Essex Investment Management Co. LLC Reduces Stock Holdings in Eyepoint Pharmaceuticals Inc (NASDAQ:EYPT)

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Essex Investment Management Co. LLC lowered its position in Eyepoint Pharmaceuticals Inc (NASDAQ:EYPT) by 10.2% in the third quarter, HoldingsChannel reports. The firm owned 785,645 shares of the company’s stock after selling 89,453 shares during the period. Essex Investment Management Co. LLC’s holdings in Eyepoint Pharmaceuticals were worth $1,422,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Strs Ohio acquired a new position in Eyepoint Pharmaceuticals in the second quarter valued at about $27,000. JPMorgan Chase & Co. acquired a new stake in shares of Eyepoint Pharmaceuticals during the second quarter worth about $28,000. Wells Fargo & Company MN lifted its position in shares of Eyepoint Pharmaceuticals by 90.0% during the second quarter. Wells Fargo & Company MN now owns 96,945 shares of the company’s stock worth $159,000 after purchasing an additional 45,922 shares in the last quarter. Northern Trust Corp lifted its position in shares of Eyepoint Pharmaceuticals by 44.9% during the second quarter. Northern Trust Corp now owns 167,434 shares of the company’s stock worth $275,000 after purchasing an additional 51,919 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Eyepoint Pharmaceuticals by 225.7% during the second quarter. Bank of New York Mellon Corp now owns 149,870 shares of the company’s stock worth $245,000 after purchasing an additional 103,857 shares in the last quarter. 58.60% of the stock is owned by hedge funds and other institutional investors.

Eyepoint Pharmaceuticals stock traded up $0.03 during mid-day trading on Thursday, hitting $2.33. The company had a trading volume of 100 shares, compared to its average volume of 499,685. The stock has a market cap of $244.49 million, a price-to-earnings ratio of -4.10 and a beta of 1.72. Eyepoint Pharmaceuticals Inc has a 1 year low of $1.19 and a 1 year high of $2.82. The company has a quick ratio of 5.31, a current ratio of 5.46 and a debt-to-equity ratio of 1.75. The business has a fifty day moving average of $1.95 and a 200 day moving average of $1.67.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last announced its earnings results on Wednesday, August 7th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. The business had revenue of $7.21 million for the quarter, compared to analyst estimates of $6.75 million. Eyepoint Pharmaceuticals had a negative net margin of 621.04% and a negative return on equity of 165.24%. Equities analysts anticipate that Eyepoint Pharmaceuticals Inc will post -0.53 earnings per share for the current year.

Several analysts have recently issued reports on EYPT shares. Zacks Investment Research cut shares of Eyepoint Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, October 17th. B. Riley reduced their target price on shares of Eyepoint Pharmaceuticals from $5.75 to $4.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Guggenheim started coverage on shares of Eyepoint Pharmaceuticals in a report on Thursday, September 12th. They issued a “buy” rating and a $4.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $4.50 target price on shares of Eyepoint Pharmaceuticals in a report on Wednesday, September 25th. Finally, ValuEngine raised shares of Eyepoint Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $3.69.

About Eyepoint Pharmaceuticals

EyePoint Pharmaceuticals, Inc, a specialty biopharmaceutical company, develops and commercializes ophthalmic products for the treatment of eye diseases in the United States and Europe. It provides ILUVIEN for the treatment of diabetic macular edema; YUTIQ, a non-erodible fluocinolone acetonide insert for the treatment of non-infectious posterior uveitis (NIPU) that is in the Phase III clinical trials; and Retisert (fluocinolone acetonide intravitreal implant), a sustained-release implant for the treatment of posterior segment uveitis.

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Institutional Ownership by Quarter for Eyepoint Pharmaceuticals (NASDAQ:EYPT)

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