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) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,361,979 shares of the company’s stock, valued at approximately $10,882,000. EyePoint Pharmaceuticals makes up about 4.0% of Patient Square Capital LP’s investment portfolio, making the stock its 5th largest position. Patient Square Capital LP owned 2.54% of EyePoint Pharmaceuticals at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Point72 Asset Management L.P. purchased a new stake in EyePoint Pharmaceuticals in the second quarter valued at $5,488,000. Cubist Systematic Strategies LLC boosted its position in EyePoint Pharmaceuticals by 842.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 476,250 shares of the company’s stock worth $4,143,000 after purchasing an additional 425,717 shares in the last quarter. Vanguard Group Inc. grew its stake 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 worth $49,530,000 after purchasing an additional 362,168 shares during the period. Deerfield Management Company L.P. Series C lifted its stake in shares of EyePoint Pharmaceuticals by 51.4% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 877,790 shares of the company’s stock valued at $7,637,000 after purchasing an additional 298,196 shares during the period. Finally, Essex Investment Management Co. LLC boosted its holdings in EyePoint Pharmaceuticals by 234.2% during the third quarter. Essex Investment Management Co. LLC now owns 142,144 shares of the company’s stock worth $1,136,000 after buying an additional 99,606 shares in the last quarter. Hedge funds and other institutional investors own 99.41% of the company’s stock.

EyePoint Pharmaceuticals Trading Down 4.5 %

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. The company’s 50-day moving average price is $9.79 and its 200 day moving average price is $9.35. EyePoint Pharmaceuticals, Inc. has a 52 week low of $7.40 and a 52 week high of $30.99.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. cut their price target on EyePoint Pharmaceuticals from $32.00 to $29.00 and set an “overweight” rating for the company in a research note on Tuesday, August 13th. StockNews.com raised EyePoint Pharmaceuticals to a “sell” rating in a report on Saturday, September 21st. Chardan Capital lifted their price target on EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Robert W. Baird lowered their target price on EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. Finally, Scotiabank started coverage on EyePoint Pharmaceuticals in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $18.00 price target for the company. One analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $28.00.

About EyePoint Pharmaceuticals

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.