Patient Square Capital LP Makes New $10.88 Million Investment in EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT)

Patient Square Capital LP purchased a new position in shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) in the 3rd quarter, Holdings Channel.com reports. The fund purchased 1,361,979 shares of the company’s stock, valued at approximately $10,882,000. EyePoint Pharmaceuticals comprises about 4.0% of Patient Square Capital LP’s portfolio, making the stock its 5th largest position.

A number of other large investors also recently modified their holdings of EYPT. Point72 Asset Management L.P. purchased a new position in EyePoint Pharmaceuticals in the second quarter valued at approximately $5,488,000. Cubist Systematic Strategies LLC raised its stake in shares of EyePoint Pharmaceuticals by 842.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 476,250 shares of the company’s stock valued at $4,143,000 after acquiring an additional 425,717 shares during the period. Vanguard Group Inc. lifted its holdings in shares of EyePoint Pharmaceuticals by 17.8% during the 1st quarter. Vanguard Group Inc. now owns 2,396,228 shares of the company’s stock valued at $49,530,000 after acquiring an additional 362,168 shares in the last quarter. Deerfield Management Company L.P. Series C boosted its position in EyePoint Pharmaceuticals by 51.4% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 877,790 shares of the company’s stock worth $7,637,000 after purchasing an additional 298,196 shares during the period. Finally, Essex Investment Management Co. LLC increased its holdings in EyePoint Pharmaceuticals by 234.2% in the 3rd quarter. Essex Investment Management Co. LLC now owns 142,144 shares of the company’s stock valued at $1,136,000 after purchasing an additional 99,606 shares in the last quarter. 99.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EYPT has been the subject of several analyst reports. Robert W. Baird decreased their target price on EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating for the company in a research report on Monday, November 11th. Chardan Capital upped their price target on EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, November 8th. JPMorgan Chase & Co. reduced their target price on shares of EyePoint Pharmaceuticals from $32.00 to $29.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 13th. HC Wainwright reduced their price objective on shares of EyePoint Pharmaceuticals from $30.00 to $22.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. Finally, Scotiabank assumed coverage on shares of EyePoint Pharmaceuticals in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $18.00 price objective for the company. One analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $28.00.

EyePoint Pharmaceuticals Price Performance

Shares of NASDAQ:EYPT opened at $8.37 on Wednesday. The stock has a market cap of $570.91 million, a price-to-earnings ratio of -4.18 and a beta of 1.45. EyePoint Pharmaceuticals, Inc. has a 12 month low of $7.40 and a 12 month high of $30.99. The stock’s 50 day moving average price is $9.79 and its 200 day moving average price is $9.35.

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.