Suvretta Capital Management LLC Sells 611,376 Shares of Eyepoint Pharmaceuticals, Inc. $EYPT

Suvretta Capital Management LLC trimmed its stake in shares of Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) by 9.0% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 6,192,715 shares of the company’s stock after selling 611,376 shares during the quarter. Eyepoint Pharmaceuticals comprises about 2.3% of Suvretta Capital Management LLC’s portfolio, making the stock its 10th biggest holding. Suvretta Capital Management LLC owned approximately 7.48% of Eyepoint Pharmaceuticals worth $88,184,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Rosalind Advisors Inc. bought a new stake in shares of Eyepoint Pharmaceuticals during the 3rd quarter worth approximately $9,256,000. Adage Capital Partners GP L.L.C. increased its stake in Eyepoint Pharmaceuticals by 9.7% in the second quarter. Adage Capital Partners GP L.L.C. now owns 6,800,000 shares of the company’s stock valued at $63,988,000 after acquiring an additional 600,000 shares during the last quarter. Federated Hermes Inc. raised its position 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 in the last quarter. Stempoint Capital LP acquired a new position in Eyepoint Pharmaceuticals during the second quarter valued at approximately $3,098,000. Finally, UBS Group AG lifted its stake in Eyepoint Pharmaceuticals by 177.6% during the third quarter. UBS Group AG now owns 350,164 shares of the company’s stock worth $4,986,000 after purchasing an additional 224,004 shares during the last quarter. 99.41% of the stock is owned by institutional investors and hedge funds.

Eyepoint Pharmaceuticals Price Performance

Eyepoint Pharmaceuticals stock opened at $13.20 on Friday. The stock’s 50 day moving average is $15.32 and its 200 day moving average is $14.46. Eyepoint Pharmaceuticals, Inc. has a one year low of $3.91 and a one year high of $19.11. The firm has a market cap of $1.10 billion, a P/E ratio of -4.18 and a beta of 1.72.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last issued its quarterly earnings results on Wednesday, March 4th. The company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.03). The business had revenue of $0.62 million for the quarter, compared to analyst estimates 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 anticipate that Eyepoint Pharmaceuticals, Inc. will post -2.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on EYPT. Cantor Fitzgerald raised Eyepoint Pharmaceuticals to a “strong-buy” rating in a research note on Tuesday, November 25th. TD Cowen raised Eyepoint Pharmaceuticals to a “strong-buy” rating in a research note on Friday, December 19th. Chardan Capital increased their target price on shares of Eyepoint Pharmaceuticals from $27.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Citigroup raised their price target on shares of Eyepoint Pharmaceuticals from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a report on Thursday, January 22nd. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $32.20.

Insider Buying and Selling

In other news, insider Ramiro Ribeiro sold 42,544 shares of the business’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $17.10, for a total transaction of $727,502.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 4.46% of the company’s stock.

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.