoint Pharmaceuticals, Inc. $EYPT

Orbimed Advisors LLC cut its position in Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) by 56.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,069,147 shares of the company’s stock after selling 1,399,167 shares during the quarter. Orbimed Advisors LLC’s holdings in Eyepoint Pharmaceuticals were worth $13,781,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of EYPT. California State Teachers Retirement System lifted its position in shares of Eyepoint Pharmaceuticals by 20.6% during the fourth quarter. California State Teachers Retirement System now owns 4,654 shares of the company’s stock valued at $85,000 after buying an additional 794 shares during the last quarter. RWC Asset Management LLP raised its stake in shares of Eyepoint Pharmaceuticals by 6.4% during the 4th quarter. RWC Asset Management LLP now owns 17,235 shares of the company’s stock worth $315,000 after acquiring an additional 1,040 shares in the last quarter. MCF Advisors LLC raised its stake in shares of Eyepoint Pharmaceuticals by 8.3% during the 4th quarter. MCF Advisors LLC now owns 14,921 shares of the company’s stock worth $273,000 after acquiring an additional 1,149 shares in the last quarter. Raymond James Financial Inc. lifted its position in Eyepoint Pharmaceuticals by 11.0% during the second quarter. Raymond James Financial Inc. now owns 11,900 shares of the company’s stock valued at $112,000 after acquiring an additional 1,177 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Eyepoint Pharmaceuticals by 51.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,023 shares of the company’s stock valued at $74,000 after acquiring an additional 1,358 shares during the last quarter. 99.41% of the stock is owned by hedge funds and other institutional investors.

Eyepoint Pharmaceuticals Price Performance

EYPT opened at $12.19 on Monday. The company has a market cap of $1.02 billion, a P/E ratio of -3.48 and a beta of 1.73. The firm’s 50-day moving average price is $13.19 and its 200-day moving average price is $14.03. Eyepoint Pharmaceuticals, Inc. has a 52-week low of $9.40 and a 52-week high of $19.11.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last released its earnings results on Wednesday, May 6th. The company reported ($0.99) EPS for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.20). The company had revenue of $0.70 million during the quarter, compared to analyst estimates of $0.35 million. Eyepoint Pharmaceuticals had a negative return on equity of 110.54% and a negative net margin of 3,566.63%. On average, research analysts anticipate that Eyepoint Pharmaceuticals, Inc. will post -3.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on EYPT. Guggenheim restated a “buy” rating and issued a $68.00 target price on shares of Eyepoint Pharmaceuticals in a research note on Wednesday, June 24th. Cantor Fitzgerald began coverage on Eyepoint Pharmaceuticals in a research report on Wednesday, July 8th. They set an “overweight” rating and a $47.00 price target on the stock. Stifel Nicolaus began coverage on Eyepoint Pharmaceuticals in a report on Thursday, July 16th. They set a “buy” rating and a $40.00 price objective for the company. Royal Bank Of Canada lowered their price objective on Eyepoint Pharmaceuticals from $39.00 to $37.00 and set an “outperform” rating for the company in a research report on Thursday, May 7th. Finally, Chardan Capital boosted their target price on Eyepoint Pharmaceuticals from $29.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Eyepoint Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $43.75.

About Eyepoint Pharmaceuticals

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.