JPMorgan Chase & Co. Increases Stake in EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT)

JPMorgan Chase & Co. raised its holdings in shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) by 1,171.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 371,758 shares of the company’s stock after acquiring an additional 342,516 shares during the quarter. JPMorgan Chase & Co.’s holdings in EyePoint Pharmaceuticals were worth $2,970,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. lifted its position in EyePoint Pharmaceuticals by 68.2% during the third quarter. China Universal Asset Management Co. Ltd. now owns 10,293 shares of the company’s stock valued at $82,000 after purchasing an additional 4,172 shares in the last quarter. Greenwich Wealth Management LLC raised its stake in shares of EyePoint Pharmaceuticals by 8.3% in the third quarter. Greenwich Wealth Management LLC now owns 11,700 shares of the company’s stock worth $93,000 after buying an additional 900 shares during the period. Cyndeo Wealth Partners LLC purchased a new position in shares of EyePoint Pharmaceuticals during the 3rd quarter valued at about $100,000. Intech Investment Management LLC bought a new position in shares of EyePoint Pharmaceuticals during the 3rd quarter valued at approximately $136,000. Finally, GSA Capital Partners LLP grew its stake in shares of EyePoint Pharmaceuticals by 129.6% during the 3rd quarter. GSA Capital Partners LLP now owns 32,979 shares of the company’s stock valued at $264,000 after acquiring an additional 18,616 shares during the period. Institutional investors own 99.41% of the company’s stock.

EyePoint Pharmaceuticals Stock Performance

NASDAQ EYPT opened at $7.48 on Monday. The stock has a 50 day moving average price of $8.40 and a 200-day moving average price of $8.96. EyePoint Pharmaceuticals, Inc. has a one year low of $6.90 and a one year high of $30.99. The company has a market capitalization of $510.52 million, a P/E ratio of -3.74 and a beta of 1.49.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Citigroup started coverage on shares of EyePoint Pharmaceuticals in a report on Tuesday, January 7th. They set a “buy” rating and a $33.00 price target on the stock. Chardan Capital lifted their target price on shares of EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, November 8th. HC Wainwright reiterated a “buy” rating and issued a $22.00 price target on shares of EyePoint Pharmaceuticals in a research note on Thursday, December 5th. Scotiabank assumed coverage on EyePoint Pharmaceuticals in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $18.00 price target on the stock. Finally, Robert W. Baird dropped their price objective on EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.63.

EyePoint Pharmaceuticals Company Profile

EyePoint Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, engages in developing and commercializing therapeutics to improve the lives of patients with serious retinal diseases. The company's pipeline leverages its proprietary bioerodible Durasert E technology for sustained intraocular drug delivery.