Ocular Therapeutix (NASDAQ:OCUL) Shares Down 2.8% Following Insider Selling

Ocular Therapeutix, Inc. (NASDAQ:OCUL)’s share price was down 2.8% during mid-day trading on Wednesday after an insider sold shares in the company. The company traded as low as $9.42 and last traded at $9.48. Approximately 128,537 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 1,828,784 shares. The stock had previously closed at $9.75.

Specifically, insider Jeffrey S. Heier sold 2,948 shares of Ocular Therapeutix stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $9.01, for a total transaction of $26,561.48. Following the transaction, the insider now owns 269,059 shares of the company’s stock, valued at $2,424,221.59. This trade represents a 1.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Scotiabank started coverage on Ocular Therapeutix in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $22.00 price target for the company. HC Wainwright increased their price target on shares of Ocular Therapeutix from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Robert W. Baird lowered their price objective on shares of Ocular Therapeutix from $18.00 to $17.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $16.71.

Ocular Therapeutix Price Performance

The stock has a market cap of $1.58 billion, a P/E ratio of -7.62 and a beta of 1.26. The company has a quick ratio of 12.94, a current ratio of 13.01 and a debt-to-equity ratio of 0.19. The business’s 50-day simple moving average is $9.94 and its two-hundred day simple moving average is $8.21.

Institutional Trading of Ocular Therapeutix

A number of institutional investors have recently modified their holdings of the business. Avoro Capital Advisors LLC raised its holdings in Ocular Therapeutix by 12.7% during the 2nd quarter. Avoro Capital Advisors LLC now owns 8,060,000 shares of the biopharmaceutical company’s stock valued at $55,130,000 after acquiring an additional 911,064 shares during the period. Vanguard Group Inc. grew its position in shares of Ocular Therapeutix by 41.4% in the first quarter. Vanguard Group Inc. now owns 7,235,131 shares of the biopharmaceutical company’s stock valued at $65,840,000 after purchasing an additional 2,117,029 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Ocular Therapeutix during the 3rd quarter valued at $24,584,000. Point72 Asset Management L.P. purchased a new stake in Ocular Therapeutix during the 2nd quarter worth about $18,514,000. Finally, Deltec Asset Management LLC boosted its stake in Ocular Therapeutix by 0.4% in the 3rd quarter. Deltec Asset Management LLC now owns 2,600,073 shares of the biopharmaceutical company’s stock worth $22,621,000 after purchasing an additional 9,808 shares during the period. 59.21% of the stock is currently owned by hedge funds and other institutional investors.

Ocular Therapeutix Company Profile

Ocular Therapeutix, Inc, a biopharmaceutical company, focuses on the formulation, development, and commercialization of therapies for diseases and conditions of the eye using its bioresorbable hydrogel-based formulation technology in the United States. The company markets DEXTENZA, a dexamethasone ophthalmic insert to treat post-surgical ocular inflammation and pain following ophthalmic surgery, as well as allergic conjunctivitis.