Goldman Sachs Group Inc. purchased a new position in shares of Oyster Point Pharma (NASDAQ:OYST) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 37,398 shares of the company’s stock, valued at approximately $1,080,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp grew its stake in shares of Oyster Point Pharma by 122.6% in the first quarter. State Street Corp now owns 94,453 shares of the company’s stock worth $3,306,000 after purchasing an additional 52,023 shares in the last quarter. Citigroup Inc. grew its stake in shares of Oyster Point Pharma by 46.0% in the first quarter. Citigroup Inc. now owns 1,648 shares of the company’s stock worth $58,000 after purchasing an additional 519 shares in the last quarter. Russell Investments Group Ltd. bought a new position in shares of Oyster Point Pharma in the second quarter worth $703,000. Bank of New York Mellon Corp lifted its holdings in shares of Oyster Point Pharma by 91.1% in the first quarter. Bank of New York Mellon Corp now owns 20,072 shares of the company’s stock valued at $703,000 after buying an additional 9,567 shares during the period. Finally, Nuveen Asset Management LLC acquired a new stake in shares of Oyster Point Pharma in the first quarter valued at $463,000. 72.82% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have recently weighed in on OYST shares. Zacks Investment Research upgraded Oyster Point Pharma from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a report on Saturday, August 8th. BidaskClub lowered Oyster Point Pharma from a “sell” rating to a “strong sell” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $42.80.

Shares of NASDAQ OYST opened at $19.08 on Monday. Oyster Point Pharma has a 12 month low of $13.26 and a 12 month high of $41.37. The company has a market cap of $491.37 million and a price-to-earnings ratio of -1.74. The business has a fifty day simple moving average of $22.40 and a 200-day simple moving average of $27.66.

Oyster Point Pharma (NASDAQ:OYST) last announced its earnings results on Wednesday, August 5th. The company reported ($0.66) EPS for the quarter, beating the consensus estimate of ($0.81) by $0.15. Research analysts anticipate that Oyster Point Pharma will post -2.82 earnings per share for the current fiscal year.

About Oyster Point Pharma

Oyster Point Pharma, Inc, a clinical stage biopharmaceutical company, focuses on the discovery, development, and commercialization of pharmaceutical therapies to treat ocular surface diseases in the United States. It is involved in developing OC-01, a nicotinic acetylcholine receptor agonist that is in Phase IIb clinical trial to treat the signs and symptoms of dry eye disease, as well as Phase III clinical trial for the neurotrophic keratitis.

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Institutional Ownership by Quarter for Oyster Point Pharma (NASDAQ:OYST)

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