Spruce Street Capital LP Makes New Investment in Eyepoint Pharmaceuticals, Inc. $EYPT

Spruce Street Capital LP bought a new position in Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 981,543 shares of the company’s stock, valued at approximately $17,933,000. Eyepoint Pharmaceuticals comprises approximately 5.9% of Spruce Street Capital LP’s portfolio, making the stock its 7th biggest position. Spruce Street Capital LP owned about 1.19% of Eyepoint Pharmaceuticals as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of EYPT. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Eyepoint Pharmaceuticals by 51.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,023 shares of the company’s stock worth $74,000 after acquiring an additional 1,358 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Eyepoint Pharmaceuticals during the 3rd quarter worth about $76,000. Tower Research Capital LLC TRC increased its position in shares of Eyepoint Pharmaceuticals by 218.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,700 shares of the company’s stock worth $82,000 after purchasing an additional 5,967 shares during the last quarter. Raymond James Financial Inc. increased its position in shares of Eyepoint Pharmaceuticals by 11.0% during the 2nd quarter. Raymond James Financial Inc. now owns 11,900 shares of the company’s stock worth $112,000 after purchasing an additional 1,177 shares during the last quarter. Finally, Bank of Nova Scotia acquired a new stake in shares of Eyepoint Pharmaceuticals during the 3rd quarter worth about $158,000. 99.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Eyepoint Pharmaceuticals

In other news, insider Ramiro Ribeiro sold 2,437 shares of the business’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $15.00, for a total transaction of $36,555.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on EYPT. Citigroup raised their price objective on Eyepoint Pharmaceuticals from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, March 9th. Chardan Capital raised their price objective on Eyepoint Pharmaceuticals from $27.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. HC Wainwright raised their price objective on Eyepoint Pharmaceuticals from $23.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Royal Bank Of Canada cut 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, Weiss Ratings reissued a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research report on Tuesday, April 21st. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $31.80.

Eyepoint Pharmaceuticals Price Performance

NASDAQ EYPT opened at $12.08 on Tuesday. The company has a market cap of $1.01 billion, a P/E ratio of -3.45 and a beta of 1.72. The stock has a 50-day moving average of $13.29 and a two-hundred day moving average of $14.68. Eyepoint Pharmaceuticals, Inc. has a 1-year low of $7.94 and a 1-year high of $19.11.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.99) EPS for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.20). Eyepoint Pharmaceuticals had a negative return on equity of 110.54% and a negative net margin of 3,566.63%.The company had revenue of $0.70 million for the quarter, compared to analyst estimates of $0.35 million. On average, analysts anticipate that Eyepoint Pharmaceuticals, Inc. will post -3.09 EPS for the current fiscal year.

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.